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£16.3 million investment in Artificial Intelligence Collaboration Centre

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Invest Northern Ireland and the Department for the Economy have announced a £16.3 million investment in a new state of the art Artificial Intelligence Collaboration Centre (AICC), to be based at Ulster University in partnership with Queen’s University Belfast. 

Pictured (L-R) are Archie Clements, Pro-Vice Chancellor of Research and Enterprise, Queen’s University Belfast; Dónal Durkan, Executive Director of Strategy and Partnerships, Invest Northern Ireland; Professor Liam Maguire, Pro-Vice Chancellor of Research, Ulster University; Keith Forster, Director of Innovation, Research and Enterprise, Department for the Economy.

The Centre will focus on increasing business awareness and adoption of Artificial Intelligence (AI) technology to boost competitiveness and productivity across all industries including logistics, finance, life-sciences, manufacturing and Agri-Tech. 

The AICC was formally launched at an event on Ulster University’s Belfast campus today. As well as speakers from both Universities and Invest Northern Ireland, attendees heard reflections from Brian Hills, Chief Executive of The Data Lab, on their journey to setting up a similar AI centre in Scotland. There was also a panel discussion on the opportunities and challenges for AI adoption in Northern Ireland with contributions from Kainos, FinTrU, Analytics Engines, Whitespace and both Universities.

“We are in the midst of an AI driven revolution and through this investment we will harness the transformative power of AI, ensuring its potential is diffused and applied to a broad business base which will encourage economic growth and be of great benefit to our people and society.

“This collaborative project, with bases in Belfast and Derry, will serve as a hub for innovation, bringing together research expertise and industry professionals to collaborate on cutting-edge projects and solutions.

“The centre, the people who work there and the important work it will deliver will be an important contributor to my wider economic vision as we aim to raise productivity, promote regional balance, reduce carbon emissions and deliver good jobs.

“As part of today’s announcement, the Department has offered almost £2.5 million to support additional AI and Data Science postgraduate qualifications to be delivered by Ulster University and Queen’s University Belfast to expand the capacity of our talent pipeline to meet industry need.”

Economy Minister: Conor Murphy

The AICC, with bases at Ulster University’s Belfast and Derry/Londonderry campuses and Queen’s, will also encourage greater industrial innovation and collaboration with academia to increase both local and FDI investment. The provision of additional training and professional qualifications in AI will also be delivered through both Universities.

“Our support of £13.8 million over the next 5 years is to increase business knowledge and adoption of AI technology. AI is one of the most important technological developments of the modern era and has the potential to deliver important benefits such as R&D excellence, skills development and increased competitiveness. With some 100 local companies already currently using AI technologies in their operations we have an excellent foundation to build upon our capabilities locally.

“As a region we are already recognised as an area of excellence in the realm of Big Data and data analytics. We now have the opportunity to make our mark in the AI arena and to realise the economic benefits that will come from adopting AI right across our business landscape to improve productivity, deliver good jobs, reduce costs and enhance sectoral competitive positioning.”

Dónal Durkan, Executive Director of Strategy and Partnerships at Invest NI,

“As an academic institution we are proud to be leading the way in cutting edge research relating to the application of AI in business settings. The AICC represents a new resource of 25 dedicated staff who will use their existing knowledge and expertise to inform, educate and empower businesses to adopt AI, as well as stimulating new research and innovation for the responsible adoption of AI.

“In partnership with Queen’s University Belfast we will deliver 390 funded Postgraduate AI qualifications and also classroom-based or online skills training to thousands of workers across Northern Ireland over the next five years. 

“The AICC looks forward to working in conjunction with industry to increase adoption of AI while simultaneously creating the AI workforce of the future through the development of new qualifications.” 

