The Importance of Innovation and Enterprise for Businesses and the Economy

For Businesses - Gain a Competitive Advantage

Stand out by offering better, cheaper, or more unique products and services 

For Businesses - Expand into new markets

Use digital tools and platforms to reach global customers, even without a physical store 

For Businesses - Improve Efficiency

Adopt tools like AI or automation to reduce costs, increase quality, and speed up delivery 

For the economy - drives economic growth

Increases business productivity and GDP, supporting public services through higher tax revenues 

For the economy - creates jobs

Leads to new industries (e.g. green tech, digital health), offering future-proof careers and regional employment. Innovation can also reduce the reliance on traditional sectors (renewable energy, less reliance on oil) 

For the economy - boosts exports

Enables Irish innovations to solve global problems and generate income from international markets, strengthening the domestic economy 

Innovation benefits society by: Solving Social Challenges

Addresses issues like homelessness, addiction, and digital exclusion using scalable models 

Innovation benefits society by: Supporting environment goals

Drives eco-innovation such as circular packaging and sustainable production 

Innovation benefits society by: Empowering communities

Provides access to tools, funding and support to solve local problems from the ground up