UCD spin-out companies to employ 50 people

By Suzanne Cooper

Five new UCD spin out companies aim to employ more than 50 people between them by the end of 2013. They are among 19 spin-out companies that completed the Nova UCD Campus Company Development Programme in the past five years.

NovaUCD, the Innovation and Technology Transfer Centre at UCD,  helps researchers turn their ideas, services or products into licensing opportunities, or spin-out companies.

The spin-out companies are established by UCD researchers to advertise the outputs of their research and are the result of the commercialisation of research at the college in 2011.

This programme has been completed by 187 new ventures and 289 individuals since it began in 1996.

The new spin-out companies are involved in the following fields: energy management (Belfield Technologies and Wattics); ultra-violet light sources and optics for the semi-conductor industry (New Lambda Technologies); pharmaceutical processing technologies (APC); specialist construction risk assessment and management (BRAM);  social web-search solutions (HeyStaks); localisation services for app developers (Tethras); equine genetics (Equinome) and e-learning (RendezVu).

NovaUCD is now home to 36 innovative companies which employ a combined total of over 200 staff.

Vice-President for Innovation at UCD Professor Peter Clinch said on the subject: “Developing a sustainable smart economy in Ireland needs a strong flow of innovative ideas and high-tech start-up companies. 2011 was an excellent year for the establishment of new high-tech start-ups at the university. These start-ups will grow and develop in the coming years which will generate highly-skilled job opportunities.”

2011 was a great year for Nova UCD as its researchers produced 44 new inventions and made 36 patent applications, including 18 priority, 8 PCT (patent co-operation treaty) and 10 national/regional applications.

UCD also concluded 17 licence agreements last year with a range of indigenous and international companies.

Clinch added, “I am delighted that the facilities and supports being made available to the start-ups located at UCD are helping these companies thrive and create quality jobs.”