Minutes of the 97th Meeting of the Board of InterTradeIreland, the Trade and Business Development Body.
Tuesday 29th September 2009 – InterTradeIreland (11.00am – 1.15pm)
Present:
Board Members:
Dr David Dobbin CBE Chairman
Mr John Fitzgerald Vice Chairman
Mr Ray Doherty
Mr Jack Gilmour
Mr Hugh Logue
Mr Pádraig MacLochlainn
Dr Gerard O’Hare
Mr Tom Scott OBE
Executive:
Mr Liam Nellis Chief Executive
Mr Aidan Gough Strategy & Policy Director
Mr Laurence Lord Corporate Services Director
Ms Margaret Hearty Acting Operations Director
Ms Orla McGlennon Board Secretary
97.1 Apologies.
Apologies were received from Mr Brendan Butler, Ms Rosaleen Doherty, Mr Sean Gallagher and Ms Patricia McKeown.
97.2 Authorisation of Previous Minutes.
The Minutes of the 25th August 2009 Board Meeting were approved by the Board and authorised by the Chairman. The Board also approved the Summary of Board Minutes of the 25th August 2009 Board Meeting for publication on the InterTradeIreland Website.
97.3 Matters Arising.
Mr Nellis informed the Board that Aidan Gough and Eoin Magennis had given a short presentation to the Irish Governments task force on Green Enterprise and had responded to questions in this area.
He advised that both the Strategy Review and the Business Recruitment Campaign update would be discussed during the course of this meeting.
97.4 Chairman’s Business
The Chairman informed the Board of the appointment of the new DETI Permanent Secretary David Sterling with whom InterTradeIreland has a good working relationship.
The Chairman reported that he had attended the Global Economic Forum held in Farmleigh aimed at examining ways the Irish at home and abroad, and those with a strong interest in Ireland, could work together and contribute to the Irish Government’s efforts towards economic recovery. Key business people discussed how the economy can position itself for the upturn by developing Ireland’s “smart economy”, developing Ireland as an “Innovation Island”, improving competitiveness through developing the necessary skills base and exploiting opportunities in green technology, agrifood, tourism, and promoting Ireland’s image abroad.
The Chairman advised the Board that the Remuneration Sub Committee had met recently with the sponsoring Departments.
The Chairman informed the Board that both he and the CEO had been invited to present to the Joint Committee on the Implementation of the Good Friday Agreement in Dublin on the role of InterTradeIreland. He also advised that he had met with Declan Kelly, Hillary Clinton’s Economic envoy to N.I.
97.5 Chief Executive’s Report.
The Board noted the Chief Executive’s Report, which had been circulated in advance of the meeting which included items on the following:
On 25 September the CEO attended and presented at the inaugural meeting of the ‘Global Council of Councils’ (on competitiveness issues) hosted in Washington by the US Council on Competitiveness, with whom InterTradeIreland has a longstanding relationship. He provided an overview of InterTradeIreland’s involvement in competitiveness issues and led the discussion on the importance of international dialogue on competitiveness. While in Washington, he also attended meetings with representatives from the Irish Embassy and the Northern Ireland Bureau and was a guest at events addressed by Joe Biden, the US Vice President and Tom Friedman from the New York Times.
The new US Ambassador to Ireland Dan Rooney will host an event in his residence on 15 October to mark the first successful projects under the US Ireland Partnership. Thus far, 4 projects have received funding The event is being organised by InterTradeIreland.
The latest event in InterTradeIreland’s ‘Entrepreneurship Masterclass’ series took place on 10 September. It was the first such event for companies working in the Clean-tech sector. The eight companies were hosted by Eamonn Fitzpatrick of FM Environmental and Michael Flynn of FLI Environmental. Both hosts and participants reported back on a very productive day.
Following the Board’s approval at their last meeting of the new approach to the Microtrade programme, the CEO chaired a meeting involving Seán Gallagher, the Senior Management Team the Microtrade Project Managers and the CEB/LEA representatives on the Microtrade Steering Committee on 16th September. The object of the meeting was to get agreement on the various elements of the new programme with a view to moving the development of the programme forward to the open tender stage. Following a discussion on the make up of the new programme there was consensus that the correct approach was being taken in the new design and all present agreed to input into the terms of reference and job descriptions for the upcoming tendering exercise.
