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From Public to Private Sector: Igniting Business Growth and Innovation

Join Richard, Andrew, Colin, and more in discussing the transition from public to private sector, challenges faced, and strategies for success. Explore the potential for business growth with insights on talent recruitment, market entry, and overcoming barriers. Discover the importance of collaboration between sectors and actionable steps towards a thriving economy. Let's pave the way for a prosperous future together!

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From Public to Private Sector: Igniting Business Growth and Innovation

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  1. Public to Private sector transition… or…Creating an economy in which business can thrive! Richard, Andrew, Colin, David, Paul, Amanda, Darren, Sarah, Sinead, Martin, Pascal, Declan, Eoin & Tim.

  2. What did we talk about? • Ourselves… • Who we are • What we do • Where we are going • What is in the way • How could public sector help business

  3. What else did we talk about? • The public sector… • Secure salaries, career progression • Attractive to much graduate top talent, but not recuiting • Dead men’s shoes • Risk aversion • Frustration • Only 1/3 know what Matrix is • We are too reliant • The bits for biz are all there, but where is front door? • Its not us & them – we need to work together.

  4. A bit about us

  5. Where are we going? • Build team, launch • Into pre-clinical studies • License agreements • Led fibre adoption • Opening public market • Build ‘green’ market • Market leadership • Economic action plan • Raising money • Business up & running • Establish science park • First revenues • Set up new business • New products • Business x5 • Reclaim £1m client tax

  6. What’s in the way? • Nothing in the way… • … but not adding value • Red tape, bureaucracy • Lack of working capital • Audits, audits, audits • Cost of doing business • Public sector lethargy • Lack of biz empathy • Public sector apathy • Complex procurement • Poor service to public • Private skills shortage • Public skills plentiful • Corporation tax • Paying slowly

  7. What are we need to do? • Need to take away the public sector safety net • Change from cost to profit centres – corp tax • Public sector needs to buy indigenous innovation • Start Up / co-working space in the centre of cities • Need a knowledge hub for business advice/support • Better trade & market intelligence from Invest NI • Need a small business loan fund (like student fund)

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