NovaUCD Awarded €132,000 Grant Under Enterprise Ireland’s Enterprise Centres Fund
An Tánaiste and Minister for Enterprise, Trade and Employment, Leo Varadkar TD, today announced that NovaUCD, the Centre for New Ventures and Entrepreneurs at University College Dublin (UCD), through UCD Nova DAC, has been awarded a grant of €132k under Enterprise Ireland’s Enterprise Centres Fund.
NovaUCD is one of 95 Enterprise Centres from around the country which have been awarded a total of €8.24 million in grants through this fund.
Enterprise Centres, such as NovaUCD, are embedded in communities in every county in the country. They provide space and training for entrepreneurs, allowing them to work remotely, access training and advice, and network with other business leaders.
This funding will be crucial as the Centres continue to offer services to local businesses during what is an exceptionally difficult time. It will help the Centres implement a recovery plan for businesses within their remit over the next six to twelve months.
Tánaiste Leo Varadkar TD said, “I am really pleased to make this funding available through my Department. It will help enterprise centres all over the country to modernise their facilities protecting the health and safety of people who work there and helping to secure much needed jobs.”
Tom Flanagan, Director of Enterprise and Commercialisation, NovaUCD, said, “I am delighted that NovaUCD has been successful in receiving this grant funding from Enterprise Ireland to help us to support our fantastic entrepreneurial community at this difficult time.”
He added, “The companies we support through NovaUCD have all shown great flexibility and pivoted as needed to advance their businesses during the COVID-19 pandemic and I would like to commend them all for the fantastic resilience which they have demonstrated.”
He concluded, “We will be using this funding for a number of projects, including the development and roll-out a new Leader’s Challenge Programme for our founders, the development of a socially distanced events space and to enhance our outdoor spaces to facilitate more locations for collaborative meetings while maintaining social distance.”
The Enterprise Centres Fund, which was launched in August, was open to both not-for-profit and for-profit enterprise centres which have seen their income significantly impacted as a result of the Covid-19 pandemic. The 95 enterprise centres will receive grants ranging from €10k to €150k.
Julie Sinnamon, CEO, Enterprise Ireland, said, “Over the past 20 years, Enterprise Centres have provided important infrastructure for entrepreneurs and are an essential part of the start-up ecosystem across Ireland. The Centres, many of which are regionally based, provide space, connectivity, mentoring and support to start-up founders and teams, helping them to scale internationally.”
She added, “The funding announced today through Enterprise Ireland will ensure that the Enterprise Centres, many of whom have been negatively impacted by Covid-19, can sustain their businesses, pivot and further develop their services to support the next wave of Irish start-up companies.”
ENDS
20 November 2020
For more information contact Micéal Whelan, University College Dublin, Communications Manager, UCD Research and Innovation, NovaUCD, t: + 353 1 716 3712, e: miceal.whelan@ucd.ie.
Editors Notes
Powering the Regions – Enterprise Centre Fund
Eligible enterprise centres could apply for funding of a minimum of €10,000 and up to a maximum of €150,000. Funding will be administered in the form of grant aid of up to 80 per cent of eligible costs detailed in the Recovery Plan submitted by each applicant. https://www.enterprise-ireland.com/en/funding-supports/Powering-the-Regions-Enterprise-Centre-Scheme/
At NovaUCD, the hub for new ventures and entrepreneurs at University College Dublin, we nurture and support new high-tech companies as part of UCD's mission. At NovaUCD we provide purpose-built, state-of-the-art incubation facilities alongside a comprehensive business support programme for client companies. NovaUCD has been funded through a unique public-private partnership that includes AIB Bank, Arthur Cox, Deloitte, Enterprise Ireland, Ericsson, Goodbody Stockbrokers, UCD and Xilinx. www.novaucd.ie