Professor Brian Meenan, the Ulster University AICC Principal Investigator,

“AI and machine learning are evolving at an amazing rate and major developments are occurring at a monthly level. It offers enormous potential to transform business operations, so university-industry interaction is vital to ensure effective and fruitful engagement. Queen’s academics can provide insights into productivity improvements and help create innovative solutions for challenging problems using state-of-the-art AI approaches.”

Professor Roger Woods, the Queen’s University Principal Investigator
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A cross-border location like no other

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A Unique cross-border location.

There’s no place like home. And there’s no location quite like Derry and Strabane, a unique cross-border region offering an ideal combination of city, coast and countryside.

Whether you’re returning home, or relocating here for the first time, a move to the North West can bring rewarding work opportunities and a life rich in culture, community and breathtaking scenery. The investment proposition here is equally as enticing, with the UK, Ireland and EU markets on your doorstep, and robust local and national support.

A cross-border hub

As the only cross-border city on the island, Derry has access to multiple markets, a highly skilled young workforce which is culturally literate in operating across two jurisdictions, and investment support available on both sides of the border.

Whether you’re relocating to the North West to grow your business here, work remotely, or join one of our leading local employers, you’ll find excellent superfast broadband availability across the region. We enjoy a 67-millisecond connection with the East Coast of the USA – among the fastest in Europe. As well as 97% superfast broadband coverage to facilitate remote working.

Work opportunities

You might be returning from university seeking a fulfilling graduate role. Maybe you’ve racked up years of experience, and are ready to take the next step in your corporate journey. Or perhaps you want to move back to the North West with your family, to enjoy our fantastic quality of life without compromising on career goals.

Whatever stage you’re at in your career, you’ll find job opportunities in a wide range of sectors here in Derry and Strabane – from award-winning local financial services and engineering firms, to innovative tech and life sciences companies, and major multinational brands.

Support for investors

If you’re looking to grow your business in the North West, Derry City and Strabane District Council can offer investment support, trade missions and connections with the City of London Corporation and international partners to assist and promote your venture.

Organisations such as Intertrade Ireland can help your business explore cross-border markets, while on a national level, Invest NI and IDA Ireland are also there to assist your venture.

The right balance

Quality of life here in the North West is one of the things we value most. It’s why a Sunday Times survey named “cool, credible and cheap” Derry as the best place to live in Northern Ireland.

Derry is a vibrant city – the fourth largest in Ireland – with a young population, a great primary, secondary and third level education system, and famously friendly people (we were ranked number one for community spirit in an NI poll). And of course, our award-winning restaurants and bars are ‘LegenDerry’.

A gateway for exploring

Derry and Strabane are also brilliantly located for enjoying the best the North West has to offer on both sides of the border, nestled where the Wild Atlantic Way meets the Causeway Coastal Route.

Fancy a sunset stroll after work, or a weekend adventure? You can reach a stunning Donegal beach within 20 minutes’ drive of Derry, and even head up to the North Coast for a surf. Or, in less than half an hour’s drive from Strabane town centre, you can be hiking through the breathtaking Sperrin Mountains.

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Spotlight interview – Aoife Warren, Partner, EY Northern Ireland.

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Aoife Warren is a Partner with the global professional services firm EY. As part of EY Northern Ireland’s team, Aoife works with clients across Ireland, the UK, and globally. She is also involved in EY’s plans to establish a new North West hub, and create 1,000 new jobs across Northern Ireland in the next five years. Donegal-born Aoife graduated from Queens University Belfast with a Masters in Computer-Based Learning and lived and worked in the city for around 20 years before relocating to Derry with her family in 2021.

What can you tell us about the new EY hub in the North West?

It is really exciting that as part of our growth aspirations, we will seek to establish a regional hub in the North West to access the breadth of talent in the area.

I’m delighted to be working with Rob Heron, EY NI Managing Partner, on developing the strategy to grow our business in this region.

While EY has its roots in audit, tax, corporate finance and consulting services, over recent years it has expanded rapidly in response to growing client demand to include new offerings in areas such as technology and people advisory services, strategy, Artificial Intelligence and data analytics, among others. 

