SPENDING on research and development in Northern Ireland has increased by almost a quarter in a year.
Officials figures showed £749.6 million was spent on R&D in 2015 by businesses, government and higher education bodies.
The vast majority of the increase - 90 per cent - was driven by the private sector.
The data, from the Northern Ireland Statistics and Research Agency (Nisra) represents the highest value on record for the north.
Of the total spend, 72 per cent was by businesses (£540m) with the higher education sector accounting for £192.9m (26 per cent) and government spending £16.7m (2 per cent).
Only spending by government decreased over the period, the figure falling by £1m.
Economy minister Simon Hamilton said the was "encouraged" by the statistics.
"Investment in research and development is critical to future economic growth. With expenditure up by 24 per cent on 2014 and the number of companies, particularly indigenous companies, spending on R&D increasing from 659 to 714, this is definitely a move in the right direction and something I want to further encourage," he said.
“We are only at the start of our journey having come through the downturn and made significant strides forward in re-balancing our economy. Innovation in all its forms is central to this journey and with some 90 per cent of the latest increase in R&D expenditure coming from business in the private sector, I think we can feel confident that we are heading in the right direction.”
Meanwhile, 83 per cent per cent of businesses that engaged in R&D expenditure were locally owned.
The expenditure of such locally owned companies increased by 27 per cent (£40m) between 2014 and 2015.
Externally owned companies accounted for 65 per cent (£349.6m) of business R&D expenditure over the period.
The expenditure of externally owned companies increased by 34 per cent (£89.5m) between 2014 and 2015.
