{"id":581,"date":"2019-08-23T20:05:04","date_gmt":"2019-08-23T19:05:04","guid":{"rendered":"http:\/\/ucd.emarkable.ie\/?p=581"},"modified":"2020-09-04T11:33:57","modified_gmt":"2020-09-04T10:33:57","slug":"where-start-ups-grow-and-scale","status":"publish","type":"post","link":"https:\/\/alumni.ucd.ie\/magazine\/2019\/where-start-ups-grow-and-scale\/","title":{"rendered":"Where Start-ups Grow and Scale"},"content":{"rendered":"

\u201cTHE NOVAUCD facility had been running at full capacity for several years and there has been a significant demand from ambitious entrepreneurs who wanted to locate their start-ups here to be part of our ecosystem of experienced mentors, founders, alumni, investors and sponsors who can help them grow their businesses globally,\u201d said Tom Flanagan, UCD\u2019s Director of Enterprise and Commercialisation in relation to the \u20ac6.5m development project to expand the centre which has just been completed.<\/p>\n

This twelve-month project, to renovate and extend the hub\u2019s eastern courtyard, has resulted in a 50 per cent increase in capacity to house companies and includes a dedicated co-working space, over 20 new business units and labs that together can accommodate up to 30 additional start-ups.<\/p>\n

NovaUCD, based on the Belfield campus, opened in 2003 and since then has supported over 360 companies and early-stage ventures to grow and scale. The companies which operate in sectors including AgTech, CleanTech, FinTech, ICT, MedTech and Life Sciences, have raised over \u20ac760m in equity funding.<\/p>\n

In 2018 the combined annual turnover of the companies supported amounted to over \u20ac113m and collectively they employed over 1,040 people directly and an estimated similar number indirectly.<\/p>\n

Companies currently, and to date, supported through NovaUCD include BiancaMed, Carrick Therapeutics, Corlytics, Equal 1 Labs, Equinome, GMI, Life Scientific, Logentries, MagGrow, NovoGrid, Nuritas, OncoMark, OxyMem, Terra Solar and Vivid Edge. These companies (some of which are profiled opposite) range from those at the early-stage of their development, to companies which have secured significant investment and are in the growth phase, to companies which have been successfully acquired.<\/p>\n

If you are interested in finding out more about locating your start-up at NovaUCD contact: <\/em>helen.mcgrath@ucd.ie <\/em><\/a>or visit <\/em>www.novaucd.ie <\/em><\/a>or follow @NovaUCD<\/em><\/p>\n

EARLY STAGE COMPANIES<\/h2>\n

OUTPUT SPORTS <\/strong>shrink lab-grade athlete performance analytics into a wearable system so coaches can optimise athletes\u2019 performance. Output Sports is an end-to-end system designed to streamline the off-field athlete performance optimisation process. It is capable of testing an athlete\u2019s performance profile (strength, power, balance,\u00a0 speed and mobility) and tracks their exercise programmes. The company, a spin-out from the UCD School of Public Health, Physiotherapy and Sports Science, was founded by Dr Martin O\u2019Reilly, Dr Darragh Whelan, Julian Eberle and Professor Brian Caulfield, based on research carried out at Insight, the SFI Research Centre for Data Analytics.<\/p>\n

MANNA<\/strong>, one of the latest companies to locate at NovaUCD, is planning to deploy custom-developed aerospace grade drones to deliver fast food. The company was founded by Bobby Healy, the former chief technology officer at CarTrawler. Manna plans to start with a limited-scale service in Ireland at the end of this year and is waiting for flight approval from the Irish Aviation Authority. It has announced a partnership with Flipdish, the food ordering software company. Among the VC firms to have backed Manna are, Atlantic Bridge, Elkstone and Frontline.<\/p>\n

EQUAL 1 LABS<\/strong>, Ireland\u2019s first quantum computing hardware\u00a0 start- up, is developing a new type of quantum computer based on CMOS (Complementary Metal-Oxide Semiconductor). Unlike current quantum computers which require very high costs to operate quantum bits \u2018frozen\u2019 at a temperature of 15mK, the Equal 1 Quantum Processing Unit can operate at higher temperatures and this significantly reduces its size. The company founded by Dr Dirk Leipold, Dr George Maxim, Mike Asker and Professor R. Bogdan Staszewski is a spin-out from the UCD School of Electrical and Electronic Engineering. Atlantic Bridge has invested in Equal1 through the University Bridge Fund to support the fabrication of the company\u2019s first quantum processor chip.<\/p>\n