It is our intention to ensure some of these new roles are based in the North West and accessible to all talent in NI.

Why was the North West chosen?

This area was chosen for growth and development as a result of the untapped talent and highly skilled workforce. We are excited to leverage the diverse skillsets here as well as support new skills development through the Assured Skills Academy Programme run by the Department for the Economy.

We also recognise the broader collective focus between government, local councils and higher education, working together to continue to grow the North West region as a place to work and live.

The recent developments in infrastructure, connectivity, and education are attractive to a global firm like EY, establishing itself in the region.

What type of roles will EY be hiring for over the next five years?

As EY expands and develops its operations in Northern Ireland, we see growth opportunities in areas such as technology, data and analytics, people and advisory and risk as well as supporting the development of our core corporate financial and consulting services.

Globally, EY operates a hybrid working model, a model we will also adopt in the North West. We are currently looking at office space to support our ambition to establish our hub as soon as possible.

What does your role involve?

I am a Consulting Partner in EY Northern Ireland, and I work with teams and clients across Ireland, the UK and globally.

I support clients who are preparing for a significant business transaction, this involves helping companies establish or improve business processes.

I am also People Lead for our Northern Ireland operation, which involves continuously reviewing how we are attracting, developing and retaining the best people for our business.

What is an average day at work like for you?

We operate a hybrid working model, so when I’m working from home – early morning is generally spent getting my six and seven-year olds ready for school!

If I am not working from home, I will generally leave early to beat the traffic and get to Belfast by 8am. Once or twice per month I will fly to London directly from Derry Airport for client meetings. The days are spent in a mix of internal strategy and operations meetings, and client facing or business development meetings. And sometimes managing to grab a coffee or lunch with someone during the day.

What I love about my role is that I have the opportunity to work on big, complex and often global, transactions but yet still live in Derry/Londonderry close to my family and friends. I feel very privileged to be able to get the best of both worlds.

Why did you decide to return to the North West?

We loved living in Belfast but my husband is a proud Derry man and I’m from Donegal, so our decision to move ‘home’ was very much driven by wanting to be nearer to family. There are a multitude of other factors including the friendly people, the close-knit community, housing, and lifestyle. We just love this part of the world – the great outdoors, parks, and the beautiful beaches of Donegal. We can finish work and go to the beach with the kids in the evening – when we get the weather!

How do you spend your time off?

I like to meet up with my friends and walk the ‘two bridges’ followed by coffee and breakfast along the quay. As a family we love to explore all the woods, beaches and parks of Derry and Donegal. I love art and dabble a little bit with painting. I try to do weekend workshops with local Derry/Donegal artist Natasha Barr. She runs them from her studio in Quigley’s Point overlooking Lough Foyle – it’s a great way to de-stress and take time-out. 

What advice would you have for someone considering a move back to the North West?

I think anyone considering it should weigh up all the factors, do their research and determine when the timing is right for them…but ultimately for us it has been a very positive move.

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FinTrU announces the creation of 300 new jobs in the North West

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FinTrU has announced plans to invest over £20m by 2027, which will see the creation of 300 new jobs in Londonderry and a significant investment in the skills of its Northern Ireland wide staff.

Supported by Invest Northern Ireland, the new roles will see FinTrU’s North West operation double in size.

Founded in 2013 by Darragh McCarthy, FinTrU is a multi-award-winning technologically enabled Regulatory Solutions company that works with Global Investment Banks. FinTrU specialises in the areas of KYC, Compliance, Legal, Risk & Controls and Operations. The Financial Times has named FinTrU as one of Europe’s fastest growing companies for two years in succession.

Pictured L-R are: Mel Chittock Interim CEO, Invest NI; Steven Murtland Chief Financial Officer; Kathleen McDermott Executive Director; Greg McCann Executive Director and Darragh McCarthy Founder & CEO.

