51ºÚÁÏ

Nova51ºÚÁÏ-Supported Companies Plan to Create 1,100 Jobs and Raise €290 million over the Next Two Years

- Minister Richmond TD launches Nova51ºÚÁÏ 20-Year Anniversary Report

- Over 550 companies and early-stage ventures supported since 2003

- Nova51ºÚÁÏ entrepreneurial community raised €1.3+ billion in equity funding

Minister of State for Business, Employment and Retail, Neale Richmond TD today officially launched a new report, entitled Nova51ºÚÁÏ Ideas to Impact Since 2003. The report highlights the economic and societal impact of Nova51ºÚÁÏ and marks the 20^th anniversary of the official opening of the hub of innovation and start-up activities at University College Dublin (51ºÚÁÏ).

Since 2003, 51ºÚÁÏ has supported 550+ companies and early-stage ventures through the services and supports provided across the University by Nova51ºÚÁÏ, and through business support programmes run and managed by Nova51ºÚÁÏ. In addition, the Nova51ºÚÁÏ entrepreneurial community has raised €1.3+ billion in equity funding over the last 20 years.

Nova51ºÚÁÏ is currently supporting 70+ start-ups 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 €290 million in funding during the next 2 years.

Minister Neale Richmond TD said, “Innovation opens the door to future growth, future prosperity and future jobs and I am delighted to be here to see first-hand the impact Nova51ºÚÁÏ has had on start-ups, both today and over the last 20 years.  Start-ups are the life blood of the Irish economy and the report clearly demonstrates 51ºÚÁÏ’s leadership role in supporting entrepreneurs and their contribution to economic and social development.

Over the past twenty years, Nova51ºÚÁÏ has supported over 550 companies, raising over €1.3 billion in funding and I look forward to seeing what the future holds. Government will continue to support Nova51ºÚÁÏ through a range of funding initiatives to ensure that the pipeline of disruptive and innovative companies continues to expand from this excellent facility.”

Professor Orla Feely, President, University College Dublin, said, “I would like to thank Minister Richmond for being with us today to mark the twentieth anniversary of the official opening of Nova51ºÚÁÏ and to formally launch the Ideas to Impact report.

51ºÚÁÏ is committed to playing a strategic role in Ireland’s innovation and knowledge exchange ecosystem as an enabler of economic growth and talent development. One way we support this commitment is through Nova51ºÚÁÏ which is focused on the commercialisation of our research outputs, creating new ventures, nurturing and scaling start-ups and established companies with global reach, and creating jobs.

I welcome this new report which outlines Nova51ºÚÁÏ’s achievements and impressive metrics and impact since 2003 and highlights the significant funding and job creation plans of the Nova51ºÚÁÏ entrepreneurial ecosystem over the next two years. It also includes stories of how the University through Nova51ºÚÁÏ’s activities strives to makes a difference to the lives of others in Ireland and in the wider world and contribute to areas of global concerns.”

Pictured (l-r) at Nova51ºÚÁÏ are; Dr Fiona McGillicuddy, 51ºÚÁÏ School of Medicine, project lead, MetHealth, an emerging 51ºÚÁÏ spin-out; Minister of State for Business, Employment and Retail, Neale Richmond TD, Professor Orla Feely, President, 51ºÚÁÏ and Dr Martin O’Reilly, CEO and co-founder, Output Sports.

51ºÚÁÏ’s knowledge transfer team, which is responsible for the commercialisation of the intellectual property emerging from 51ºÚÁÏ’s world-class research programmes, is also based at Nova51ºÚÁÏ.

In the last twenty years, 70 new 51ºÚÁÏ spin-out companies have been incorporated; 1,165+ inventions have been disclosed by 51ºÚÁÏ 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, Consult51ºÚÁÏ, 51ºÚÁÏ’s managed consultancy service, also based at Nova51ºÚÁÏ, has undertaken 220+ consultancy projects since it was established in 2017.