IN GROWTH MODE<\/h2>\n

CARRICK THERAPEUTICS<\/strong>, a life sciences company, has an ambitious patient-focused vision to serve cancer patients around the world with ground-breaking cancer therapies. It is pioneering a portfolio of unique treatments to target driver mechanisms of the most aggressive forms of cancer, tailored to an individual patient\u2019s tumour. Carrick Therapeutics has secured $95m from investors including; Arch Venture Partners, Woodford Investment Management, Cambridge Innovation Capital, Google Ventures and Lightstone Ventures. In 2018, company co-founder, Dr Elaine Sullivan, won the EY Emerging Entrepreneur of The Year (EOY Ireland) Award. The company recently announced a move into the US.<\/p>\n

OXYMEM <\/strong>was co-founded by Wayne Byrne, Professor Eoin Casey and Dr Eoin Syron as a spin-out from the UCD School of Chemical and Bioprocess Engineering. The multi-award-winning start-up is a leading innovator in energy efficient wastewater treatment. OxyMem\u2019s breakthrough technology, the Membrane- Aerated Biofilm Reactor, addresses the global need for a more energy efficient wastewater treatment. OxyMem has an impressive list of financial backers including Dow Chemical Company and Saudi Aramco Energy Ventures and has clients in Ireland, UK, Europe, Japan, Middle East, Canada and Brazil and is in the process of growing employee numbers.<\/p>\n

VIVID EDGE <\/strong>has developed a pioneering \u2018energy efficiency as a service\u2019 model for organisations using large amounts of energy. It provides the capital to enable them upgrade the efficiency of their buildings, beyond their own capital budgets, replacing such expenditure with a simple service fee. It has secured backing from a European energy efficiency fund with an initial \u20ac30m facility and has completed projects with multiple organisations, generating a multi- million euro revenue stream, and has a sales pipeline reaching into Europe, Middle East and Africa. In 2019, founder and CEO Tracy O\u2019Rourke was a finalist in the Cartier Women\u2019s Initiative to encourage female entrepreneurs.<\/p>\n

SUCCESSFUL EXITS<\/h2>\n

BIANCAMED <\/strong>was co-founded in 2003 by Dr Philip de Chazal, Dr Conor Hanley and Professor Conor Heneghan as a spin- out from the UCD School of Electrical and Electronic Engineering. It developed a contactless, accurate device for the measurement of sleep and breathing. At the core of BiancaMed\u2019s technology was a sensitive motion sensor to detect respiration and movement without being connected to the human body. BiancaMed had raised significant funding when it was acquired in 2011 by ResMed, a leading developer, manufacturer and distributor of medical equipment for treating, diagnosing, and managing sleep-disordered breathing and other respiratory disorders. Dr Hanley has recently raised over \u20ac40m for his latest venture FIRE1, to develop a remote heart monitoring product.<\/p>\n

EQUINOME<\/strong>, an equine genomics company, was co-founded in 2009 by Professor Emmeline Hill, in partnership with Jim Bolger, the renowned Irish trainer and breeder, as a spin-out from the UCD School of Agriculture and Food Science. The company was established to commercialise research which resulted in the identification of the \u2018Speed Gene\u2019 in Thoroughbreds and the development of the Equinome Speed Gene Test which predicts the optimum race distance of a Thoroughbred horse. By 2015, Equinome was working with many of the world\u2019s leading thoroughbred training and breeding operations when acquired by Plusvital, the Irish equine nutrition company.<\/p>\n

LOGENTRIES <\/strong>was co-founded in 2010 by Dr Trevor Parsons and Dr Viliam Holub as a spin-out from the UCD School of Computer Science after a decade of joint research with IBM. Based on the simple premise that there was tremendous value to businesses hidden within log data entries, Logentries developed a SaaS based, log management service for collecting and analysing big data and making this data easily accessible to improve IT and business operations. The company secured $11m in funding and was servicing tens of thousands of users in over 100 countries before being acquired by Rapid7 in 2015 for $68m.<\/p>\n\n\n

Written by<\/strong> <\/em>Mic\u00e9al Whelan<\/p>\n","protected":false},"excerpt":{"rendered":"

\u201cTHE NOVAUCD facility had been running at full capacity for several years and there has been a significant demand from ambitious entrepreneurs who wanted to locate their start-ups here to be part of our ecosystem of experienced mentors, founders, alumni, investors and sponsors who can help them grow their businesses globally,\u201d said Tom Flanagan, UCD\u2019s…<\/p>\n","protected":false},"author":1,"featured_media":582,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[68],"tags":[],"class_list":["post-581","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-68"],"acf":[],"yoast_head":"\nWhere Start-ups Grow and Scale - UCD Connections<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/alumni.ucd.ie\/magazine\/2019\/where-start-ups-grow-and-scale\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Where Start-ups Grow and Scale - 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