Darragh said the latest expansion is “a significant step which will see FinTrU grow to over 1,500 employees in Northern Ireland and significantly increase our competitiveness, catapulting us into a new era of business growth.

“FinTrU is celebrating its 10th birthday in 2023 and the North West holds a special place in the heart of our business. Since making our first investment in Derry/Londonderry in 2018, we have been blown away by the talent and were able to surpass our initial jobs target one year ahead of schedule. Following the announcement of our Letterkenny site last year, our newest investment is a demonstration of our ongoing commitment to develop and champion the North West region and our staff who have helped us to grow here.

“Invest NI has been a vital partner in enabling our impressive growth to date and also in securing the long-term sustainability of our operations in both Derry/Londonderry and Belfast.”

Greg McCann is Executive Director & Head of FinTrU’s North West Office. Commenting on the talent offering in the North West, Greg said:

“FinTrU is an indigenous company to Northern Ireland and our people strategy is to attract, develop and retain the best talent in the marketplace. There are a lot of high-quality graduates coming from the local universities and colleges who have supported us to win new customers and grow our sales globally. We have also welcomed a large number of experienced professionals, who have returned to the North West to pursue the high-quality careers we can provide. It was a result of our fantastic talent that allowed FinTrU to win the Large North West Business of the Year at the North West Business Awards in 2022.”

Kathleen McDermott, FinTrU Executive Director, added:

“We have tripled our turnover in the North West in the last three years and as we further invest in the development of our people, we want to equip them with the skills and capabilities to further drive the growth and success of FinTrU. Our partnership with Invest NI empowers FinTrU to deliver specialist skills development programmes, which are critical to our future growth.”

The investment will offer valuable job opportunities for graduates of all disciplines and those wanting to change careers. Roles range from Graduate roles to more senior experienced positions.

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Speaking whilst on a visit to the company’s City Factory Office, Mel Chittock, Interim CEO of Invest NI said the investment was a vote of confidence for the North West:

“Job creation is only one part of the equation to build a productive, knowledge based, export driven economy; skills development is another. This investment delivers on both: 300 new jobs and a skills development package, which will see the company invest in its greatest asset, its staff.

“A highly and appropriately skilled workforce has a crucial role to play. The increased skills and capabilities that FinTrU gains will enable faster and increased company growth and will spearhead the development of a new Financial Services cluster in the North West region. 

“We have had a long partnership with FinTrU, since we first supported them to invest in Northern Ireland in 2014. We are pleased to be able to support this latest investment. Its emphasis on developing future leaders fits with the Department for the Economy’s 10X Vision by creating valuable job opportunities and addressing skills imbalances in the North West region. I am pleased to say that once in place, the jobs will contribute £8.6m of additional annual salaries to the local economy.”

FinTrU’s market-leading Graduate Programme is now open for applications in Derry/Londonderry. Applications can be submitted via www.fintru.com/grad. For a range of more experienced career opportunities, visit www.fintru.com/careers.

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C-TRIC celebrates International Clinical Trials Day

Derry’s cutting-edge Clinical Translational Research and Innovation Centre, C-TRIC, has showcased its work on International Clinical Trials Day.

The award-winning research facility, based at Altnagelvin Hospital, houses the Research and Development Office, Ulster University’s Personalised Medicine Centre, and the Research Nurses Office.

It connects patients directly to national and international research opportunities, and aims to improve patient care in the community.

It held an event on International Clinical Trials Day in May, which Caitríona Lavery, research nurse manager at C-TRIC, said had been an opportunity to celebrate the facility and the team behind it.

She added: “We work together to build a better healthcare future for all, providing improved patient care and outcomes for current and future patients.”

