Need a competitive edge? Invest NI’s new £11m programme could hold the key

Finding ways to innovate and stay competitive isn’t easy – but it is possible. And many local businesses are discovering that collaboration is the key. Joining forces with other businesses and working collaboratively with academia is one of the best ways to find your edge, because it creates opportunities that might otherwise be out of your reach. It lets everyone involved share knowledge, solve challenges together and create brand new market opportunities. But what’s involved in a collaborative project? And how do you even start? How collaboration becomes the key to competitiveness For collaboration to pay-off, you need the right partners, resources and, crucially, the funding to make it happen. That’s where Invest NI’s new £11 million Cluster Acceleration Programme (CAP) can help.

The CAP is designed to help SMEs collaborate, innovate and thrive. It’s all about building industry clusters, which are groups of businesses, academia, entrepreneurs and Government working together toward shared goals. These clusters help build innovative ecosystems, give participating businesses access to the expertise, ideas and support they need to grow stronger, more competitive and to find new opportunities. How the CAP helps you compete Invest NI’s CAP offers substantial funding to help you explore and develop collaborative projects. Phase One of the programme involves a feasibility study, with up to £60,000 available to help SME-led clusters explore new ideas, assess their potential, and co-design their future cluster roadmap.

If your cluster’s feasibility study shows promise, Phase Two is where your project development begins. During this phase, up to £1 million over five years becomes available to each emerging priority cluster so they can fully develop and implement their projects. But CAP doesn’t just offer financial support – there’s also training and resources to help businesses manage their collaborations effectively, connect with industry experts and even take part in international knowledge exchange.

What could this mean for your business? Invest NI’s CAP is specifically designed to foster long-term collaboration and sustainable growth. By joining an industry cluster, your business gains access to a network of other ambitious companies, academic institutions and partners, as well as building a solid foundation for future success. As well as being able to mitigate risks and tackle large projects, your cluster also puts you in a stronger position to withstand any market turbulence or develop completely new products and services for markets you’ve never even considered before. Ready to take the first step?

Think about what your business could achieve with a share of £11 million in funding and a new network of collaborators. The Cluster Acceleration Programme is a chance for businesses like yours to help each other gain a competitive edge, innovate faster and grow stronger. Take the first steps towards collaboration, and let’s see how far you can really go when you have the right partners.