NovaUCD, the tech transfer unit and incubator of the University College Dublin (UCD), has announced plans to contribute €87.7m ($121m) annually and create 1,200 new jobs in the local and international economy by 2016 through its commercialisation activities.

The plan comes after NovaUCD revealed it had directly and indirectly created over 1,300 jobs (1,056 of which were in Ireland) and currently contributes €47.7m annually to the local and international economy, €36.6m being in Ireland.

Since launching in 2003, NovaUCD has…

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