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University College Dublin Supported Companies Plan to Create 1,100 Jobs and Raise €290M Over the Next Two Years

DUBLIN : 18/10/2023 : Pictured (l-r) at NovaUCD are; Tom Flanagan, UCD Director of Enterprise and Commercialisation, Professor Orla Feely, President, UCD and Minister of State for Business, Employment and Retail, Neale Richmond TD. Picture Conor McCabe Photography

Ireland’s Minister of State for Business, Employment and Retail, Neale Richmond TD today officially launched a new report, entitled NovaUCD Ideas to Impact Since 2003.

The report highlights the economic and societal impact of NovaUCD and marks the 20th anniversary of the official opening of the hub of innovation and start-up activities at University College Dublin (UCD).

Since 2003, UCD has supported 550+ companies and early-stage ventures through the services and supports provided across the University by NovaUCD, and through business support programs run and managed by NovaUCD. In addition, the NovaUCD entrepreneurial community has raised €1.3+ billion in equity funding over the last 20 years.

NovaUCD is currently supporting 70+ startups and established companies to grow and scale on the national and global stage. Based on the results of a short survey these companies collectively plan to create over 1,100 jobs and raise over €290m in funding during the next 2 years.

UCD’s knowledge transfer team, which is responsible for the commercialisation of the intellectual property emerging from UCD’s world-class research programs, is also based at NovaUCD. 

In the last twenty years, 70 new UCD spin-out companies have been incorporated; 1,165+ inventions have been disclosed by UCD researchers; 370+ priority patent applications have been filed and 320+ licensing deals have been concluded with a range of indigenous and international businesses. In addition, ConsultUCD, UCD’s managed consultancy service, also based at NovaUCD, has undertaken 220+ consultancy projects since it was established in 2017.

NovaUCD is currently working with CeADAR, Ireland’s National Centre for Applied AI, to launch a new AI accelerator program, with funding from the European Digital Innovation Hubs, and is developing a new 5G Edge accelerator program in partnership with Dell, Ericsson and Vodafone.

Current and graduate companies of the NovaUCD ecosystem include Manna Drone Delivery; Aer Therapeutics; BiancaMed (acquired by ResMed Inc); Biosimulytics; Conjura; Corlytics; CropBiome; DOCOsoft; EpiCapture; Equinome (acquired by Plusvital); Equal1; Go Eve; Life Scientific; Logentries (acquired by Rapid7); MagrowTec; Meili; OncoAssure; Output Sports; Oxymem (acquired by Du Pont); Plasma Bound; Proveye; SiriusXT; SuperNode; TestReach; xWave Technologies and Zipp Mobility (acquired by ZEUS Scooters).