NovaUCD, the Innovation and Technology Transfer Centre at University College Dublin has reported a 35% increase in UCD invention disclosures in its 2007 Annual Report launched today.

The report highlights that UCD researchers submitted 50 invention disclosures during 2007 an increase of 35% compared to 2006 and a 120% increase on the number reported two years ago.

Launching the NovaUCD 2007 Report, Dr Pat Frain, Director, said, “The continuing growth in commercial activity at UCD, with increasing numbers of invention disclosures, is indicative of the growing commitment of UCD and its researchers to the commercialisation of UCD research-generated intellectual property for the benefit of the Irish economy and society.”

Dr Pat Frain, Director, NovaUCD

In 2007, 26 patent applications including 9 priority patent applications, 9 PCT (patent co-operation treaty) applications and 8 national/regional patent applications were filed by UCD for intellectual property arising from research in life science, engineering and information and communication technology.

Eight licence agreements were also concluded with a range of indigenous and international companies and 4 new innovative spin-out companies were incorporated. A total of 130 companies and 190 individuals have now completed NovaUCD’s Campus Company Development Programme which has run annually since 1996 and former participants now collectively employ over 675 people.

Dr Frain added, “Given the significant expansion of NovaUCD’s technology transfer team during the year with the support of Enterprise Ireland, this growth in commercial activity at UCD is likely to be accelerated in the years ahead.”

NovaUCD is responsible for the implementation of UCD policies relating to the commercialisation of intellectual property arising from UCD’s research programmes. NovaUCD also provides entrepreneurs and knowledge-based start-up companies with incubation facilities and a comprehensive business support programme. NovaUCD is also the main point of contact for companies seeking partners for collaborative research and advice on licensing and other commercial opportunities.

Twenty-three innovative new ventures, occupying 37 incubation units, or nearly 90% of the available incubation space, are currently located in NovaUCD. Nine companies have already graduated from NovaUCD and moved on to new premises. It is an important element of NovaUCD’s strategy to continuously refresh its community of entrepreneurs and to have the capacity at all times to take on new projects. Click here to access the full NovaUCD 2007 Report.

ENDS

1 May 2008

For further information contact Micéal Whelan, NovaUCD, e-mail: miceal.whelan@ucd.ie, tel: (01) 716 3712.

Editors Notes

NovaUCD is University College Dublin’s €11 million Innovation and Technology Transfer Centre. NovaUCD is responsible for the commercialisation of intellectual property arising from UCD research and for the development of co-operation with industry and business. NovaUCD as a purpose-built centre also nurtures new technology and knowledge-intensive enterprises. NovaUCD has over 40 incubation units, including bio-incubation units, and provides innovators and entrepreneurs with the necessary support and knowledge to take their ideas from proof of principle to commercial success. Twenty-three knowledge-intensive companies are currently located in NovaUCD. 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.