NovaUCD to house 50% more start-ups after facility upgrade
NovaUCD, UCD’s centre for new ventures and entrepreneurs, is to expand its capacity to house early-stage start-ups by over 50% with a €6.5 million development project.
The project to renovate and extend the facility’s east courtyard is expected to be completed within 12 months.
NovaUCD, based on UCD’s Belfield campus, officially opened in October 2003 and is home to over 25 start-up companies. These companies have either spun-out of UCD research programmes or have spun-in to locate at NovaUCD in order to collaborate with the University.
Since opening the hub has supported some 225 companies, which have raised over €200 million in equity funding, to develop and grow. As the home of UCD’s technology transfer team, NovaUCD has also registered some 750 invention disclosures, filed over 250 priority patent applications and licenced over 170 technologies to companies such as Amdocs, Amryt and Glanbia.
Tom Flanagan, UCD director of enterprise & commercialisation (pictured), said: “The NovaUCD facility has been running at full capacity for several years now. There is an ongoing and significant demand from ambitious entrepreneurs who want to locate their start-ups at NovaUCD to leverage our ecosystem of experienced mentors, founders, alumni, investors and sponsors who can help them grow their businesses globally.
“By joining the NovaUCD community these start-ups can also take advantage of access to our world-class researchers, facilities and talent across the UCD campus.
“The development of the east courtyard will enable us to increase our capacity by over 50% and when completed NovaUCD will be able to accommodate up to 450 people.”
Some of the best known start-ups supported by NovaUCD include spin-out companies, ChangingWorlds, BiancaMed, Equinome and Logentries and spin-in companies, EnBIO and Genomics Medicine Ireland.
Among the companies currently located at NovaUCD are Carrick Therapeutics, OncoMark and THEYA Healthcare.