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Posted: 04 April 2007

Minister Martin announces €8.5million boost to knowledge economy

As part of an €8.5 million investment announced by the Minister for Enterprise Trade and Employment, Micheál Martin TD, to allow for the appointment of high calibre specialists to oversee strong links between universities and the commercial sector, UCD will receive a significant investment to employ several additional technology transfer professionals, a contracts manager and administrative support in NovaUCD.

NovaUCD, The Innovation and Technology Transfer Centre at UCD
NovaUCD, The Innovation and Technology Transfer Centre at UCD

The announcement, on 3 April 2007, is part of a €30 million Technology Transfer Initiative overseen by Enterprise Ireland to ensure that ideas, research and technology generated in Irish Higher Education Institutions are used to keep Irish companies at the cutting-edge of the knowledge economy.

"The appointment of these new technology transfer professionals will spearhead the drive to commercialise the ideas and technologies produced in Irish Research Institutions. If we are to remain a world leader in the high-tech sector then strong links between our researchers and our entrepreneurs is vital," said Minister Martin.

“Increasing levels of research at UCD is fuelling growing numbers of invention disclosures and other opportunities for commercialisation,” said Dr Pat Frain, Director, NovaUCD. “And, international experience has shown that successful commercialisation can only be achieved with the support of strong technology transfer offices, such as NovaUCD.”

“With increasing pressures to demonstrate a return on the growing public investment in R&D and the long lead time involved in the successful commercialisation of the resulting intellectual property, Enterprise Ireland’s support for the expansion of the NovaUCD technology transfer team is warmly welcomed,” he explained.

NovaUCD is responsible for the implementation of UCD’s policies relating to the commercialisation of intellectual property and for the management of the intellectual property portfolio arising from UCD’s research programmes.

At a recent event in NovaUCD, Dr Hugh Brady, President of UCD, launched the university’s Intellectual Property Policy and Procedures (2006). The policy incorporates and replaces the main provisions of the UCD Patents Policy and Programme (1992). It is intended to actively support the commercialisation of University Intellectual Property in a way which ensures maximum benefit to the Irish economy and society, while providing a significant increase in financial incentives and recognition for the creator of the intellectual property.

UCD’s share of income from successful commercialisation will be used to fund further research and development, innovation, technology transfer, commercialisation and related activities.

The new Policy takes account of the changes in legislation, including the Copyright and Related Rights Act, 2000, and is consistent with the National Codes of Practice and the Funding Agency Requirements and Guidelines for Managing Research-Generated Intellectual Property which have been incorporated into the terms and conditions of Science Foundation Ireland, Enterprise Ireland and other agency research contracts.

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