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NovaUCD Co's Set to Create 300 Jobs

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DateTuesday, February 07, 2012

NovaUCD Co's Set to Create 300 Jobs

Staffing at NovaUCD is Set to More Than Double as Incubator Tenants Create 300 Highly-Skilled People by 2013



TETHRAS_Brian_Farrell_120207.pngNovaUCD, the Innovation and Technology Transfer Centre at University College Dublin (UCD), is claiming that its 37 incubator companies are set to create 300 highly-skilled jobs over the next two years.



Professor Peter Clinch, Vice-President for Innovation at UCD, said the employment projection figures are based on the results of an annual employment survey of companies based at the centre, which have raised over €40 million in equity investment to date



Companies located at the centre include a mixture of "spin-out" companies, established by UCD researchers to commercialise the outputs of their research activities, and "spin-in" companies that have located to NovaUCD in order to interact more closely with UCD commercialisation activities and to avail of research expertise available at the University.



NovaUCD would not disclose the specifics of the announcement, but said examples of its tenants included DOCOsoft, a developer of software solutions for the global insurance and financial services markets, and Tethras, the company which enables app developers to easily adapt their software into over 40 languages, are both planning to employ at least 10 additional staff by 2013.



Currently there are 205 people employed by the Nova companies. They created 80 jobs during 2011.



Commenting today Professor Clinch said, "NovaUCD client companies were established to translate innovative ideas into value-added products and services, including companies which are commercialising UCD research outputs. The development and growth of such high-tech and knowledge-intensive companies is of critical importance for Ireland's economic recovery. He added, "I am delighted that the facilities and supports being made available to the start-ups located at UCD are helping these companies thrive and create quality jobs."




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