Did you know that NovaUCD is more than just a building? It is a hub of innovation at University College Dublin.
NovaUCD is a place where new ventures and entrepreneurs find their footing. It is a purpose-built facility. This state-of-the-art space fosters knowledge-intensive companies. NovaUCD provides comprehensive business support. Advice seminars and workshops are available. They also facilitate access to a network of researchers. Business leaders and investors are part of this network.
The community at NovaUCD is highly networked. Entrepreneurs share experiences. They assist other start-ups in their development. This creates an invaluable support system for client companies. NovaUCD contains over 55 offices. There are also bioincubation units for entrepreneurs. Campus companies and knowledge-based ventures thrive here. NovaUCD also offers desk spaces for individuals. These spaces are for those at the early stage of company development.
In August 2018, University College Dublin announced an expansion. NovaUCD’s capacity would increase to house early-stage start-ups. This was a 6.5 million Euro development project. The project renovated and extended the facility’s east courtyard. It was expected to be completed within 12 months.
NovaUCD officially opened in October 2003. It is home to over 25 start-up companies. These companies have spun out of UCD research programs. Others have spun in to collaborate with the university. Since opening, NovaUCD has supported some 225 companies. These companies have raised over 200 million Euro in equity funding.
NovaUCD also houses UCD’s technology transfer team. They have registered some 750 invention disclosures. Over 250 priority patent applications were filed. More than 170 technologies were licensed to companies. These include Amdocs Amryt and Glanbia.
Tom Flanagan is UCD’s Director of Enterprise and Commercialisation. He noted the high demand for space at NovaUCD. Ambitious entrepreneurs want to locate their start-ups here. They leverage an ecosystem of experienced mentors. Founders alumni investors and sponsors are all part of this ecosystem. They can help start-ups grow their businesses globally. These start-ups can access world-class researchers. They can also use facilities and talent across the UCD campus.
The development of the east courtyard increased capacity by over 50%. NovaUCD can now accommodate up to 450 people. NovaUCD is located in a mid-18th century house. It was formerly known as Merville House. It includes a restored main building. There is also a restoration and extension of the west courtyard. The expansion included renovation and extension of the east courtyard.
NovaUCD has 1425 square meters of licensable space. It houses 40 units labs and co-working space. The newly developed courtyard added 800 square meters of licensable space. This includes 23 business units labs and co-working space. The internal courtyard area is designed as a meeting and social space. It serves client companies.
Some well-known start-ups were supported by NovaUCD. These include ChangingWorlds BiancaMed Equinome and Logentries. EnBIO and Genomics Medicine Ireland are spin-in companies also supported here. Among the companies currently at NovaUCD are Carrick Therapeutics OncoMark and THEYA Healthcare.
Six private sector sponsors contributed to NovaUCD’s development. AIB Arthur Cox Deloitte Ericsson Goodbody Stockbrokers and Xilinx contributed 75% of the funds. Enterprise Ireland and UCD provided the balance. Kavanagh Tuite Architects designed the original NovaUCD facility. They also served as architects for the current project.
So, as you stand here at NovaUCD, remember that you are at a place where innovation and entrepreneurship are thriving. This is a place where ideas take flight.