National body to help universities create spin-outs

IRISH universities will be supported in their efforts to produce spin-out high potential companies by a new national professional body.

The new Irish Technology Transfer and Innovation Group (ITTIG) plans to increase both the number of spin-out firms created in Irish higher education institutions (HEIs), and the number of technology licence agreements between the HEIs and industry partners.

ITTIG chairman, Dr John Scanlan, explained: “It’s widely acknowledged that, while foreign direct investment continues to be hugely important for the Irish economy, we need to ramp up our own indigenous industries, especially in high tech, high potential, export-oriented sectors, like life sciences, medical devices, and clean technologies.