Apart from the emergence of technology during pandemic, what was the biggest thing you saw? Nothing else can be as jaw-dropping as it would be.
As a result of the pandemic, technology leaders in Northern Ireland (NI) predict that there would be huge advancements and opportunities for the development sector of the industry.
Catalyst reports that companies in Northern Ireland will have new share investments in excess of 100 million pounds by 2021.
Generally, it is compared with the 5m pounds investment in 2014 and the 44m pounds investment in 2020. (This means no impact of a pandemic on technology)
According to Catalyst, despite the drastic challenges of the past two years, the tech industry is actually thriving.
What is the reason behind it? Considering that everyone had to stay at home, it was deduced that 53.2% of participants are using the internet for more than 5 hours daily in comparison to 20.7% (calculated in the previous study).
We would like to add some words from Adrian Johnston, Catalyst’s director of strategic business development:
“There are a number of ways innovation can change, and disruption and global events can actually drive innovation. What you have seen is that the digital and technology sector has responded with agility to that need.
We are seeing that the technologies have continued to thrive and grow.
We have seen that within the companies that Catalyst support, we have 155 companies across three hubs in Northern Ireland, ranging from scale-ups and start-ups to FDI (Foreign Direct Investment).”
Catalyst is what? Catalyst is a non-profit organization with tech hubs in Londonderry, Belfast, and Ballymena that offers support to innovators and entrepreneurs.
Catalyst unveiled a five-year-long strategy to generate significant economic assets and benefits for Northern Ireland (by enabling people to take advantage of opportunities in industries).
Catalyst Targets What?
- There will be 1000 individuals (from underrepresented groups) participating in innovative programs in order to launch 50 new products.
- Aims to support 20 new sustainable start-ups (founded by females or/and non-university graduates) in the coming year
- Aimed at aiding the development of 100 entrepreneurs of diverse genders and socio-economic backgrounds.
Northern Ireland (NI) has developed a lot of technology during pandemic, and it is still growing. Additionally, NI has a great deal of technology potential, which makes it an ideal sector for future entrepreneurs.