Spin-out firms employed over 1,000 people last year

Knowledge transfer Ireland (KTI), the State-funded central technology transfer office established in 2014, has said that of the 1,243 collaborative agreements signed between research organisations and industry, 78 per cent of companies were based in Ireland.

In terms of collaboration with small or medium enterprises, 94 per cent of research collaborations were with Irish SMEs.

The research shows that the number of active spin-out companies, or companies that started life in a research organisation, that are three or more years post-formation grew to 119 by the end of last year. The group estimates that these spin-outs employed roughly 1,000 people last year.

“The results of this year’s Annual Knowledge Transfer Survey (AKTS) shows consistent performance in the level of engagement with industry and a steady growth in the maturation of spin-out companies.

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"The outputs leveraged from the amount of public research funding are impressive and recognise not only the focus on innovation within the Irish research base but the impact of the investment in technology transfer through the Enterprise Ireland TTSI programme", said Dr Alison Campbell, director of KTI.