Innovation Hubs in 3rd Level Institutes

Contact person 
Valerie Brett
Institution 
Waterford Institute of Technology
E-mail 
vbrett@wit.it
Country 
Ireland
Do you want to share an instrument/policy or a knowledge Transfer practice? 
Knowledge Transfer Practice
What are the following keywords/priorities which better fit the instrument/policy?  
No information provided
Identify the Knowledge Transfer area to which the practice belong 
Spin-off creation & Entrepreneurship
Indicate the country from which the practice is 
Ireland
What is the title/name of the instrument/policy? 
No information provided
What is the title/name of the practice? 
Innovation Hubs in 3rd Level Institutes
Indicate the target group/beneficiaries of the practice 
All companies
Higher education institutions (education function)
Higher educations institutions research units/centres
New technology based firms/new knowledge intensive service firms
What is the aim/objective? 
To build a regional ecosystem in which research is co-located with startup companies and with training and advisory services for entrepreneurs.
Give an overview of the practice 
WIT has developed a successful model for co-locating research, business incubation and entrepreneurship training. The key to this model is in enabling the movement of human capital between the three elements. Research generates know-how and intellectual property, and helps early-stage companies to develop technologies. Business incubation provides the physical infrastructure and advisory services for spin-outs, spin-ins and entrepreneurs. Entrepreneur development programmes provide a pipeline of companies that are interested in accessing research and utilising business incubation services. This model is now being rolled out to satellite centres in region.
What is the date of creation of this practice? 
Thursday, March 3, 2005
Is the practice still active? 
Active
What is the approximate budget needed for implementing this practice? 
2.50€
What kind of resources is needed for implementing the practice? 
2 full-time equivalent (FTE) staff and associated administration support.
Is this practice linked to an instrument/policy? 
Yes