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£50 million data innovation hub for manufacturers to accelerate digital tech

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  • £50 million data innovation hub at Ulster University to support UK manufacturers to accelerate development of digital technologies
  • Dedicated grant funding will be provided to manufacturers to implement expert recommendations from data scientists
  • Adoption of digital technologies such as Industrial Internet of Things and artificial intelligence is key to driving manufacturing productivity, sustainability and competitiveness

UK manufacturers are to have their productivity and competitiveness boosted thanks to a new data innovation hub and testbed led by Ulster University, Industry Minister Lee Rowley announced today (Wednesday 18 May).

The £50 million Smart Manufacturing Data Hub (SMDH) will support small and medium size manufacturers to capture and better utilise their data, helping them increase productivity, growth and sustainability. Businesses in sectors spanning from food and drink, aerospace and many more will be supported to develop, test and adopt the latest data-driven technologies.

Nearly 10,000 manufacturers are expected to benefit from the hub and 13,000 jobs will be supported, helping to boost economic growth and level-up regions across the UK. The hub will be supported by £20 million from the UK government backed Made Smarter Innovation Programme, along with £30 million of business co-investment.

UK Industry Minister Lee Rowley said: 

“As we embrace the digital manufacturing revolution, it is vital manufacturers across the UK can capitalise on the productivity and growth gains that come with the adopting the latest data-led digital technologies.

“The Smart Manufacturing Data Hub, backed by £20 million of government funds, will support companies to implement cutting edge production and process techniques themselves, helping bring the next generation of products to our shelves in a more efficient and sustainable way.”

The hub will host an online Manufacturing Data Exchange Platform that will enable companies to submit their manufacturing data and receive recommendations in return, helping to improve their products and processes. A dedicated £5 million fund will then provide companies with grants to make further improvements in areas of critical importance to their business.

Virtual manufacturing testbeds will allow companies to create a “digital twin” to simulate the implementation of digital technology on their own processes, harnessing data from other manufacturers that have already adopted the technologies to encourage investment.

The SMDH will also provide manufacturers with expert analysis of their emissions and energy data from support staff specialising in data analytics and engineering, which will help them target reductions in waste, energy use and ultimately improve sustainability.

Pro Vice Chancellor Research at Ulster University Professor Liam Maguire said:

“Made Smarter provides the opportunity for innovative collaboration that will be transformative in driving industry competitiveness. At Ulster University, we have a strong track record of collaboration; using our research and technology to act as a catalyst for change, innovation and positive economic, social and environmental impact. Made Smarter is another important project in the broader realisation of the Derry and Strabane City Deal agenda, further enhancing the attractiveness of investment and driving economic growth”

The SMDH will first be accessible by small and medium size manufacturers in Northern Ireland in the coming months, before going live for companies across the rest of the UK. The programme will be supported across the rest of the UK by 12 delivery partners, including the University of Cambridge Institute for Manufacturing, Industry Wales and Scottish Engineering.

The funding comes as part of the £300 million Made Smarter Innovation Challenge, a collaboration between UK Government and industry designed to support the development and increased use of new and existing industrial digital technologies, including artificial intelligence and virtual reality.

The challenge aims to deliver a resilient, flexible, more productive and environmentally sustainable UK manufacturing sector. It will also develop new technologies that can be exploited commercially across the manufacturing industry, worldwide.

Today’s announcement builds on the government’s Help to Grow schemes, which are helping smaller businesses to boost their productivity with training and software that is proven to get results.

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North West Talent Pool is the Cornerstone to Allstate Northern Ireland’s Success

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The impressive ecosystem of multinationals based in the North West of Ireland provides the people of the region with strong employment and development opportunities across diverse sectors.

One of the North West City Region’s largest employers, Allstate NI was established in 1998, to provide high quality software and business solutions to support its US-based parent company, the Allstate Corporation. Protecting people from life’s uncertainties with more than 113 million proprietary policies, Allstate offers a broad array of protection products through multiple brands and diverse distribution channels, including auto, home and life assurance.

Employing 900 people across the North West in offices in Derry and Strabane, the region is of major strategic importance to the company.  Their Derry office celebrating 20 years in business last year.

