Construction BUSINESS

New €6.5 Million Development Project to Expand NovaUCD’s Capacity to House Start-ups

 Breaking News
  • €1 Billion Investment Plan For 4,500 New Homes in South Dublin South Dublin County Council have considered proposals that could deliver up to 4,500 new homes to the area. The total investment envisaged under the ambitious housing plan is in excess of €1 billion. The lands under discussion include: 2,600 new homes at the recently approved Clonburris SDZ scheme, 1,000 new homes at Kilcarbery in Clondalkin, 500 new homes in [...]...
  • M11 Gorey to Enniscorthy Motorway PPP Scheme Opens An Taoiseach Leo Varadkar has officially opened the M11 Gorey to Enniscorthy Motorway PPP Scheme. Funded, constructed and operated by the BAM ACS Consortium, it will reduce travel times from Dublin to Wexford by up to 30 minutes. At the opening Theo Cullinane, BAM Ireland CEO, said: “We are very pleased to be able to open [...]...
  • CRH Divests Europe Distribution Business CRH plc, the global building materials group, has agreed to divest of its Europe Distribution business to private equity funds managed by Blackstone for an Enterprise Value of €1.64 billion* payable in cash. The transaction is subject to regulatory approval. The business being sold comprises CRH’s entire General Builders Merchants business in Europe, including its Sanitary [...]...
  • Next-generation Wind Turbine Blade Pitch Technology Launched Mita-Teknik, a global provider of wind turbine control and pitch technology, has launched its new generation of blade pitch system for onshore and offshore wind turbines. The new Mita Pitch System has been designed to effectively minimize O&M costs, reduce downtime and improve productivity. The Mita Pitch System is a flexible pitch solution for turbines up to 12 MW, which boasts [...]...
  • Tulfarris Hotel and Golf Resort Completes €6 Million Renovation Programme International hospitality management company, PREM Group has completed the first stage of its renovation programme at Tulfarris Hotel and Golf Resort, Blessington, County Wicklow. The group purchased the 90-bedroom hotel in 2016 and since then has already spent over €6 million on the property to return the luxury 18th century Manor House and its surrounding grounds to [...]...

New €6.5 Million Development Project to Expand NovaUCD’s Capacity to House Start-ups

New €6.5 Million Development Project to Expand NovaUCD’s Capacity to House Start-ups
August 21
09:51 2018

NovaUCD, the University’s Centre for New Ventures and Entrepreneurs, is set 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.

NovaUCD which officially opened in October 2003 is currently home to over 25 start-up companies. These companies have either spun-out of UCD research programmes or have spun-in to locate at NovaUCD 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 UCD’s technology transfer team, NovaUCD 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 (pictured), UCD’s Director of Enterprise and Commercialisation, said: “The NovaUCD 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 NovaUCD to leverage our ecosystem of experienced mentors, founders, alumni, investors and sponsors who can help them grow their businesses globally. By joining the NovaUCD community these start-ups can also take advantage of access to our world-class researchers, facilities and talent across the UCD campus.”

“The development of the east courtyard will enable us to increase our capacity by over 50% and when completed NovaUCD will be able to accommodate up to 450 people.”

NovaUCD 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.

NovaUCD 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 800mof 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.

Some of the best known start-ups supported by NovaUCD include spin-out companies, ChangingWorlds, BiancaMed, Equinome and Logentries and spin-in companies, EnBIO and Genomics Medicine Ireland.

Among the companies currently located at NovaUCD 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 NovaUCD, with the balance of funds provided by Enterprise Ireland and UCD.

The architects for this current project are Kavanagh Tuite Architects, who were architects for the original design of the NovaUCD facility.

About Author

admin

admin

Related Articles

Constrcution Summit

PROMO – Construction Summit 2016 – Sustaining the Momentum

Lean Construction Ireland – Enhancing Ireland’s Competitive Advantage

The Magazine – Construction Business

The Magazine – Construction Summit 2016

The Magazine – Construction Summit

Upcoming Events

  • No upcoming events
AEC v1.0.4

New Subscriber

Subscribe Here



Advertisements