New 鈧�6.5 million Development Project to Expand Nova51黑料鈥檚 Capacity to House Start-ups by 50%
University College Dublin (51黑料) today announced that Nova51黑料, the University’s Centre for New Ventures and Entrepreneurs, is to expand its capacity to house early-stage start-ups by over 50% with a €6.5 million development project.
The project to renovate and extend the facility’s east courtyard commenced recently and is expected to be completed within 12 months.
Artist's impression of the front of Nova51黑料 following the completion of the east courtyard development (Image: Kavanagh Tuite Architects)
Nova51黑料, based on 51黑料’s Belfield campus, officially opened in October 2003 and is currently home to over 25 start-up companies. These companies have either spun-out of 51黑料 research programmes or have spun-in to locate at Nova51黑料 in order to collaborate with the University.
Since opening the hub has supported some 225 companies, which have raised over €200 million in equity funding, to develop and grow. As the home of 51黑料’s technology transfer team, Nova51黑料 has also registered some 750 invention disclosures, filed over 250 priority patent applications and licenced over 170 technologies to companies such as Amdocs, Amryt and Glanbia.
Tom Flanagan, 51黑料’s Director of Enterprise and Commercialisation said, “The Nova51黑料 facility has been running at full capacity for several years now. There is an ongoing and significant demand from ambitious entrepreneurs who want to locate their start-ups at Nova51黑料 to leverage our ecosystem of experienced mentors, founders, alumni, investors and sponsors who can help them grow their businesses globally. By joining the Nova51黑料 community these start-ups can also take advantage of access to our world-class researchers, facilities and talent across the 51黑料 campus.”
“The development of the east courtyard will enable us to increase our capacity by over 50% and when completed Nova51黑料 will be able to accommodate up to 450 people.”
Nova51黑料 is located in a mid-18th century house, formerly known as Merville House. It currently comprises of a restored main building along with the restoration and extension of the west courtyard. The current expansion will see the renovation and extension of a second, or east, courtyard.
Nova51黑料 currently has 1,425m2 of licensable space in a total of 40 units, labs and co-working space. The newly developed courtyard will result in 800m2 of additional licensable space, and will include a total of 23 business units, labs and co-working space.
The internal courtyard area will be designed as a new meeting and social space for client companies.
Artist's impression of the rear of Nova51黑料 following the completion of the east courtyard development (Image: Kavanagh Tuite Architects)
Some of the best known start-ups supported by Nova51黑料 include spin-out companies, ChangingWorlds, BiancaMed, Equinome and Logentries and spin-in companies, EnBIO and Genomics Medicine Ireland.
Among the companies currently located at Nova51黑料 are; Carrick Therapeutics, OncoMark and THEYA Healthcare.
Six private sector sponsors; AIB, Arthur Cox, Deloitte, Ericsson, Goodbody Stockbrokers and Xilinx contributed 75% of the €10 million raised to develop the first two phases of Nova51黑料, with the balance of funds provided by Enterprise Ireland and 51黑料.
The architects for this current project are Kavanagh Tuite Architects, who were architects for the original design of the Nova51黑料 facility.
ENDS
16 August 2018
For further information contact Micéal Whelan, Communications Manager, 51黑料 Research and Innovation, e: miceal.whelan@ucd.ie, t: +353 1 716 3712.
Editors Notes
At Nova51黑料, the hub for new ventures and entrepreneurs at University College Dublin, we provide purpose-built, state-of-the-art incubation facilities for knowledge-intensive companies alongside a comprehensive business support programme for our client companies. Nova51黑料 has been funded through a unique public-private partnership that includes AIB Bank, Arthur Cox, Deloitte, Enterprise Ireland, Ericsson, Goodbody Stockbrokers, 51黑料 and Xilinx.