UNIVERSITY COLLEGE DUBLIN (UCD) has said that five new ‘spin-out’ companies will be set up as a result of the institution’s research and they plan to employ more than 50 people by the end of 2013.

The new companies have been set up as a result of the commercialisation of research undertaken at UCD last year in areas such as energy management, pharmaceutical technologies and specialist construction risk assessment and management.

The institution also said that a total of 44 new inventions were generated by researchers at the university in 2011 bringing to 295 the total number of inventions since 2007.

Thirty-six patent applications were filed under intellectual property arising from research being undertaken. It brings the total number of patents to 91 in the last five years.  There were 17 licence agreements concluded by the institution bring the total number to 50 over the last five years.

“Developing a sustainable smart economy in Ireland needs a strong flow of innovative ideas and high-tech start-up companies. 2011 was an excellent year for the establishment of new high-tech start-ups at the University,” Peter Clinch, vice president of innovation said.

“These start-ups will grow and develop in the coming years which will generate highly-skilled job opportunities.”

The five new spin-out companies are:

1. APC which provides pharmaceutical processing technologies
2. Belfield Technologies which has developed the HIDLightSaver that aims to help organisations to reduce their energy costs and associated carbon footprint
3. Building Risk Assessment & Management (BRAM) Consulting Engineers which provides risk assessment and management services for existing buildings during construction or industrial activities taking place adjacent to it.
4. NewLambda Technologies which is looking at the provision of extreme ultra-violet light sources and optics to the semi-conductor industry for next generation chips.
5. Wattics which has developed what is described as an innovative ‘smarter metering’ system for businesses.