Experts say Project Kelvin opens multi-billion markets

The MATRIX (Northern Ireland Science Industry) panel has submitted its report to the Department of Enterprise, Trade and Investment (DETINI) which intends publishing it within the next two weeks.

Ms Foster revealed that the think-tank reckons businesses can exploit higher bandwith and low latency direct international connectivity provided by the multi-million pound telecommunications cable, in order to create jobs if action is taken quickly.

She outlined the basis of the new report in response to an Assembly Question by SDLP Foyle MLA Pl Callaghan.

She stated: "The MATRIX Telecoms report is now complete and I am pleased to advise that it will be formally launched within the next two weeks.

"The report contains a detailed assessment of Northern Ireland's entire telecommunications infrastructure and has found that the advanced telecoms services will support unique world class business activity.

"In brief, the report concludes that the combination of high bandwidth, low latency direct international connectivity, coupled with ubiquitous internal broadband access strongly positions Northern Ireland to exploit six key multi-billion dollar markets.

"These are: Advanced Engineering; Life & Health Sciences; Social and Digital Media; ICT; SmartGrids; and, Financial Services.

"It is clear from the report that the investment by DETI in our Telecommunications infrastructure will now pay dividends for Northern Ireland as we work to exploit the six opportunities identified.

"However, it is essential that we act quickly and, once the report is published, officials from DETI and Invest NI will work together with industry and other stakeholders to take the MATRIX recommendations forward."

Meanwhile, the Minister said she was also monitoring plans for a cross border data centre in Londonderry/Donegal, which she advised were at am early stage.

DETI and Invest NI are also providing advice to the North West Region Cross Border Group (NWRWMG) on how to progress an application for EU funding to help grow the "Smart Economy" in the North West.

She explained: "I am aware that the benefits of the direct international link have heightened the interest of companies for the potential of locating a data centre in the North West. I myself met with the proposers of a cross border data centre, along with local representatives, to hear of their plans. Although at an early stage, I continue to monitor its progress with interest.

"Invest NI, through its Collaborative Network Programme, supported a feasibility study into the potential commercial opportunities arising from Project Kelvin. This report was completed in November 2010 and is due for publication in the near future.

"Led by the Londonderry Chamber of Commerce, Invest NI is an active participant in the Digital Activity Team recently set up in Londonderry to help grow the Digital sector in the city and maximise the competitive advantage of high speed connectivity brought about by Project Kelvin.

"Officials from my Department and Invest NI have also offered advice to the North West Region Cross Border Group, led by Derry City Council, on a European funding application for a project targeted at utilising the potential of Project Kelvin to energise the growth of the 'Smart Economy' in the North West Cross-border region. The project is designed to significantly enhance the region's capacity to create 'Smart Economy' jobs."