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25/09/2021

€20.6million support for start up businesses in Maynooth University

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A €20.6million building opened today at Maynooth University to support new start-ups.  According to Maynooth University President, Professor Philip Nolan, the facility will serve as a “research powerhouse” that will drive innovative teaching methods, foster collaboration with industry and deepen a culture of ‘spin-out’ companies.

The new building, Eolas, houses two of the University’s world-renowned research institutes, the Hamilton Institute and the Innovation Value Institute (IVI); the Maynooth University Departments of Computer Science and Electronic Engineering; MaynoothWorks, the University’s new business incubator; and the University’s own IT Services.

Three recent Maynooth University spin-outs alone have raised more than €20 million in investment and created 50 jobs. MaynoothWorks already has five client companies, including Verifly, the latest venture from Hailo co-founder Jay Bregman which provides web and mobile applications for recreational drone users; Accuplex Diagnostics, an early stage diagnostics company which is already selling product internationally aimed at treating both human and equine conditions and Avectas, which develops technology in pursuit of in-vivo diagnostic and therapeutic applications with a current focus on oncology.

         

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