NDRC forecasts €35m in export sales over the next five years

5 Oct 2011

NDRC chief executive Ben Hurley with Communications Minister Pat Rabbitte, TD, at today's launch of the NDRC's annual report

The National Digital Research Centre has secured €4.4m in third-party commercial investment in technologies developed under its roof – a ten-fold increase year-on-year – and projects €35m in export sales over the next five years.

The investments represent a cumulative investment figure of €4.8m to date.

The NDRC portfolio included more than a dozen emerging enterprises with a combined market capital value of €25m. Thirty-six sustainable jobs are being created from these new ventures; all situated in the economy’s high-growth sectors.

NDRC model is proven

Ben Hurley, CEO, NDRC, said that in 2007, the NDRC introduced an original business model of collaborative innovation, bridging the gap between research and commercial enterprise.

“The results presented in our annual report show that this model works. We are now attracting commercial, return-seeking investment from the private sector, both at home and abroad, while creating employment of the type which will retain Ireland’s graduates and provide careers in high-growth sectors.

“We have detailed our growth projections through to 2016, forecasting €35m in export sales over the next five years; we look forward to realising these goals.”

Launching NDRC’s Annual Report, the Minster for Communications, Energy and Natural Resources Pat Rabbitte, TD, said: “The Irish Government is committed to investment in innovation as a key contributor to the sustainable development of our economy.

“I commend NDRC on its strong results this year and its success in delivering innovations that attract follow-on investment into the companies that emerge from NDRC collaborations. NDRC is creating market capital through market-inspired, research-driven innovation,” Rabbitte said.

John Kennedy is a journalist who served as editor of Silicon Republic for 17 years