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InterTradeIreland shows all-Ireland working - Murphy

25 June, 2013 - by Westminster

Sinn Féin Spokesperson, Conor Murphy MP has hailed the success of InterTradeIreland as an example of all-Ireland economics working. InterTradeIreland is funded by both governments with a remit to encourage and enhance economic co-operation across the island.

Conor Murphy said:

“InterTradeIreland (ITI) was set up under the terms of the Good Friday Agreement (GFA) to foster business relationships on an all-Ireland basis. It has helped hundreds of business start-ups to success since its establishment and created thousands of jobs in the process.

“ITI runs a Seedcorn competition each year to encourage new business, particularly in Research and Development (R&D) and export.  Last year’s winners of the competition were R&D projects, Belfast based Catagen and Dublin based Wattics who took first and second places and €100,000 and €50,000 respectively. This is indicative of the opportunities offered by InterTradeIreland whether you are in Kerry or Derry, Buncrana or Belfast!

“While this prize money (this year stands at €280,000) would be a welcome boost to any start-up business the advice and on-going support provided by ITI is just as important.

“As stated by previous recipients the network of contacts and the introductions to partner companies is a resource that is incalculable. I would encourage companies meeting the criteria of being in the early development stage and established for less than five years to make contact with ITI to avail of the support structures provided and prepare now for future competition.

“Considering the present economic climate in which R&D projects and Small to Medium Export Enterprises are presently attempting to succeed in, it is reassuring that a facility such as ITI continues to provide invaluable assistance.

“With what I believe will be a continuing converging of economies North and South it is essential that the entrepreneurial spirit be encouraged and ITI has shown that it can be the vehicle for this in an all-Ireland context.

“There is rapidly changing economic realities facing business throughout the island and all businesses know that new contacts, new networks provide new opportunities and that is what ITI can provide. It is imperative that both the Executive and the Oireachtas continue to support the excellent work of InterTradeIreland.”

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