NovaUCD predict 300 highly skilled jobs will be created over next two years

IRELAND’S BID to boost its “smart economy” credentials received support from NovaUCD, the university-linked innovation and technology transfer centre, yesterday as it forecast that some 300 highly skilled jobs would be created by the 37 companies based at the centre over the next two years.

This will more than double the number of people employed in companies based at the University College Dublin centre, which stands at 205.

Prof Peter Clinch, vice-president for innovation at UCD, said the 37 companies had between them raised more than €40 million in equity investment to date.

This contributed to the creation of 80 jobs during 2011, while an annual employment survey of companies based at the centre revealed optimism for 2012 and 2013.

The companies based at NovaUCD include a mixture of “spin-out” firms, whereby UCD researchers commercialise their research activities, and “spin-in” companies, or firms that locate themselves within university innovation centres in order to collaborate more closely with university researchers.

NovaUCD companies include energy management company Wattics, a spin-out headed by Dr Antonia Ruzzelli that has developed a smart-metering system for businesses and plans to employ 20 people by 2013.

The centre is also home to Docosoft, headed by Aidan O’Neill, which develops software for the global insurance and financial services markets, and plans to take on at least 10 staff by 2013.

Meanwhile, online language-learning platform provider RendezVu, headed by Paul Groarke, is on course to raise €500,000 in the second quarter of 2012 and also intends to add 10 staff.

Other commercial activities at the centre, which is funded through a public-private partnership that includes Enterprise Ireland, include social web-search products, localisation services for app developers and equine genetics.

“The development and growth of such high-tech and knowledge-intensive companies is of critical importance for Ireland’s economic recovery,” said Prof Clinch.