Enterprise Ireland
Annual Report and Accounts 2007
Annual Report and Accounts 2007
Over the last ten years, Enterprise Ireland’s Campus Incubation Programme has invested €50 million in incubation centres in third-level education institutions around the country to encourage the set-up of high-tech, knowledge-intensive enterprises.
A total of €38 million has been invested in facilities at the Institutes of Technology (with support from the European Union), while €12 million has been invested in business and more specialised bio-incubation space in the Universities.
This financial assistance translates into support for 20 business incubation centres on 16 Institutes of Technology (or equivalent higher education institutions, i.e. the National College of Ireland) campuses, and four Universities, as well as for six bio-incubation facilities linked to the Universities.
The centres provide critical space for research-driven start-up companies and make available a wide range of support services and business mentoring. Tenant companies benefit from the research environment, being able to tap into mentors and the facilities of the host institution; the institutions benefit from having a focal point for entrepreneurial activity on campus and a commercialisation route for their research.
The companies involved typically have good links with the host institution, are in hi-tech sectors and have high growth potential. ATFM Solutions, for example, an Enterprise Ireland high potential start-up (HPSU) works closely with Galway-Mayo Institute of Technology on e-documentation solutions, as does asset tracking software provider eFast, also a HPSU.
In the Midlands, WPA Mobile, located at the Midlands Innovation and Research Centre (MIRC) in Athlone Institute of Technology (AIT), is developing mobility software that enables technicians working remotely to send reports and information back to base on a PDA.
Its Director, Oliver Heaney, says: “MIRC provides us with state-of-the-art facilities and a comprehensive business support programme, while AIT provides a ready-made research capability for developing our technology. There’s no doubt MIRC and Enterprise Ireland are creating the right conditions for the emergence of innovative companies here.”
MIRC Manager, Michael Lonergan, agrees: “Working closely with Enterprise Ireland, AIT is focusing successfully on increasing the number of high potential start-ups generated in the Midlands. We do this through incubation, business support and extending the expertise and resources of the institute to support client companies.”
Over 200 companies are now in the centres, employing more than 900 people, an impact that is making a substantial contribution to balanced regional development, a key element of Enterprise Ireland’s strategy.
