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New Cork Incubation Centre Opens

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DateFriday, January 14, 2011

New Cork Incubation Centre Opens 

gatwayUCC to Support the Launch of Knowledge-Intensive Technology Start-Ups from UCC and Other Research Centres



gatewayUCC.jpggatewayUCC, a €2 million business incubation centre, has opened today with the aim of commercialising advanced research undertaken at UCC.



Managed by UCC's Office of Technology Transfer, the highly modern facility located centrally among UCC's research and academic community (including the Tyndall National Institute) has the capacity to support the launch of 15 new and knowledge intensive start-ups at any one time. The centre has been developed with funding from UCC and Enterprise Ireland and it is hoped the centre will lead to the creation of 90 new jobs.



The centre forms a key element of the University's strategic development plan to translate world class research into new companies, create export driven jobs and generate an economic return for Ireland. As well as UCC spin-out companies, gatewayUCC will facilitate the growth of ‘spin-ins' from other research centres and will promote academic partnerships with industry.



Opening the centre this morning, Mr Batt O'Keeffe T.D, Minister for Enterprise, Trade and Innovation, said the gatewayUCC business incubation centre would be a strong platform for innovative start-up firms to produce new products and services and create high-quality jobs. "The centre aligns well with Government policy to translate world-class research into new firms, create high-quality export-driven jobs and generate a sustainable economic dividend for the country."



UCC President, Dr. Michael Murphy said: "As one of the pillars of our strategic development plan, gatewayUCC is uniquely placed to harness the world class research and multidisciplinary capabilities of UCC. gatewayUCC will be a dynamic catalyst for innovation and entrepreneurship and a hub for knowledge intensive activities in UCC's key research areas of ICT, Food, Life Sciences and Pharma. It will create competitive advantages for its client companies as they come to market.

The demonstration of tangible outputs for the major investments that are made in research is very important. We are achieving this in the formation of companies which will go on collectively to create hundreds of jobs and this will make a significant contribution to Ireland's economic competitiveness in the future."

gatewayUCC is dedicating its incubation resources to launching companies that are based on UCC proprietary technology or to companies that will specifically benefit from close proximity to UCC's multidisciplinary research base. The centre and its plan of activities and events are designed to promote the exchange of ideas through formal and informal networking. This is a proven way of accelerating the development and growth of knowledge intensive enterprise. We envisage the launch of several spin-outs this year, following seven such launches in the last two years," said Dr. Murphy.



Marking the effectiveness of UCC's technology transfer strategy, the launch of a new spin-out firm, 3PRO EnergyWatch, emerging from research at UCC's Business Information Systems department. was also announced. 3PRO EnergyWatch has developed a green IT software solution that automates the shutdown and hibernation of a company's computer systems resulting in significant cost savings and a lower carbon footprint. The company has just agreed a 1,500 user licensing deal with Cork County Council and has a number of other sales prospects currently in sight. It currently employs seven and plans to increase this to 20 as it grows its business.



3PRO EnergyWatch Chief Executive, Sean Cronin said, "We have benefited strongly from the commercial and business development expertise available through gatewayUCC which has already enabled us to win new business and plan further growth. We selected the gatewayUCC Centre for its state of the art facilities, links to the latest research from UCC and the ease of getting our company operational with minimum delay. As an export focused company, having UCC as a knowledge partner greatly enhances our credibility internationally. It will accelerate our growth and keep us at the forefront of energy saving technologies."



Thinksmart Technologies, which featured in October 2010 (more) is also located at gatewayUCC.


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