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Nova UCD supported companies have raised €760m

Written by Robert McHugh, on 25th Feb 2019. Posted in General

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University College Dublin (UCD) today announced the results of its latest survey of companies supported through NovaUCD, the University’s Centre for New Ventures and Entrepreneurs, since it opened 15 years ago. 

UCD has supported over 360 companies and early-stage ventures through the services and supports provided by NovaUCD. The combined annual turnover of the companies surveyed amounted to over €113 million in 2018 and collectively they currently employ over 1,040 people directly, more than 950 of whom are based in Ireland.

The supported companies which operate in sectors include AgTech, CleanTech, FinTech, ICT, MedTech and Life Sciences. The companies have raised over €760 million in equity funding.

At NovaUCD, new high-tech and knowledge-intensive start-up companies are nurtured and supported to enable them to develop, scale and create jobs.

Early-stage ventures have additionally completed programmes run by NovaUCD, such as the UCD VentureLaunch Accelerator Programme (and its predecessor the Campus Company Development Programme) and the UCD Start-Up Stars Programme.

Since 2003, 45 new UCD spin-out companies have been incorporated and over 825 inventions have been disclosed by UCD researchers. Additionally, over 280 priority patent applications have been filed and more than 200 licensing deals have been concluded with a range of indigenous and international businesses such as Amdocs, Amryt and Glanbia.

Speaking today, UCD Vice-President for Research, Innovation and Impact, Professor Orla Feely said, "University College Dublin is committed to playing a key role in Ireland’s innovation ecosystem as an enabler of economic growth and as a contributor to economic and social development. At UCD NovaUCD is responsible for the commercialisation of our research outputs, supporting start-ups and more established companies to scale globally and create jobs, and today’s results clearly demonstrate its success and impact over the last 15 years."

Source: www.businessworld.ie

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