9th June 1998

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William Daley, United States Secretary of Commerce predicted a bright future for the Northern Ireland economy after meeting some of Northern Ireland's brightest young entrepreneurs during a discussion session at the University of Ulster at Jordanstown.

The meeting was attended by research students and young academic staff from the two local universities and highlighted not only their ongoing support for local companies but also their commitment to participating in new start up high technology companies and in helping to attract inward investment.

Secretary Daley learned of the universities' internationally recognised research strengths in areas such as knowledge based engineering, biotechnology, human nutrition, electrical engineering, physics and environmental sciences and was impressed at how these are being harnessed to support local industry and inward investment through a number of applied research centres dedicated to serve industry's needs.

The commitment of both local universities to technology transfer to industry is also reflected in their participation in the Teaching Company Scheme where the University is the leading UK university with Queen's in third place.

Secretary Daley said: "We are here because we are a business delegation, men and women who are looking for business opportunities, eager to share with colleagues from Northern Ireland our understanding of the challenges of entrepreneurship. We are excited about the opportunities we see here, and the chance to develop joint ventures and partnerships with companies in Northern Ireland."

Both universities are actively encouraging entrepreneurial academics to take inventions to the marketplace through patenting and licensing agreements and through the development of new start up companies supported by their technology transfer companies, UUTECH and QUBIS.

The University of Ulster also supports the needs of Northern Ireland's industrial and business community through its Faculty of Business and Management and Ulster Business which, with over 200 academic staff and an annual turnover of over £17 million, is the largest business school in the United Kingdom.

Professor Gerry McKenna, Pro-Vice-Chancellor (Research) at the University of Ulster and who chaired the meeting with Secretary Daley said:

"The two universities, in common with the Ulster people, have kept the faith in Northern Ireland all through the 30 years of violence and political unrest. They have built internationally recognised centres of applied research excellence which will be crucial to the future development of Northern Ireland as a high technology based economy.

"Most importantly, our output of over 4000 highly skilled graduates annually in science, engineering and informatics can provide the life blood for economic regeneration and act as a major incentive of inward investment. The close ties which we have established with the United States together with our common language and overlapping heritage makes Northern Ireland an attractive gateway to Europe for American companies."

For further information, please contact:

Press Office Department of Communication and Development
Telephone: 028 9036 6178
Email: pressoffice@ulster.ac.uk