Startup hub NovaUCD is expanding its capacity by 50% in a €6.5m development project, according to University College Dublin

UCD has been operating the hub for new ventures and entrepreneurs on its Belfield campus since 2003. During that time, it has supported around 225 companies.

Currently home to 25 startups, NovaUCD houses spinouts from UCD research programmes and firms that have ‘spun in’ to the hub to collaborate with the university.

The expansion project to renovate and extend NovaUCD’s east courtyard commenced recently and is expected to be completed within 12 months.

Tom Flanagan (pictured), UCD’s director of enterprise and commercialisation, said that NovaUCD has been running at full capacity for the last several years. “The development of the east courtyard will enable us to increase our capacity by over 50%, and when completed NovaUCD will be able to accommodate up to 450 people,” he added.

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NovaUCD currently has around 1,400 sq. m. of licensable space in a total of 40 units, labs and co-working space. The newly developed courtyard will add 800 sq. m. to accommodate 23 business units, labs and co-working space.

The internal courtyard area will also be designed as a new meeting and social space for client companies.

Six private sector sponsors – AIB, Arthur Cox, Deloitte, Ericsson, Goodbody Stockbrokers and Xilinx – provided 75% of the €10m raised to develop the first two phases of NovaUCD, with the balance of funds provided by Enterprise Ireland and UCD.

Pic: Nick Bradshaw, Fotonic