NovaUCD 2008 Report
ForewordDuring the year NovaUCD, the Innovation and Technology Transfer Centre at UCD celebrated its 5th anniversary since officially opening. While it is recognised that there is a long lead-time involved in commercialising the results of university research, the significant achievements in the last five years justify the faith of the initial sponsors who invested over €11 million in NovaUCD.
During the period 2004-2008, 7 new UCD spin-out companies have been incorporated. Forty-five high-tech and knowledge-intensive companies including 15 UCD spin-out companies have located at NovaUCD. A further 30 promoters of new ventures have occupied desk space.
NovaUCD’s pipeline is also strong, with 184 inventions being disclosed by UCD researchers in this 5-year period. In addition, over 120 patent applications have been filed and 38 licence agreements have been signed with a range of indigenous and international companies.
A key success story for NovaUCD in 2008 was the acquisition of the UCD spin-out company ChangingWorlds by the US-quoted technology company Amdocs for $60 million plus a deferred consideration. This brings the total investments and realisations in UCD spin-out companies to more than $200 million over the past decade. The sale of ChangingWorlds was a huge achievement in the current economic climate and is an inspiration for the increasing number of academic entrepreneurs who are planning to commercialise the output of their research programmes.
In 2008 NovaUCD continued to develop its team of experts, its comprehensive programmes and its state-of-the-art facilities to support innovators and entrepreneurs in commercialising the output of their research and other knowledge-intensive activities of the University.
Key achievements during the last year include:
- UCD spin-out company ChangingWorlds acquired for $60 million
- €1.45 million generated from commercialisation of research
- Fifty-three invention disclosures reported
- Thirty-eight patent applications filed across all areas of life sciences, engineering and information communication technology including
- Twenty-five priority patent applications
- Six PCT (Patent Co-operation Treaty) applications
- Seven national/regional patent applications - Thirteen licence agreements concluded with a range of indigenous and international companies
- One new UCD spin-out company incorporated
- Eleven new ventures completed the NovaUCD 2008 Campus Company Development Programme
- UCD’s most successful licence to date, a BSE (Bovine Spongiform Encephalopathy) test, has now earned over €2 million in royalty income for UCD
- Several NovaUCD companies, including Duolog Technologies, Celtic Catalysts, Lightwave Technologies and Visor attracted investment
- The NovaUCD 2008 Innovation Award presented to Celtic Catalysts
- Twenty-five knowledge-intensive ventures occupying 90% of the incubation space located at NovaUCD at year end
- Over 200 staff members of these companies regularly use NovaUCD’s facilities
- Thirteen companies have now graduated from NovaUCD to make way for new clients as part of NovaUCD’s strategy of continuously refreshing our community of entrepreneurs.
During 2008 NovaUCD continued its various initiatives to support researchers and entrepreneurs.
- NovaUCD arranged and hosted over 125 events to increase awareness of intellectual property and other commercial issues and to promote a culture of entrepreneurship and innovation among researchers, students and staff
- Accredited PhD modules in innovation and knowledge transfer were delivered as part of UCD’s Graduate Studies’ Structured PhD Programme
- Increasing levels of support were provided by NovaUCD and its network for innovators and entrepreneurs in bringing their ideas from the research laboratory through proof-of-principle and prototype development to successful commercialisation.
NovaUCD was also involved in a number of international organisations including AURIL, Institute of Knowledge Transfer and ProTon Europe. The aim is to enhance the contribution of universities to innovation by increasing the efficiency of knowledge transfer and university/industry collaboration and enhancing the status and recognition of the knowledge transfer profession.
Summary Key 2008 Metrics
- ChangingWorlds acquired for $60 million
- €1.45 million generated from commercialisation of research
- 25 companies located at NovaUCD1 new UCD spin-out incorporated
- 53 invention disclosures
- 25 priority patent applications
- 6 PCT patent applications
- 7 national/regional patent applications
- 13 licence agreements
- 11 new ventures completed NovaUCD’s 2008 CCDP
First Five Year Metrics (2004-2008)
- ChangingWorlds acquired for $60 million
- €2.7 million generated from commercialisation of research
- 45 start-ups availed of NovaUCD’s incubation facilities
- 15 UCD spin-outs located at NovaUCD
- 7 new UCD spin-outs incorporated
- 184 invention disclosures
- 70 priority patent applications
- 29 PCT patent applications
- 23 national/regional patent applications
- 38 licence agreements
- 57 new ventures completed NovaUCD’s CCDP
These and other developments are outlined further in this Report.
Dr Pat Frain
Director
NovaUCD
To receive a hard copy of the Report or for further information contact: Micéal Whelan, NovaUCD, tel: (01) 716 3712, e-mail: miceal.whelan@ucd.ie.
NovaUCD 2008 Annual Report (Complete Version) (2,608 kbs)