UCD: increase in technology commercialisation

NovaUCD, the Innovation and Technology Transfer Centre responsible for the commercialisation of intellectual property arising from University College Dublin’s (UCD) research programmes, has announced its 2009 results, showing an increase in its commercialisation activity.

In 2009 the university’s researchers reported 85 new invention disclosures, a 60 per cent increase on 2008. In total 247 inventions have been disclosed to NovaUCD during the last 5-years.

In 2009 seven spin-out companies were established, bringing to thirteen the total number of UCD spin-outs since 2005.

There were 47 patent applications, up 25 per cent on the 2008 figure. A total of 88 patent applications have been filed by UCD in the last five years. In addition, over 50 licence agreements were concluded.

Pat Frain, Director of NovaUCD, said, “NovaUCD’s successes during 2009 clearly  demonstrate that the public investment in R&D at UCD is yielding a significant return to the Irish economy and society. The support received from Enterprise Ireland through the Technology Transfer Strengthening Initiative is continuing to have a significant impact on the pipeline of inventions and innovative ideas coming through NovaUCD’s technology transfer and innovation system.”

Frain added, “We should recognise that the conversion to licence deals, new companies and much needed employment takes time and that one major issue is the need to ensure that early-stage campus companies have access to finance.”