Over 100 venture capitalists and entrepreneurs attended the launch of InterTradeIreland’s HBAN initiative at the Irish Stock Exchange on 16th September. Following on from successful regional business angel networks with the BICS, HBAN has been developed as the new all-island umbrella network for angel networks across the island to address the gap in the provision of seed and early stage finance. It will act as a hub between companies and different sources of financing, whether state agencies, business incubation centres or private ‘angel’ investors and plans to generate almost €6 million in new angel investment in its first two years of operation. Seán Gallagher represented InterTradeIreland at the launch.
The call for expressions of interest for Round 2 of the Innova rollout closed on 28 August 2009. The campaign was more targeted than the previous round.
The Seedcorn promotional campaign for 2009 is now complete. At 7th September there were 241 registrations for the competition which is an increase on the 228 registrations for the 2008 competition. The Tenders for the Seedcorn markers have been evaluated and 6 external markers have been appointed. The Tender for the Evaluation of the Seedcorn Competition has also been completed.
The third Network & Getwork event with the theme ‘Food and Tourism, Retail’ took place on Thursday 17 September 2009 in the Gresham Hotel, Dublin with over 70 people attending from across the island. Buyers from the Redizor Group, Jury’s Inn, Caroll’s and Musgrave met with selected SMEs at this event.
The Foundation for Science and Technology is a London based forum that provides a neutral platform for debate of policy issues that have a science, engineering or technology element. The Foundation is holding an invitation only event at Queen’s University Belfast on 7 October 2009. The aim is to bring together leading decision makers and opinion formers from business, government and academia to explore and advocate the potential of science and innovation partnerships across sectors and across North/South and East/West jurisdictions. InterTradeIreland is a key sponsor of the event and the CEO extended an invitation to the event to all Board members.
Mid August brought the latest results of the InterTradeIreland Business Monitor for the quarter ending June and extensive radio and newspaper coverage was achieved. The final quarter of the survey covering period July – September 09 will be underway within the next 2-3 weeks and should provide further insight into business confidence on an all-island basis at the current time.
Fifty American students from the Notre Dame Keogh-Naughton Institute visited InterTradeIreland on 25th of September 2009. Aidan Gough spoke to them on the role of business and economic bodies, such as InterTradeIreland, in peace-making on the island of Ireland.
The ‘Infrastructure for an Island Population of 8 million people in 2030’ study currently undertaken by Engineers Ireland is now moving into its later stages with a draft report received. The Taskforce will meet in an all-day workshop in Dublin on 30 September to agree the content and key messages for the final report.
Harry Hamill presented on InterTradeIreland’s enterprise support programmes and policy initiatives to the North/South Committee of the Border, Midlands and Western (BMW) Regional Assembly on 4 September in Co. Roscommon. The potential for future co-operation between the Assembly and InterTradeIreland was discussed.
As a result of a recent tender competition, Innovator and the Centre for Irish & European Security have been appointed delivery agents for the pilot phase of the InterTradeIreland Innovation Connections Programme.
Following Dara Cosgrove’s departure, the position of Communications Manager has been advertised with a closing date of 5th October.
In progressing the development of staff, and preparing for the implementation of the Strategic Review, a series of customised in-house training courses will be made available to all employees over the next few months. This training will provide staff an opportunity to fine-tune interpersonal and influencing skills to complement their functional knowledge.
It was reported that the Ernst & Young Entrepreneur of the Year Awards would take place on 22nd October in the City West Hotel, Dublin.
97.6 2010 Business Plan
The CEO advised that since the last Board meeting, formal notification has been received from the sponsoring departments of a requirement for an efficiency saving of 3% on our 2009 budget and a further 3% efficiency saving on our 2010 budget.
