Dr Hugh Brady, President of UCD; John Hartnett, Chairman of the ITLG; and Dr John Hegarty, Provost of Trinity College Dublin
The UCD/TCD Innovation Alliance has signed a transatlantic collaboration agreement with the Silicon Valley-based Irish Technology Leadership Group (ITLG) to drive innovation, create new business in Ireland and augment the student experience at 4th Level. UCD President, Dr Hugh Brady and TCD Provost, Dr John Hegarty, along with ITLG chairman John Hartnett, announced a Memorandum of Understanding (MoU) to promote technological innovation through this unique Ireland-US partnership.
The agreement will see the ITLG working with the universities to advance the goals of the recently announced Innovation Alliance. ITLG will contribute their expertise to enhance the training of students participating in the newly formed TCD/UCD Innovation Academy. The ITLG will also help grow the number of new, quality business spin-outs from the Alliance. In addition, Irish Technology Capital (ITC), a sister organisation of ITLG, will help to drive Venture Capital funding in Ireland.
Commenting on behalf of the Innovation Alliance, UCD President, Dr Hugh Brady said: “Among the challenges Ireland faces is to continue to develop and scale-up partnerships with overseas industry. By fostering links with the Irish Technology Leadership Group, we hope to convince some of their members to bring their entrepreneurial flare, commercial experience and indeed, venture capital to Ireland. We are firmly confident that the calibre of our graduates and our research will encourage greater engagement between the Innovation Alliance and the ITLG.”
John Hartnett, chairman of the ITLG added that: “In the midst of Ireland’s economic turmoil, there has never been a more important moment to foster and invest in technological innovation. ITLG is delighted to seize the opportunity to pursue that objective in partnership with two of Ireland’s premier research universities through the Innovation Alliance.”
A summit meeting will be hosted at the Irish embassy in Washington DC on 10th September 2009 to devise a programme of specific collaboration around the goals as set out in the agreement.
