NovaUCD Highlights An Invention A Week at UCD During 2008

PR Log (Press Release) – Jun 16, 2009 – NovaUCD, the Innovation and Technology Transfer Centre at University College Dublin today announced strong commercialisation results for 2008.

NovaUCD highlighted that UCD researchers are generating an invention a week as 53 invention disclosures were reported to NovaUCD during 2008. A total of 184 inventions have now been disclosed to NovaUCD during the 5-year period to end 2008.

Thirty-eight patent applications, including 25 priority, 6 PCT (patent co-operation treaty) and 7 national/regional applications were filed by UCD during 2008. These patents were filed for intellectual property arising from research taking place throughout the University’s Colleges, Schools and Institutes. A total of 122 patent applications, including 70 priority patents, were filed by UCD in the 5-years ending last year. In the last four years 38 licence agreements were concluded by UCD with a range of indigenous and international companies.

Announcing NovaUCD’s 2008 results, Dr Pat Frain, Director, NovaUCD said, “NovaUCD’s successes during 2008 and in the 5-years ending last year clearly demonstrate that the growth in public investment in R&D at UCD is yielding a significant return to the Irish economy and society. In recent years NovaUCD related start-ups have created well over 1000 high-quality job opportunities and the total investment and realisation in UCD spin-out companies, during the past decade, is now more than $200 million.” He added, “The support received from Enterprise Ireland through the Technology Transfer Strengthening Initiative is having a huge impact on the pipeline of inventions and innovative ideas coming through the NovaUCD system.”

Forty-five high-tech and knowledge-intensive companies, including 15 UCD spin-out companies, have occupied incubation space at NovaUCD and availed of NovaUCD’s related innovation services during 2004-2008. Over 140 new ventures, 11 in 2008 alone, and 210 individuals have now completed the NovaUCD Campus Company Development Programme which has run annually since 1996.

Dr Frain concluded, “Looking to the future it is important to recognise that the conversion to licence deals, new companies and much needed employment takes time. However the recently announced UCD/TCD Innovation Alliance will build on the considerable success of NovaUCD and its TCD counterpart in accelerating the innovation process and in maximising the impact of the State’s research investment in enterprise development and job creation.”

Twenty-five innovative companies, including Asimil8, BiancaMed, Celtic Catalysts, Enzolve Technologies and Q-Validus, occupying 36 incubation units, or nearly 90% of the available incubation space, are currently located at NovaUCD. These companies collectively employ over 170 individuals at NovaUCD.

NovaUCD is responsible for the implementation of UCD policies relating to the commercialisation of intellectual property arising from UCD’s research programmes. NovaUCD also provides entrepreneurs and knowledge-based start-up companies with a comprehensive business support programme along with incubation space and related facilities and services.