Allstate Strabane Office

Based in Buncrana, Co. Donegal, Talent Acquisition Manager, Alan Fletcher explains Allstate’s reasons to locate in the region with “The initial set-up about getting access to a deep talent pool available in the wider city region. The North West has talented individuals who make a great contribution to the success of all our businesses.”

Alan Fletcher: Talent Acquisition Manager

Alan is one of many cross-border workers in the Fortune 100 firm. He along with fellow colleague Maria McColgan, are both natives of Donegal and are part of a growing list of digital professionals who speak glowingly about Allstate and the North West City Region.

Maria speaks about the Allstate experience; “the social aspect of the company was beyond anything I had ever experienced, there is so much inclusiveness here and I felt this also supported my development professionally.”

Maria McColgan: Product Manager (Allstate)

Alongside her role as Product Delivery Manager, Maria is also as an ‘Inclusion Champion’, ensuring training is available for all employees and that everyone is happy coming to work. As well as this, Maria is an advocate for Women in Technology at Allstate, “I feel that as a female in IT that there is so much opportunity for which we need to make the next generation aware of.”

Looking to the future, Allstate aims to keep on top of technological advancements by looking for new talent and skillsets in areas such as Artificial Intelligence, Machine Learning, Robotic Process Automation and Cyber Security.

The company have embarked on an ambitious investment in re-skilling existing employees in these areas and identifying the next generation of talent, through their 3-year graduate development programme.

At least 100 graduate positions are expected to be filled this year with successful candidates being put through a journey of continuous professional development at Allstate, exploring roles in the skillsets identified such as AI, machine learning, production support and product testing. “The talent, skills and connectivity found in the North West is a major draw for Allstate to grow our talent centres,” comments Alan.

The company offers a flexible hybrid working policy, allowing employees to design a work schedule appropriate for their needs, while also helping to achieve the perfect work-life balance.

When touching on their experiences of living and working in the North West, the benefits were clear. Living in Carndonagh and working in the Calayst building in Derry, Maria comments that her commute through Donegal to work is “way more appealing that a 30-minute sit in traffic.”

“I suppose the major bonus is working in a close-knit community that the North West region provides”, Maria concludes.

“For me it is being able to have a global career in a unique location. I have been able to work in both Donegal and Derry for some of the biggest companies in the world” says Alan.

He also delves deeper into the ecosystem of collaboration between multinationals and high-quality educational institutions as Talent Acquisition manager: “I have built academic partnerships with the University of Ulster, North West Regional College and Atlantic Technological University to name a few and it has been great to see exciting job opportunities being created in the North West region.”

“The fact the region has been voted the best place to work in Northern Ireland shows we are heading in the right direction.”

With the MIT Innovators Under 35 Event set to take place in the gTeic @ GaothDobhair this week, showcasing the vast array of talent of young people across Europe and the North West City Region, it’s assuring to see that investment in the talent of tomorrow is fundamental to Allstate’s operations within the region. 

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FinTrU wins Queen’s Award for Enterprise 2022 for International Trade

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FinTrU, a technologically enabled regulatory solutions company, has been honoured with a Queen’s Award for Enterprise (International Trade) in 2022.

The company won the Queen’s Award for International Trade for ‘Outstanding Continuous Growth’ in overseas sales over the last six years.

Headquartered in Belfast, FinTrU has rapidly expanded in recent years with additional global offices in Derry/Londonderry, New York, London, Dublin and Maastricht.

FinTrU Founder & CEO, Darragh McCarthy, said “It is an absolute honour for FinTrU to be recognised in this way. The Queen’s Award for Enterprise is an incredibly prestigious accolade with a vast array of highly respected winners over the years. We are delighted at FinTrU to see the hard work of our employees rewarded with this fantastic achievement.”

