Bank of Ireland will support the development of a new undergraduate certificate in innovation and entrepreneurship at Trinity.
Trinity College Dublin and Bank of Ireland have created a new partnership at the Trinity Innovation and Entrepreneurship Hub.
Bank of Ireland will now support the development of a new undergraduate certificate in innovation and entrepreneurship.
Furthermore, the existing programmes such as LaunchBox, the Trinity student business incubator, will be expanded. New programmes such as expert-led sprints and hackathons will also be developed in partnership with the bank’s Enterprise and Innovation team.
“We see innovation as being critically important – for our company, for our customers, and for the country as a whole,” says Francesca McDonagh, CEO, Bank of Ireland (pictured with Dr Prendergast). “It gives me great pleasure to deepen our relationship with Trinity – a college associated with original thought and innovation for many centuries. We look forward to working with Trinity College on a variety of I&E Hub programmes to help the ambitions of Ireland’s future leaders and innovators.”
“It’s another great opportunity for students to understand what it’s like to start a business.”
All Trinity students, researchers, and graduates will be able to take part in the innovation, entrepreneurial and idea development programmes at the Trinity Innovation and Entrepreneurship Hub.
“Promoting entrepreneurship as an engine for economic growth, and for social and cultural development is a key strategy for the university,” says Dr Patrick Prendergast, Provost of Trinity. “We must ensure that we derive value from our leading research and equip our students with the ability to drive innovation and thrive in a world of constant change.”
What do the students think?
Paul Allen, president of the university’s Entrepreneur Society, says the new undergraduate certificate in innovation and entrepreneurship gives students from all undergraduate disciplines the chance to test themselves and their ideas and build new businesses.
“Previously it was mainly business students who took part in the existing entrepreneurship programmes,” says Allen. “Now, students from all disciplines can take part. It allows them to take their research and see if it can be applied as a business solution.”
Computer Science and Business student Sinéad McAleer (pictured) says she knows many students who are interested in starting businesses and that the new undergraduate certificate is a dynamic way for them to grow and develop their ideas.
“It’s another great opportunity for students to understand what it is like starting a business or being part of a team that wants to start a business. At the root of all this are the people and their ideas.”
Kate Laite, a Computer Science student, says that having access to such programmes in college gives students a real head start on their business journey.
“University is a great place to meet the best minds in a variety of fields,” says Laite. “I think you can never have too much knowledge and being in an environment where new business ideas are explored each week helps develop an entrepreneurial mindset.”
Sinéad McAleer agrees, saying: “You are surrounded by people with new ideas and new ambitions. This is what innovation and entrepreneurship are about, it’s about constant learning, understanding that change is important and being able to challenge and mould ideas until they are strong enough to become businesses.”
Innovation and entrepreneurship at Trinity – the numbers:
- Trinity is first in Europe for producing Entrepreneurs* and is the only European university to feature in the world top 50, generating 180 companies, producing 192 entrepreneurs and raising $2,166 million over the last ten years *(Pitchbook Universities Report, 2016/2017).
- 474: Trinity has signed 474 industry collaborative research contract in the last five years. Rising from 24 in 2012 to 156 in 2016. Partners include global leaders across all sectors including Intel, Huawei, AbbVie and Johnson & Johnson.
- €60m: Trinity, in partnership with UCD, established Ireland’s first venture fund with an exclusive focus on commercialising research from higher education institutes.
- 100: Trinity faculty have established over 100 campus companies in the last 30 years. These companies have raised investment of over €0.5 billion, had exports of over €1.3 billion, and have commercialised 300 products.
- €110m: Trinity’s research income now represents one-third of the University’s total revenue.
- 19th: Trinity is the 19th highest ranked institution in Europe for Horizon 2020 funding out of more than 14,000 organisations. Trinity has been awarded €66m in funding in the first two years of H2020.
- 50%: Trinity has won 50% of all of Ireland’s ERC awards during H2020. ERC awards are the most prestigious research grants in Europe for individual academics.
- 1st: Trinity is ranked first in Europe for citations of its patent portfolio in Reuters ranking of Europe’s most innovative universities. Citations are the international measure of quality and excellence.
- 75: Trinity’s student accelerator LaunchBox has supported 75 companies in its first years. Five of these companies have raised over €4.7m in investment between them including FoodCloud, Touchtech Payments, Artomatix and MatchDay.
- 112: Trinity has licensed 112 technologies from its technology portfolio in the last five years [2012-2016] to globally leading companies such as Google, Samsung, Intel, GSK, Microsoft, Thomas Swan, Hewlett Packard and EMD Millipore.