It's one thing to make a great discovery, but it's another to exploit its commercial value, which is where UCDNova comes in, writes Dick Ahlstrom.
SCIENTIFIC RESEARCH is about discovery and creativity, but it is also about commerce and economic development. All these attributes come together at NovaUCD, where discovery is turned into wealth.
NovaUCD is University College Dublin's €11 million innovation and technology transfer centre, set up five years ago as a joint venture by the College with Enterprise Ireland and six private sector companies.
Its goal is to ensure that research discoveries are turned into innovative new products and processes, says its director, Dr Pat Frain, who today launches NovaUCD's annual report for 2007. The report shows that UCD researchers submitted 50 new "invention disclosures" during the year, an increase of 35 per cent on 2006. There were 28 patent applications, including nine priority patent applications lodged in order to protect valuable intellectual property (IP), and there were eight technology licensing agreements and four new "spin-out" companies formed, again on the back of UCD research activities.
These figures were indicative of UCD's commitment to the commercialisation of IP for the benefit of the country, says Dr Frain, adding that no less than €100 million has been invested in new companies formed from UCD research activity since the mid-1990s. Pursuing these opportunities is an essential element of conducting research. "It is all a fundamental part of developing a knowledge economy," he says.
Research is a central role for a university, and the discovery of new knowledge is in itself a worthy goal. However, much more can be achieved if the research is then brought to market with the potential not only to create wealth but also to attract more inward research investment to Ireland. The country can't compete for inward investment against the low-cost economies, but it can compete on the basis of investment in research. "Most of our public research is undertaken in our universities," says Dr Frain, and so it is important to pursue commercial opportunities arising from it.
Many high technology companies coming to Ireland cite our deepening commitment to research as their reason for coming here. These companies, in turn, "support the development of an indigenous high-tech sector," Dr Frain says.
UCD has a long history in supporting the creation of campus companies and bringing research discoveries to market. Its University Industry Centre opened in 1985 and raised £1 million in support of its activities. Dr Frain joined this in 1988 and has remained a part of UCD's innovation activities every since. The centre reached a crossroads in 2004 when UCD went back to basics and looked at what the academics and industry wanted from an innovation centre. The result was NovaUCD, a public-private partnership joining UCD with AIB, Arthur Cox, Deloitte, Ericsson, Goodbody Stockbrokers, Xilinx and Enterprise Ireland. The group contributed €11 million for the right to retain an interest in any income derived from the sale of IP or companies set up on the basis of UCD IP.
NovaUCD is not only responsible for the setting of policies on the commercialisation of IP, but also provides incubation facilities for start-ups in its purpose-built centre located at Merville House on the UCD Belfield campus. There are currently 23 new companies occupying 37 incubation units there, and nine companies have "graduated" to move on to larger premises.
NovaUCD offers a three-part programme of services, according to Dr Frain. It is active on campus to try and find opportunities for innovation and technology transfer that could have commercial potential. It has an internal technology transfer group which handles IP issues and develops strategies for commercialisation. And it runs support services for would be entrepreneurs and start-ups, supporting reluctant academics and providing consultancy and information.
Surprisingly, not all academics want to become entrepreneurs, he says, nor would the university want NovaUCD to tempt too many into the commercial world. "We are not trying to take academics out of the institution," Dr Frain says.
Many wish to remain in research, but end up working in their new spin-out companies as technical officers or consultants, allowing those with a bent for business to do their thing.
He views NovaUCD's remit as highly important. "Research contributes to economic and to social development," he says.