A survey of Irish firms has found that eight out of 10 believe Irish companies are more innovative since the onset of recession, with disruptive technologies and intense competition affecting every sector.

The results of the RedC survey carried out by KPMG came as the 2015 Irish Times InterTradeIreland Innovation awards were launched.

While 87 per cent of those surveyed believe Irish companies are either more innovative or the same as other countries, the US is still regarded as the most innovative country in the world. Germany tops the list of European countries.

Fifty-one per cent think there needs to be more financial incentives or grants and 36 per cent believe the Government needs to address taxation issues to support innovation.

The 2015 Irish Times InterTradeIreland Innovation Awards were officially launched at events in Belfast and Dublin last week, hosted by University of Ulster and KPMG.

Now in its sixth year, the key categories for the awards are: agri-food; bioscience; creative industries; energy and the environment; IT and telecommunications; and manufacturing. The competition is now open for entries at www.irishtimes. com/innovationawards. The closing date for applications is 5pm on Monday December 1st.