If you’re running a business in Omagh or anywhere in Tyrone, now might be the perfect time to explore what innovation funding could do for you.
A recent report by UK Research and Innovation (UKRI) shows that Northern Ireland has seen a whopping 43% increase in investment in research projects – the biggest jump anywhere in the UK! Between 2021-22 and 2023-24, funding for NI projects rose from £61 million to £87 million. That’s a serious boost – and there’s no reason businesses in our area can’t tap into that.
In fact, UKRI invested over £9.1 billion across the UK last year – and much of that is still up for grabs by businesses just like yours.
What kind of innovation are we talking about?
Northern Ireland has already seen some impressive results from this kind of support:
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Centre for Secure Information Technologies in Belfast has grown to over 125 companies employing 2,750 cybersecurity professionals. It’s a brilliant example of what long-term investment in innovation can achieve.
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EPIC Futures is bringing businesses, community groups, academics, and policymakers together to solve real local issues – from sustainability to skills shortages.
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Smart Nano NI is creating groundbreaking medical tech, including a less invasive method to detect breast cancer. It’s already drawn over £20 million in private backing.
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And decarbonising marine transport is another standout – Belfast is building zero-emissions ferries, expected to bring 1,000+ jobs and a £129 million boost to the local economy.
So, what does this mean for a business in Omagh?
It means opportunity. Innovation funding isn’t just for the tech giants or big city firms – it’s for local businesses too, whether you’re developing a new product, improving a process, or tackling a challenge in a new way.
Even if you’re not sure where to start, there’s plenty of help available.
Head over to nibusinessinfo.co.uk where you’ll find tools and resources to:
✅ Take a free innovation readiness assessment
✅ Get tailored advice and support from local organisations
✅ Apply for innovation funding opportunities
✅ Learn from other NI businesses who’ve made it work
Innovation doesn’t always mean high-tech – it’s about doing things better, smarter, or more sustainably. Whether you’re in hospitality, manufacturing, farming, creative industries, or retail – there could be something in this for you.
If you’ve got an idea brewing or a challenge in your business that needs a fresh solution, now’s the time to explore what’s possible. Innovation could be closer to home than you think.