Tom Flanagan, 51ºÚÁÏ Director of Enterprise and Commercialisation said, “In 2003 51ºÚÁÏ created a world-class, purpose-built facility based around one of its historic Georgian buildings, now known as Nova51ºÚÁÏ. Twenty years on, Nova51ºÚÁÏ, an example of sustainability in action, is still creating and supporting great 51ºÚÁÏ spin-out and spin-in companies, such as Aer Therapeutics, Go Eve, Equal1 and Manna, which have the potential to deliver significant societal and economic impact.”

Marina Donohoe, Divisional Manager, Research and Innovation, Enterprise Ireland, said, “We welcome the publication of this report today which clearly demonstrates Nova51ºÚÁÏ’s success and impact over the last 20 years. Enterprise Ireland has worked with and supported Nova51ºÚÁÏ since its inception and I would like to congratulate the Centre and its companies on this significant milestone anniversary. We have recently committed to the next phase of development under our KT Boost programme and look forward to a continued and growing focus on spin-out companies and High Potential Start-Ups.”

Manna Drone Delivery, a Nova51ºÚÁÏ graduate company now headquartered at Nexus51ºÚÁÏ, is one of the companies with significant expansion plans over the coming 2 years. The company currently employing 100 people has already concluded over 100,000 drone deliveries in locations across Ireland and plans to launch in multiple new locations in Ireland and in other European countries, in 2024. 

Tom Flanagan added, “Looking to the future there will be many opportunities for Nova51ºÚÁÏ to build on its successes to date, in areas such as agrifood, space, cybersecurity, AI, edge computing, manufacturing, advanced diagnostics, novel therapeutics and sustainability, as we continue to make a real difference in the innovation landscape and ecosystem in Ireland and further afield.”

Nova51ºÚÁÏ is currently working with CeADAR, Ireland’s National Centre for Applied AI, to launch a new AI accelerator programme, with funding from the European Digital Innovation Hubs, and is developing a new 5G Edge accelerator programme in partnership with Dell, Ericsson and Vodafone.

President Feely concluded, “Nova51ºÚÁÏ was originally funded through a unique public-private partnership and I would like to take this opportunity of sincerely thanking AIB, AMD, Arthur Cox, Deloitte, Enterprise Ireland, Ericsson, and Goodbody for their unwavering support and guidance since 2003. In addition, we are very appreciative of the ongoing support provided to Nova51ºÚÁÏ by Enterprise Ireland especially through the Technology Transfer Strengthening Initiative and KT Boost programmes.”

The full report entitled, Nova51ºÚÁÏ Ideas to Impact Since 2003, is available to download via

/innovation/filebank/Nova51ºÚÁÏ_Ideas_to_Impact_Since_2003_Final.pdf

and

 

ENDS

18 October 2023

For further information contact Micéal Whelan, Communications and Media Relations Manager, Nova51ºÚÁÏ, 51ºÚÁÏ Research and Innovation, e: miceal.whelan@ucd.ie.

Editors Notes

In addition to Manna other current and graduate companies of the Nova51ºÚÁÏ ecosystem include; 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).

Nova51ºÚÁÏ has been nurturing and supporting high-tech start-ups with global potential since 2003. During the last two decades Nova51ºÚÁÏ has developed an excellent and expanded infrastructure and a suite of comprehensive business support programmes, dedicated accelerators, and an ecosystem of mentors, investors and industry partners that help to nurture an enthusiastic and dynamic community of start-ups and established companies, to grow and scale on the global stage.

Nova51ºÚÁÏ’s reach and influence has also expanded since 2003 as the Nova51ºÚÁÏ team now also manages Nexus51ºÚÁÏ, the University’s Industry Partnership Centre, Consult51ºÚÁÏ, the University’s managed consultancy service, and the new AgTech51ºÚÁÏ Innovation Centre, which will officially open later this month, at 51ºÚÁÏ Lyons Farm. Nova51ºÚÁÏ was originally funded through a unique public-private partnership that included AIB; AMD; Arthur Cox; Deloitte; Enterprise Ireland; Ericsson; Goodbody and 51ºÚÁÏ.