Innovation is a key element of University College Dublin’s (UCD) core mission and sits as an equal pillar of the University alongside education and research. UCD justly prides itself on being a world-class research-intensive University where excellence in education is combined with a commitment to research, creativity and innovation. In this regard one of UCD’s key innovation themes is growing and supporting new businesses at NovaUCD, the Centre for New Ventures and Entrepreneurs.
NovaUCD – Introduction
NovaUCD is situated in a prestigious location on UCD’s main campus in South County Dublin. Located in a renovated and extended mid-18th-century house, NovaUCD, a purpose-built, state-of-the-art incubation facility for high-tech and knowledge-intensive start-up companies, has been the hub for new ventures and entrepreneurs at UCD since 2003.
At NovaUCD a highly networked community of entrepreneurs provides an environment for the promoters of new ventures to share their experiences to assist other start-ups to develop and grow. This innovative and entrepreneurial community, along with the wider NovaUCD network of University researchers, business leaders and investors, creates an invaluable support for our client companies.
NovaUCD – Office Facilities
The premier facilities at NovaUCD, which cover 4,500 sq.m., are bright, airy and open with high-quality shared circulation spaces that encourage the informal and formal interactions necessary for the development of a community of entrepreneurs.
At NovaUCD a wide range of flexible occupancy options (desk space, business and bio- incubation units) are available to entrepreneurs to enable them to move as their businesses grow.
The office facilities consist of hot desk space, 45 office units (ranging from 12 sq.m. to 72 sq.m.) and 10 bio-incubation units (ranging from 17 sq.m. to 64 sq.m.).
The bio-incubation units are equipped with power and water supply, sinks and benching, as well as voice and data points. Shared facilities available include fridge freezers, de-ionised water, ice machines, fume hoods and dishwashers.
NovaUCD – Additional Facilities and Services
At NovaUCD, which has 24/7 access, additional facilities and services include; car parking, security, reception services, a permanent boardroom, seminar and meeting rooms, a dedicated video conferencing room, wireless network, a dedicated server room and a centrally located café.
NovaUCD – Support Programme
At NovaUCD a comprehensive business support programme is also offered to our client companies comprising advice, clinics, seminars and workshops.
A series of workshops and seminars are provided to clients on average three times per month on topics based upon client requirments. The workshops cover issues which affect knowledge intensive start-up companies such as: raising investment, business development and sales, leadership and performance, finance and tax, product positioning and intellectual property. The workshops generate group discussion and interaction around key issues issues and assist clients to establish new networks as part of the community ofentrepreneurs at NovaUCD.
In addition a specialist investment series takes place regularly at NovaUCD whichbrings in investors to discuss their funds and provides the opportunity for clients tointeract with investors informally through a one-to-one meeting.
NovaUCD – Facilitated Access
At NovaUCD we provide our client companies with facilitated access to UCD’s world-class researchers, state-of-the-art University laboratories, equipment, specialised personnel, and graduates and to NovaUCD’s extensive network of business leadersand investors.
NovaUCD – Client Companies
Over 30 new ventures are currently based at NovaUCD including spin-out companies that are commercialising research undertaken at UCD and spin-in companies that have located at NovaUCD in order to interact more closely, ideally in R&D activities, with the University.
These companies currently employ over 225 people, from over 20 countries with over 2,300 combined years of experience.
NovaUCD – Impact
Since 2003, NovaUCD has provided business development support to 242 companies and early-stage projects through the incubation services and support programmes provided at NovaUCD. In the last 10 years 126 companies have been direct clients of NovaUCD and availed of hot space, office or bio-incubation unit facilities.
These supported companies, which currently employ 599 staff, of whom 489 are in Ireland, have raised €91 million in equity funding to date, and have a current annual turnover of €71.2 million. Furthermore, these same companies expect to create 851 new jobs by 2016, with 630 of them in Ireland.
NovaUCD-supported companies currently contribute €34.5 million a year in Gross Value Added (GVA) to the Irish economy and a further €7.7 million GVA to the international economy. Between them these companies currently support 1,252 jobs (directly and indirectly), of which 1,022 are based in Ireland and 230 internationally.
Furthermore it is estimated that, by 2016, existing supported companies will be generating €64 million GVA for the Irish economy each year and directly and indirectly supporting 1,900 jobs in Ireland, as well as contributing €18.2 million GVA and supporting 538 jobs in the international economy each year.
NexusUCD – Industry Partnership Centre
Complementing NovaUCD, UCD has opened NexusUCD, the Industry Partnership Centre. At NexusUCD, high-quality modern office space, with short, medium or long term occupancy arrangements and associated services are available to established innovation-led companies who are collaborating, or wish to collaborate, with UCD’s world-class research base. At NexusUCD, which covers 5,250 sq.m., over 100 offices, with flexible configurations and ranging in size from 11 sq.m. to 80 sq.m., are available to client companies.
NovaUCD – Find out More
To find out more about how you can join our community of entrepreneurs please watch our video entitled Locate your Business at NovaUCD via
To find out more about the economic impact of NovaUCD since 2003 read our report entitled NovaUCD – Celebrating 10 Years of Entrepreneurial Success (2003-2013) via www.ucd.ie/innovation/entrepreneurs/novaucd10/publication/ and watch an associated short video via www.youtube.com/watch?v=dmuWm80MkiU
“NovaUCD, is a key component of Ireland’s innovation ecosystem, and is the hub of new ventures and entrepreneurs at University College Dublin.”
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