97.7 Board Sub Committee/Steering Committee Reports
Strategy Sub Committee Report
The Chairman presented the revised Strategy Review Outcomes Paper which had been amended to incorporate Board feedback from the last meeting. The Board discussed how best to take the strategic review forward and highlighted the need to ensure that the organisational structure aligns with the revised strategy. Ways to address the demand generated by the roadshow with a reduced budget were discussed including reducing the amount of funding offered and/or reducing activity in some other programme areas. The Board were of the opinion that the communications strategy would also need to be revised in light of the strategy review. The Board endorsed the final Strategy Review Outcomes Paper as presented and recommended that an overview of the review should be circulated to staff.
Fusion Sub Committee Report
Mr Logue reported back from the Fusion Graduation which had taken place on 23rd September in the O’Reilly Hall, UCD which had been attended by some Board members and Minister Billy Kelleher. He advised that it had been an extremely positive, well attended event and feedback to date had been excellent.
The Fusion Sub Committee met on 7th September to review application and with the endorsement of the Fusion Committee the Board approved both projects presented and noted that one project had been deferred.
Acumen Steering Committee Report
Mr Gilmour reported back from the Acumen Steering Committee meeting held on 27th August. With the endorsement of the Acumen Steering Committee, the Board approved the 10 Acumen II projects presented. The Board noted that 4 projects had been rejected and 4 projects have been deferred as detailed in the Acumen Board paper.
The Board also approved the 6 Acumen Graduate applications presented and noted that 2 projects had been rejected and 6 applications had been deferred awaiting further information.
Go-2-Tender
Ms Hearty informed the Board that an increasing number of applications have been received from companies who wish to avail of the Go-2-Tender mentoring element of the programme without wishing to attend the Go-2-Tender workshop. A new set of criteria has been introduced and Enterprise Ireland and Invest N.I. have agreed to continue with their support with both the assessments and the provision of information on all company applications. She reported that the Go-2-Tender Committee has approved this approach, given the current economic climate and the need to respond to the business needs of companies wishing to pursue public sector contracts.
97.7 - For Decision & Approval
InterTradeIreland Business Monitor
Mr Gough reported that in October 2008 the Board had approved funding for the production of InterTradeIreland Business Monitor over a 12 month period. In 2009 the Business Monitor has produced a unique all-island survey of business sentiment, surveying the views of 4,000 owner/managers across the island. In the past year the Monitor has provided a review of business performance, intentions and future expectations alongside insights into the impact of the recession and the development of cross-border trade and cooperation. He advised that it had also proved to be an excellent PR vehicle with regular coverage in the business pages of national and regional newspapers, articles in business publications and interviews on radio stations.
The Board agreed that all publications should be web-based and approved the request to continue to fund the production of the research and survey costs of the Business Monitor for a three year period.
Variations to Letters of Offer
The Board approved the request for an extension to the letter of appointment to FPM to carry out financial assessments on Innova applications.
The Board approved the request to amend the letter of offer to the NI Chambers of Commerce to organise an additional Network and Getwork Public Sector “Meet the Buyer” event.
97.8 For Noting and Approval -
Governance and Financial Matters & Summary Business Plan Progress Report.
The Board noted the Governance and Financial Matters Report and the August Summary Business Plan Progress Report.
97.9 For Information
The Board noted the following reports:
• Time for Business Campaign Update;
• Final Impact Report Fusion – Pilot Phase
• The Accounts and Financial Commentary for August 2009;
• The Communications Update for September 2009;
• August 2009 detailed Business Plan Progress Report;
• Cross Border Trade Statistics Update.
97.10 Any Other Business
Staff Conference
The Board discussed the forthcoming Staff Conference which will take place in the Canal Court Hotel, Newry on 27th October. The key objectives of the conference will be to provide an opportunity for engagement between Board members and staff, to report to staff on the outcomes of the Board Strategy Review and to seek staff input on the implementation and delivery of the strategy going forward.
The Chairman advised the board that he and the CEO will give a presentation on the Strategy Review to all members of staff before the staff Conference.
The Board requested that the Audit Committee should review the travel and subsistence policy.
It was agreed that the Gravity Model would be discussed at the November Board meeting.
…………………………………………Authorised by:
Dr David Dobbin CBE
Chairman, InterTradeIreland
27th October 2009