Innovation City Belfast

WE’RE A NATION OF INCREDIBLE RESEARCHERS AND INNOVATORS READY TO SOLVE COMPLEX CHALLENGES…

AND HARNESS THE CHANGING REGULATORY ENVIRONMENT TO ACCELERATE SOLUTIONS TO GLOBAL MISSIONS

THE SOLUTION

A new Northern Ireland-based regulatory ecosystem that enables rapid development of systems, products and services from conception to global certification.

G-SIRT –
GLOBAL CENTRE
FOR SECURE AND
INTELLIGENT REGULATORY
TECHNOLOGIES

The final piece in the puzzle

  • Secure RegTech hub located in Northern Ireland supporting national need
  • A global centre of excellence
  • Combining businesses, researchers, policy makers and regulators to develop cutting-edge regulatory technology
  • Starts with FinTech but extends to MedTech, advanced manufacturing, net zero and beyond
  • Places UK at the forefront of global regulatory technology development, providing significant export opportunities.

NI ECOSYSTEM

NI’s innovation landscape


Manufacturing


Screen and media


Healthcare


Fintech / Cyber

Digital twin (planned)

  • Digital Catapult planning national Design Smarter centre in Belfast
  • Provides virtual counterpart to physical objects
  • Digital simulation will greatly streamline prototyping process
  • UK’s first dedicated digital twinning and cyber physical infrastructure centre

THE OPPORTUNITY

UK positioned as global hub for innovation

£300m public and private investment required over 6 years

Capitalise on 300% growth in global RegTech sector to 20 billion dollars between 2019 and 2025

£931 million GVA by 2031 and 16500 new jobs

LEVERAGING EXISTING EXPERTISE

FINTECH SECTOR

74 companies

7000 employees

Worth £392 million annually to NI economy

£227 billion global market by 2022

  • Belfast #1 globally for financial tech inward investment and Top 5 for cyber security
  • Secure regulatory and compliance solutions driven by tech and data non-existent elsewhere
  • G-SIRT key to driving new competitiveness
  • Harnessing the existing expertise of the Centre for Secure Information Technologies (CSIT)
  • By digitising validation and regulation processes, G-SIRT accelerates journey to global certification
  • Faster entry to market for products and services
  • Improved compliance with regulation at reduced cost

Opportunity: Establish NI as the leader for secure RegTech

“Northern Ireland is the natural home for a RegTech Centre of Excellence”

SET THE AEROSPACE SECTOR SOARING

NI AEROSPACE SECTOR

100 year heritage in Northern Ireland

100 plus companies

7000 employees

Responsible for 50% of UK aircraft interiors market

  • Currently producing 1/3 of world’s aircraft seats
  • Testing locally, enhanced design, and quicker entry to market required
  • Advanced manufacturing excellence, digital twin and new industry-funded testing capability can facilitate that
  • Combine with G-SIRT to accelerate global certification with EASA or CAA

Opportunity: Grow UK's position as leader in £15 billion global aircraft interiors market

“For many years, we have had to send our products and our engineers to various locations across the EU and the US”

GROWING THE GREENTECH INDUSTRY

GREENTECH SECTOR

£163 billion invested internationally (2020 to 2021)

UK 4th nation globally in attracting VC funding

Driving race to net zero

  • Zero-emission ferries and hydrogen-fuelled buses among the incredible green technology being delivered in Northern Ireland
  • Solutions will revolutionise transport and help the UK and world meet net zero targets
  • R&D and prototyping process fast-tracked by harnessing digital twin capability
  • Digital twin process not accepted by regulators – G-SIRT required to provide validation

Opportunity: UK will achieve net zero targets

“GreenTech needs faster solutions, but it also needs faster regulatory bodies”

TRANSFORMING LEGAL LANDSCAPE

LEGALTECH SECTOR

£850 billion value of global legal sector in 2030

Globally recognised legal firms operate in Northern Ireland

NI Legal Innovation Centre launched in 2016

  • NI’s Legal Innovation Centre was first of its kind in the UK
  • Collaborates with global law firms to research use of AI, Data Analytics and Computational Technologies and develop new automation products and services
  • Legal processes can be automated and made more efficient 
  • G-SIRT required to obtain the global certification required to go to market
  • Place UK in pole position with Legal Technology budgets to treble by 2025

Opportunity: Establish UK as global centre for certification and compliance in legal services digitisation

“G-SIRT will put Northern Ireland on the world stage”