Third-level institutions ‘could create 66,000 jobs in 10 years’

INCUBATION companies in Irish third-level institutions could create up to 66,000 jobs within 10 years, according to one leading academic.

DCU Business School’s director of industry engagement, Dr Theo Lynn, believes that Ireland’s 33 universities and other third-level institutions should each commit to a goal of creating 100 jobs per year.

In theory this could add up to 6,600 jobs created in indigenous start-up companies per year. Over a decade, the target of 66,000 jobs would go a long way to creating a brighter economic future for Ireland, and foster a spirit of industrial independence.

For its part, DCU Business School is unveiling a new start-up company every day between now and December 20.

Each is an internet company, supported by DCU’s Leadership, Innovation and Knowledge Research Centre (LINK).

Unveiled under the ‘12 Business Days of Christmas’ banner, the 12 new companies launched over 12 successive business days will create 24 new jobs. More significantly, they offer a bit of Christmas cheer and some hope for the future.

Dr Lynn said: “Start-ups are not just for Christmas. I have high hopes for these companies, particularly the cloud-based enterprises. The numbers are small for now, but there is great potential.

“In this climate, people need to be part of a good news story. Four of these companies are graduates of DCU. They are role models for others. Some companies are hiring DCU students.

“The school is working with 75 to 100 start-ups at any one time. This is a trial. Some of these companies only need a few hours help a week, so I don’t see why we can’t help launch 12 companies every month. We think that a goal of 100 start-ups per third-level institution per year is achievable. Our goal is for each start-up to hire at least two people.”

The pre-Christmas driver certainly gets DCU Business School off to a flying start. All 12 start-ups already have a steady stream of clients in Ireland and overseas, and all have already hired as per the School’s stated goals.

Supported by AIB, the companies’ areas of activity are also quite varied. Their services range from mobile application design, e-commerce, and web TV.

Smartouch Media provides mobile applications and web design and development. Talentevo produces online performance management solutions. Edubills provides online payment systems for parents and schools. Sanncus provides online software asset management tools.

Other companies include: My Doggy Hotel; Rentview; CompareBookPass; Imagine Sunglasses; AerTv; Nimble Tours; Dairy LIMS; and Maybe Video, an online video platform for property and real estate.

Smartouch Media is the first company formally launched. Founded by two DCU graduates now in their 20s, John Pryor and Gavin Lockhart, it specialises in building affordable, functional e-commerce websites and smart phone applications for the Apple App Store, Android and the Windows platforms.

Smartouch Media have built open data and location based apps. The company has have design websites and assisted companies in developing an online presence.

Dr Lynn said: “John Pryor and Gavin Lockhart are off to a great start. They have gone out and got their own clients. They are developing in open data in parking management and a peer parking offering. They are very busy providing services for local authorities in Ireland and the UK. Open data is very topical right now, managing information that is available to the general public, and we are very optimistic about the futures of all of these 12 companies. DCU is Ireland’s University of Enterprise. We believe small business is big business and SME’s will play a crucial role in Ireland’s future economic growth. Universities, whether through research, education or engagement, should and can play a much more tangible role in helping entrepreneurs and startups develop and grow their businesses.” Dr Lynn accepts that not every company supported by Irish universities can soar to become a large employer. Nonetheless, even without that level of success, each company that gives two people an independent income is a sizeable saving for the Irish Exchequer.

Lucia O’Riordan of AIB Bank added: “Small businesses play a critical role in the Irish economy and are an essential ingredient for national recovery. We recognise and understand that there is a need for us to do much more and supporting events like the ‘12 Business Days of Christmas’ is a good opportunity for AIB to show their support. It’s also providing a way for local business to network and help them to grow and develop their business.”