New start-ups and inventions on the rise at NovaUCD


12 Feb 2010

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Seven new spin-out companies were set up at NovaUCD, the Innovation and Technology Transfer Centre at University College Dublin (UCD), in 2009, bringing the total incorporated since 2005 to 13.

One of these new companies, Equinome, recently announced the launch of a breakthrough genetic test that can identify the optimum racing distance for individual thoroughbred horses which has the potential to transform decision-making processes in the global bloodstock industry.

During 2009 UCD researchers reported 85 new invention disclosures to NovaUCD, a 60pc increase on the 53 inventions reported in 2008. A total of 247 inventions have now been disclosed to NovaUCD during the last five-year period.

Forty-seven patent applications, up 25pc on the 2008 figure, including 25 priority, 17 PCT (patent co-operation treaty) and five national/regional applications were also filed by UCD during 2009.  A total of 88 priority patent applications have now been filed by UCD in the last five-year period. In addition, over 50 licence agreements were concluded by UCD in the same period with a range of indigenous and international companies.

Fifty high-tech and knowledge-intensive companies have occupied incubation space at NovaUCD and availed of NovaUCD’s related innovation services since 2004. 156 new ventures, 15 in 2009 alone, and 235 individuals have also now completed the NovaUCD Campus Company Development Programme (CCDP), which has run annually since 1996.

NovaUCD’s CCDP assists academic and research entrepreneurs in bringing their innovative ideas from intellectual concepts to fully-developed and sound commercial business enterprises.

“Looking to the future we should recognise that the conversion to licence deals, new companies and much-needed employment takes time and that one major issue is the need to ensure that early-stage campus companies have access to finance,” said Dr Pat Frain, director, NovaUCD.

Twenty-six innovative companies, including Alternative Energy Resources (AER), winner of 2009 Deloitte Technology Fast 50 ‘Rising Star’ Award, BiancaMed, one of the companies recently shortlisted for the Irish Times Innovation Award 2010 and RendezVu, overall winner of the 2009 David Manley Emerging Entrepreneur Award, are currently located at NovaUCD.

Photo: Dr Pat Frain, director, NovaUCD

Article courtesy of Bizstartup.ie