СÄñÌåÓý

NovaСÄñÌåÓý-Supported Companies Plan to Create 1,100 Jobs and Raise €290 million over the Next Two Years

- Minister Richmond TD launches NovaСÄñÌåÓý 20-Year Anniversary Report

- Over 550 companies and early-stage ventures supported since 2003

- NovaСÄñÌåÓý entrepreneurial community raised €1.3+ billion in equity funding

Minister of State for Business, Employment and Retail, Neale Richmond TD today officially launched a new report, entitled NovaСÄñÌåÓý Ideas to Impact Since 2003. The report highlights the economic and societal impact of NovaUCD and marks the 20^th anniversary of the official opening of the hub of innovation and start-up activities at University College Dublin (СÄñÌåÓý).

Since 2003, СÄñÌåÓý has supported 550+ companies and early-stage ventures through the services and supports provided across the University by NovaСÄñÌåÓý, and through business support programmes run and managed by NovaСÄñÌåÓý. In addition, the NovaСÄñÌåÓý entrepreneurial community has raised €1.3+ billion in equity funding over the last 20 years.

NovaСÄñÌåÓý is currently supporting 70+ start-ups and established companies to grow and scale on the national and global stage. Based on the results of a short survey these companies collectively plan to create over 1,100 jobs and raise over €290 million in funding during the next 2 years.

Minister Neale Richmond TD said, “Innovation opens the door to future growth, future prosperity and future jobs and I am delighted to be here to see first-hand the impact NovaСÄñÌåÓý has had on start-ups, both today and over the last 20 years.  Start-ups are the life blood of the Irish economy and the report clearly demonstrates СÄñÌåÓý’s leadership role in supporting entrepreneurs and their contribution to economic and social development.

Over the past twenty years, NovaСÄñÌåÓý has supported over 550 companies, raising over €1.3 billion in funding and I look forward to seeing what the future holds. Government will continue to support NovaСÄñÌåÓý through a range of funding initiatives to ensure that the pipeline of disruptive and innovative companies continues to expand from this excellent facility.”

Professor Orla Feely, President, University College Dublin, said, “I would like to thank Minister Richmond for being with us today to mark the twentieth anniversary of the official opening of NovaUCD and to formally launch the Ideas to Impact report.

СÄñÌåÓý is committed to playing a strategic role in Ireland’s innovation and knowledge exchange ecosystem as an enabler of economic growth and talent development. One way we support this commitment is through NovaСÄñÌåÓý which is focused on the commercialisation of our research outputs, creating new ventures, nurturing and scaling start-ups and established companies with global reach, and creating jobs.

I welcome this new report which outlines NovaСÄñÌåÓý’s achievements and impressive metrics and impact since 2003 and highlights the significant funding and job creation plans of the NovaСÄñÌåÓý entrepreneurial ecosystem over the next two years. It also includes stories of how the University through NovaСÄñÌåÓý’s activities strives to makes a difference to the lives of others in Ireland and in the wider world and contribute to areas of global concerns.”

Pictured (l-r) at NovaUCD are; Dr Fiona McGillicuddy, СÄñÌåÓý School of Medicine, project lead, MetHealth, an emerging СÄñÌåÓý spin-out; Minister of State for Business, Employment and Retail, Neale Richmond TD, Professor Orla Feely, President, UCD and Dr Martin O’Reilly, CEO and co-founder, Output Sports.

СÄñÌåÓý’s knowledge transfer team, which is responsible for the commercialisation of the intellectual property emerging from СÄñÌåÓý’s world-class research programmes, is also based at NovaСÄñÌåÓý.

In the last twenty years, 70 new СÄñÌåÓý spin-out companies have been incorporated; 1,165+ inventions have been disclosed by СÄñÌåÓý researchers; 370+ priority patent applications have been filed and 320+ licensing deals have been concluded with a range of indigenous and international businesses. In addition, ConsultСÄñÌåÓý, СÄñÌåÓý’s managed consultancy service, also based at NovaСÄñÌåÓý, has undertaken 220+ consultancy projects since it was established in 2017.

Tom Flanagan, СÄñÌåÓý Director of Enterprise and Commercialisation said, “In 2003 СÄñÌåÓý created a world-class, purpose-built facility based around one of its historic Georgian buildings, now known as NovaСÄñÌåÓý. Twenty years on, NovaСÄñÌåÓý, an example of sustainability in action, is still creating and supporting great СÄñÌåÓý spin-out and spin-in companies, such as Aer Therapeutics, Go Eve, Equal1 and Manna, which have the potential to deliver significant societal and economic impact.”

