NovaUCD has helped spawn 45 spinouts since 2003 and offered innovation support to companies which generated more than $128m of combined turnover during 2018.
Companies supported through University College Dublin (UCD)’s innovation and tech transfer hub, NovaUCD, have together collected more than €760m ($864m) in equity funding since the initiative started in 2003.
NovaUCD provides a range of innovation facilities and programs from the university’s Research and Innovation department, including tech transfer support, startup accelerators and access to investment opportunities.
A total of 45 UCD spinouts have been established through its tech transfer office since 2003, with more than 280 priority patent applications filed and 200 licensing deals agreed.
Businesses taking part in NovaUCD have came from segments such as agtech, cleantech, fintech, ICT, medtech and life sciences.
NovaUCD affiliates generated a combined turnover of more than $128m in 2018. They currently employ more than 1,040 people, 950 of which are based in Ireland.
Recipients of NovaUCD support have included local cancer-focused biotech company Carrick Therapeutics, which took in $95m of funding in 2016 from investors including GV, an investment subsidiary of diversified technology conglomerate Alphabet.
Among others, NovaUCD has also played a role in supporting UCD-founded peptide discovery spinout Nuritas, crop protection product spinout Life Scientific and power grid management platform NovoGrid.
NovaUCD’s initial development was sponsored by six private-sector companies – banking group Allied Ireland Bank, law firm Arthur Cox, consulting firm Deloitte, communications technology supplier Ericsson, programmable semiconductor maker Xilinx and stockbroking firm Goodbody Stockbrokers.
The tech transfer component of NovaUCD later began receiving assistance from enterprise support agency Enterprise Ireland’s Technology Transfer Strengthening Initiative in 2007.
