UCD’s NovaUCD building to receive €6.5 million upgrade

The investment will allow 50% more startups to be housed there

flickr: leandrociuffo

University College Dublin (UCD) have announced a new €6.5 million development project to expand NovaUCD’s capacity for startups. The project will include the renovation and extension of the facility’s east courtyard over the next 12 months.  

The development of the east courtyard will increase the capacity of the building b 50%, while also allowing up to 450 people to be accommodated. The development will add 800 square metres of licensable space to the existing 1,425 square metres. It will also host 23 business units, labs, and co-working spaces.

UCD’s Director of Enterprise and Commercialisation, Tom Flanagan, recognised the importance of the renovation and said: “The NovaUCD facility has been running at full capacity for several years now.” He also pointed out the huge demand for the facility from “ambitious entrepreneurs who want to locate their start-ups at NovaUCD”.

The first two phases of the project cost €10 million, with 75% of that being sponsored by private sector companies, which include AIB, Arthur Cox, Deloitte, Ericsson, Goodbody Stockbrokers and Xilinx, alongside Enterprise Ireland and UCD.

Flanagan also pointed out that “by joining the NovaUCD community, these start ups can also take advantage of access to our world-class researchers, facilities and talent across the UCD campus”.

NovaUCD was opened in 2003, on UCD’s Belfield campus. The hub has supported around 225 companies, and has raised over €200 million in equity funding for development and growth. It has also registered 750 invention disclosures, and filed over 250 patent applications.

Some of the start-ups supported by NovaUCD include ChangingWorlds, BiancaMed and Equinome. It currently hosts Carrick Therapeutics, OncoMark and THEYA Healthcare, among others.

Shauna Bannon Ward

Shauna Barron Ward is a staff writer at Trinity News. She is a Junior Sophister Law student.