Decarbonisation is a challenge for firms but also an opportunity

We’re living in a increasingly competitive world, so how do we maintain our edge with challenges of digitalisation, decarbonisation, and questions over deglobalisation asks Dermot Casey, chief executive of Industry Research and Development Group (IRDG).

Over the last three years, 67% of businesses conducting RD&I in Ireland increased their overall research and innovation spend and 80% of businesses expect to increase their RD&I investment over the next three years.

Casey said that IRDG and KPMG recently carried out this survey on attitudes to research and innovation in Ireland, how Ireland compares to other countries, and what improvements can be made to maintain and enhance our performance.

“Strengthening and deepening research, development and innovation (RD&I) capacity is essential to ensure the continued prosperity of Ireland’s innovation economy,” he said.

“As the global economy becomes increasingly competitive, marked by rapid technological advancements, talent shortages, and evolving consumer preferences, the pathways to growth have become more challenging than ever.”

IRDG is an industry association, for companies engaged in research and innovation. It is a business-led innovation network representing companies that are working towards innovation excellence. Among its key areas of training for industry in Ireland are design thinking, lean product development, sustainability, applying digital transformation, and innovation strategy and management. It has an ecosystem of more than 300 member companies and research institutes.

“We are the only organisation of our kind in Ireland,” said Casey. “We are independent and led by a board of directors from member companies. Our member companies come from all sectors and sizes, MNCs and indigenous firms, exemplary innovation performers, and relative newcomers to innovation.

“We represent indigenous and multinational companies across 24 sectors – including software/ICT/cloud computing, engineering, agriculture, food and drink, technology, medical technology/devices, pharmaceuticals, financial services, construction and manufacturing. Our objective is to help companies with the information, skills and connections they need to deliver great innovation and drive business growth.”

IRDG supports the upskilling of industry. “We have done a lot particularly over the last 10 years to deliver worldclass training to support companies in delivering innovation,” said Casey. “We help organisations from ideas and conceiving value to the sharp edge of implementing ideas and realising value. That’s now taking a leap forward with the IRDG Innovation Skillnet.”

“Central to our mission in IRDG is to help companies excel at research, development and innovation. A key component of that is managing innovation. Better systems and better skills lead to better outcomes. We help companies develop competencies through design thinking, service design, lean innovation, sustainability, innovation management standards and many more.”

IRDG also provides a community where people share experiences, have their minds open to practices in other sectors and broaden their horizons to bring new and brilliant thinking to their work.

By allocating resources to support research and development initiatives, Ireland can foster a culture of innovation and ingenuity, nurturing local talent as well as attracting investment from around the globe. This, in turn, will lead to the creation of high-value jobs, sustainable economic growth, and increased global recognition for Irish industries.

Casey said that he is very excited. “Ireland has a huge opportunity, we’re doing well in MedTech, pharma, ICT and manufacturing. If you look across the economy, it is a real hidden treasure trove of amazing stories and breakthrough innovations. There is a real hunger for innovation and a real hunger for learning and upskilling.”

Decarbonisation is posing huge questions around how companies operate and how they build products and services, he said. “This is requiring people to think about new ways of working and new ways of developing products and services. Its also the largest opportunity for business.”

Continued investment and focus can bolster Ireland's position as a global hub for research and innovation. With its strong educational institutions, talented workforce, and supportive business environment, Ireland has the potential to become a magnet for cutting-edge research and international collaborations.

“We need significant upskilling,” said Casey. “As a country we are underspending on by up to €2 billion a year innovation and need to significantly increase our investment to meet the challenges of sustainability and digitalisation and to ensure continued economic prosperity. Ireland needs the skilled talent to drive change.”

“At IRDG we have been helping organisations with innovation strategy for years. We will continue to do that, driving innovation and excellence. We believe in the power of this unique industry network to deliver the intelligence, inspiration and innovation necessary to create an exclusive and vibrant economy for the 21st century.”

Casey said: “The IRDG Innovation Skillnet is an exciting new network just launched this year, supported by Skillnet Ireland, a business support agency of the Government of Ireland, and delivered by IRDG. The IRDG Innovation Skillnet will facilitate training programmes and knowledge-building in research and innovation for companies of all sectors.

“The objective of the IRDG Innovation Skillnet is to raise the level of technical education, skills and knowledge around innovation,” he said.

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Name: Industry Research and Development Group CLG.

Founded: 1992

Number of staff: 6

Money talks: Ireland is underspending by €2bn a year in innovation compared to European leaders

Why is it in the news: Will train 1000 people across 2023 through the recently launched IRDG Innovation Skillnet