Northern Ireland 'lacks entrepreneurial spirit'

Terri Scott, Ulster University's director of development, has said that Northern Ireland is lagging behind the rest of the UK and Ireland in entrepreneurship.

Professor Scott, who has become full-time managing director of innovation and entrepreneurship with Invest Northern Ireland, said the province did not have a business culture that encouraged risk-taking.

"The champions of business do not have the same cachet with young people as do pop singers and professional footballers. Achieving world success in business brings high rewards, and it requires phenomenal industry and talent. Our value system must reflect the contribution made by those who have been creative enough to take a risk."