Levels of entrepreneurship in Northern Ireland fall well behind the rest of the UK and Ireland, according to a University of Ulster lecturer.

Despite the most recent figures indicating that levels of entrepreneurial activity are increasing, Northern Ireland remains well behind in world terms.

Professor Terri Scott, suggested that the province needed to "turn to the future" to remedy its entrepreneurial shortfall.

Delivering a lecture on innovation and entrepreneurship at the university's Magee campus in Londonderry, Professor Scott said: "We need to make better use of our role models,' she told an invited audience of academics, business leaders and key opinion formers".

We need to have a society that embraces innovation and entrepreneurship in all sectors

Professor Terri Scott

"The champions of business simply do not have the same cachet with young people as do pop singers and professional footballers.

Professor Scott takes up a new post as Managing Director, Innovation and Entrepreneurship with Invest Northern Ireland, the new economic development body next week.

"Achieving world success in business brings high rewards, and it requires phenomenal industry and talent," she said.

"Our value system must reflect the contribution made by those who have been creative enough to take a risk.

"Northern Ireland does not have a business culture that encourages risk-taking."

"If we want to do more than just survive - if we want to succeed - we need to have a society that embraces innovation and entrepreneurship in all sectors. If we do not apply new remedies, we may expect new evils."