Marina Donohoe, Divisional Manager, Research and Innovation, Enterprise Ireland, said, “We welcome the publication of this report today which clearly demonstrates NovaСÄñÌåÓý’s success and impact over the last 20 years. Enterprise Ireland has worked with and supported NovaСÄñÌåÓý since its inception and I would like to congratulate the Centre and its companies on this significant milestone anniversary. We have recently committed to the next phase of development under our KT Boost programme and look forward to a continued and growing focus on spin-out companies and High Potential Start-Ups.”

Manna Drone Delivery, a NovaСÄñÌåÓý graduate company now headquartered at NexusСÄñÌåÓý, is one of the companies with significant expansion plans over the coming 2 years. The company currently employing 100 people has already concluded over 100,000 drone deliveries in locations across Ireland and plans to launch in multiple new locations in Ireland and in other European countries, in 2024. 

Tom Flanagan added, “Looking to the future there will be many opportunities for NovaСÄñÌåÓý to build on its successes to date, in areas such as agrifood, space, cybersecurity, AI, edge computing, manufacturing, advanced diagnostics, novel therapeutics and sustainability, as we continue to make a real difference in the innovation landscape and ecosystem in Ireland and further afield.”

NovaСÄñÌåÓý is currently working with CeADAR, Ireland’s National Centre for Applied AI, to launch a new AI accelerator programme, with funding from the European Digital Innovation Hubs, and is developing a new 5G Edge accelerator programme in partnership with Dell, Ericsson and Vodafone.

President Feely concluded, “NovaСÄñÌåÓý was originally funded through a unique public-private partnership and I would like to take this opportunity of sincerely thanking AIB, AMD, Arthur Cox, Deloitte, Enterprise Ireland, Ericsson, and Goodbody for their unwavering support and guidance since 2003. In addition, we are very appreciative of the ongoing support provided to NovaСÄñÌåÓý by Enterprise Ireland especially through the Technology Transfer Strengthening Initiative and KT Boost programmes.”

The full report entitled, NovaСÄñÌåÓý Ideas to Impact Since 2003, is available to download via

/innovation/filebank/NovaСÄñÌåÓý_Ideas_to_Impact_Since_2003_Final.pdf

and

 

ENDS

18 October 2023

For further information contact Micéal Whelan, Communications and Media Relations Manager, NovaСÄñÌåÓý, СÄñÌåÓý Research and Innovation, e: miceal.whelan@ucd.ie.

Editors Notes

In addition to Manna other current and graduate companies of the NovaСÄñÌåÓý ecosystem include; Aer Therapeutics; BiancaMed (acquired by ResMed Inc); Biosimulytics; Conjura; Corlytics; CropBiome; DOCOsoft; EpiCapture; Equinome (acquired by Plusvital); Equal1; Go Eve; Life Scientific; Logentries (acquired by Rapid7); MagrowTec; Meili; OncoAssure; Output Sports; Oxymem (acquired by Du Pont); Plasma Bound; Proveye; SiriusXT; SuperNode; TestReach; xWave Technologies and Zipp Mobility (acquired by ZEUS Scooters).

NovaСÄñÌåÓý has been nurturing and supporting high-tech start-ups with global potential since 2003. During the last two decades NovaСÄñÌåÓý has developed an excellent and expanded infrastructure and a suite of comprehensive business support programmes, dedicated accelerators, and an ecosystem of mentors, investors and industry partners that help to nurture an enthusiastic and dynamic community of start-ups and established companies, to grow and scale on the global stage.

NovaСÄñÌåÓý’s reach and influence has also expanded since 2003 as the NovaСÄñÌåÓý team now also manages NexusСÄñÌåÓý, the University’s Industry Partnership Centre, ConsultСÄñÌåÓý, the University’s managed consultancy service, and the new AgTechСÄñÌåÓý Innovation Centre, which will officially open later this month, at СÄñÌåÓý Lyons Farm. NovaСÄñÌåÓý was originally funded through a unique public-private partnership that included AIB; AMD; Arthur Cox; Deloitte; Enterprise Ireland; Ericsson; Goodbody and СÄñÌåÓý.