Employing over 1,000 people, FinTrU was founded in 2013 and provides technologically enabled Regulatory Solutions for Investment Banks – specialising in the areas of KYC, Compliance, Legal, Risk & Controls and Operations.

Now in its 56th year, the Queen’s Awards for Enterprise are the most prestigious business awards in the country, with winning businesses able to use the esteemed Queen’s Awards Emblem for the next five years.

Source: Written from press release.

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PwC takes new tech space at Ulster University’s Magee Campus

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PwC is opening a space at Ulster University’s Magee Campus in Derry/Londonderry as part of its investment in innovation in Northern Ireland.

The space will house research and development for its £40m Advanced Research and Engineering Centre (ARC), which launched last year in conjunction with Ulster University and Queen’s University Belfast, with support from Invest Northern Ireland. 

Through its alliances with government and academia, ARC’s innovation ecosystem is looking to build solutions to complex business problems into the next decade and beyond. This latest collaboration will see Ulster University students and researchers, at the Jordanstown and Magee campuses, work alongside Operate staff.

The new space will be used primarily as a base for ARC staff based in the North West of the country as PwC Operate ramps up recruitment from beyond its Belfast base. PwC Operate will start with four people at Ulster University’s Magee campus, but is looking to establish a larger team as ARC builds out its capabilities. 

Ian McConnell, PwC Operate Lead Partner, commented: “We’re delighted to be establishing a presence in the northwest. ARC’s vision includes university postgraduates working on research projects that feed into the software engineering function of ARC, as we develop solutions to our clients’ problems. ARC will continue to be based in our Merchant Square HQ in Belfast, but we’re keen to recruit from as wide a talent pool as possible. To be able to offer opportunities to people across the country is something very close to my heart and I believe fundamental to the success of this initiative.”

Jim Harkin, Head of the School of Computing, Engineering and Intelligent Systems from Ulster University also added: “It is positive for the Derry and Strabane City and District that PwC’s Operate will open an office at Ulster University’s Magee campus. The new office located on the Magee campus reflects the growing interest in doing business in Derry/Londonderry because of the easy access to talented people and innovative research from the Intelligent Systems Research Centre. As we develop research centres for robotics, AI and personalised medicine in the years to come as part of the Derry & Strabane City Deal, we will see more and more companies growing their presence in the North West and creating high-tech jobs.” 

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Stormont approves £15m funding for Ebrington hotel

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The Stormont Executive has announced £15m worth of investment for a new 152-bed hotel in the Ebrington area of Londonderry.

The work will involve the refurbishment of the clocktower and five buildings in the former military base.

The first and deputy first ministers visited the development on Thursday to confirm the plans.

About £7m is coming from the executive office’s investment fund and almost £2m from Invest NI.

First Minister Paul Givan said it was “another step forward” for Ebrington and for the city.

“It continues to grow as a vibrant, modern city which is looking to the future with confidence – and there is a real sense of that optimism here today,” he said.

Mr Givan paid tribute to those involved in the redevelopment of the 29-acre site at Ebrington, which had been a military barracks until 2003.

Ebrington’s development is widely regarded as a key to Derry and the region’s wider economic growth.

“As today’s ideas become tomorrow’s opportunities, I will be watching with interest as potential turns into reality for Londonderry,” he said.

Deputy First Minister Michelle O’Neill said the start of work on the hotel “is a milestone day for Derry”.

“Together with the Grade A office space due to be completed soon, this new hotel will bring a renewed sense of vibrancy and a real boost to the regional economy,” she said.

“I offer my congratulations to the developers and all who have played a part in getting us to this point,” Ms O’Neill added.

Plans for the hotel were unveiled in 2017 and granted planning permission by Derry City and Strabane District Council the following year.

Ebrington is the largest regeneration site in Derry.

A former naval base that opened in 1841, it was known as HMS Sea Eagle during World War Two and was an important part of the North Atlantic Command.

Work is expected to be completed on the four-star hotel in the summer of 2023.

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