Incubators crucial to Ireland’s future

Incubators crucial to Ireland’s future -...

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Incubators crucial to Ireland’s future 11.07.2003 University College Dublin (UCD) is a prime example of a third-level institute turning the fruits of its vast science knowledge base into commercial reality through incubation units. Essentially, it’s following a long line of tradition that can be traced back to the early Fifties when the success of two engineering graduates from Stanford University in California – William Hewlett and David Packard – prompted the university to set aside 579 acres for industrial development next to the campus. Famously, the founders of corporate giant Hewlett-Packard had a makeshift garage as their premises and the patch of land became Silicon Valley. Incubation units nurture commercial activities, often from before their birth as start-up companies. Providing help with business plans, offering legal and financial advice as well as a home, incubators are life-support machines for entrepreneurial ideas. Third-level institutions throughout Ireland are setting aside more and more space for them on campus. Dr Pat Frain, director of NovaUCD ( pictured ) says that more and more, some of the most successful companies are coming from the universities. “There is no doubt that in the medium to long term Ireland has to develop a high-technology indigenous base and these types of spin-off companies are crucial to those developments. One of
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