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24/07/2021

Maynooth University programme will support companies "forced to rethink how they do business"

Initiative

Maynooth University programme will support companies "forced to rethink how they do business"

Gary O’Meara, Meath Enterprise; Michael Hanley Maynooth University and Allan Shine Co Kildare Chamber

A tailor-made innovation programme delivered by Maynooth University’s Innovation Value Institute (IVI) will support companies who are forced to re-think how they do business. 

The ReThink|ReDesign programme is unique in Ireland. 

The initiative provides customised help for firms to rethink, redesign, and reboot their business models to recover from the disastrous economic disruption caused by COVID 19, and the critical need to survive and thrive in a post-Brexit economic landscape. 

The stresses of Covid-19 and Brexit have accelerated the need for firms to re-design their business model and leverage technology for the benefit of their business. The initiative spearheaded by Maynooth University, Meath Enterprise and County Kildare Chamber aims to address this need. Digitisation will be at the forefront with the company workshops. 

Read more County Kildare news

Research gathered from the chamber and ME show that the four main concerns CEO’s have with implementing digitisation practises into their businesses are employee pushback, lack of expertise to lead digitisation initiatives, lack of overall digitisation strategy and limited budget. 

Allan Shine, CEO of County Kildare Chamber said “Entrepreneurs embracing the new age of AI, digitalisation and High Performance Computing  are more productive, show higher profitability and experience better outcomes.  Businesses engaging in new markets over the past 24 months in the region have increased their turnover by an average of 18%.  Indigenous businesses in the food sector and tech sector are performing extremely well over the past 12 months. Kildare itself is awash with a vibrant eco system of HPSU’s that excites.  In many ways, if a business remains static and still they may not survive but to thrive and succeed they can rely on the chamber, ME and MU to develop current, bespoke training programmes.

 The possibility to leverage state supports to fund this practical collaboration between business and a regional third-level institution such as Maynooth University is a game changer for businesses. Feedback from our 390 members employing 37,500 show that 62% of businesses in the region will  reinvent, re-model or pivot their business. In the midst of Brexit, Covid 19 and the uncertainty with transatlantic trade agreements, businesses can now avail of a bespoke, innovative series of workshops.”  

He added: “with the evolving and increasing number of entrepreneur led enterprises opening in the mid-east region, now is the time to engage with the ReThink ReDesign programme led by MU, ME and the chamber. It’s ideal for tech related companies exporting or planning to export into international markets in 2021. Companies in the mid-east region are facing huge challenges with the current pandemic and Brexit.  This innovative programme has being specially crafted to suit all business types and focuses on innovation and digital capabilities.”  

Prof Markus Helfert, Director of IVI at Maynooth University, stated: “We are delighted to partner with Meath Enterprise and County Kildare Chamber with this innovation programme.  I have no doubt it will be of value to businesses in the region as we have developed and trialled the programme with a number of SMEs.

 

Gary O'Meara CEO ME said: "the current covid 19 crisis has brought into sharp focus the importance of innovation and demonstrable sustainable business development across all sectors. As we recover from the covid crisis, and as we begin to tackle issues such as climate change, sustainable food production, digital transformation and blended working, the Mideast has demonstrated that it has the companies, the supportive infrastructure and the brainpower to capitalise on emerging opportunities. The University recognises the impact that Covid-19 has had on companies and with Brexit upon us. Our bespoke programmes are well positioned to support businesses across all sectors and of all sizes.” 

“The digital economy is real—and it is here to stay. We are witnessing an era unmatched in the history of business innovation and transformation. The resulting pace of change is staggering and lines defining sectors and industries are blurring. Over the next 10 years, 40% of the companies indexed will have ceased to exist unless they keep up with these technology trends according to the World Economic Forum. It’s estimated  that in 2030 one job out of two will have disappeared and 60% of jobs that will be practiced in 2030 don’t yet exist. Leaders in the digital economy are emerging seemingly from out of nowhere like Uber and Airbnb”, he stated.

 

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