Seventy new jobs are to be created over the next six months in companies supported by the National Digital Research Centre (NDRC). The claim was made by Minister for Jobs, Enterprise and Innovation Richard Bruton at the launch of NDRC’s annual report, which showed a doubling in the cumulative level of commercial follow-on investment into high potential digital technology companies promoted and supported by the Centre.
Speaking at the report’s launch, Minister Bruton (pictured) said: "A central part of the Government’s plan for jobs and growth is creating a powerful engine of indigenous enterprise, and we are particularly targeting high growth sectors such as digital technology for support."
NDRC CEO Ben Hurley said: "These results show that NDRC continues to punch above its weight in attracting investment and creating employment. We are tapping promising science-inspired opportunities and creating companies worthy of commercial investment. We are recognised as the ‘go to’ partner for stimulating innovation. Our results are clear evidence of NDRC’s contribution to the competitiveness of the Irish economy and our ability to create jobs… The number of jobs created in the ventures that have emerged from NDRC has grown to over 200.
"NDRC operates a fund of €25 million that is modest in overall terms, and yet delivers solid financial efficiency and striking value for money. We ensure that maximum capital is invested into generating value. Well over 80% of capital is invested directly into innovation activities, with less than 20% going on overheads and administration. The fact that ventures emerging from NDRC have been valued at nearly €30 million by third party investors is a clear indication that our investment to date of about €15 million is showing great value creation for our collaborators and excellent impact returns for the economy."
NDRC’s programmes encourage innovation and digital technology start-ups targeting sectors including data analytics, mobile, education, enterprise, media and communications, content technology, and consumer services.
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