castleside

New to the boards, but noticed that one area gone unmentioned it the ongoing developments at Limerick Institute of Technology. LITMUS is nearing completion, as should be coming on stream early in the new year.

Taken from the LIT website:

Limerick Institute of Technology – Midwest Unit Start-ups Business Incubation Centre

“Recognising the need for balanced regional development as identified in the National Development Plan (NDP) and conscious of the need to provide incubation and commercial R&D services to realise the full entrepreneurial capacity within Limerick Institute of Technology’s collegiate, singly and in partnership, LIT, in its strategic plan for 2001-2006 identified the need to “Improve the accessibility and range of the Institute’s services by forging closer links with industry and the general community” as one of six strategic objectives.

The Institute is continuing to spearhead many initiatives in this area from education, through in-company training, to research and development to supporting local enterprise, and now new high potential start-up units (H.P.S.Us.).

The Governing Body of LIT has recently been granted planning permission for a major initiative to complement these activities, developing on the main campus at Moylish Park, an incubation centre to ideally facilitate a seamless transition from education to successful enterprise in a supportive environment.

The primary objective of Limerick Institute of Technology Mid-West Unit Start-ups (LITMUS) is: “Regional Incubation and Business Development by Design, of Knowledge Based Industries geared at developing high skilled, high value-added, sustainable and quality employment”. The LITMUS Incubator will be an important component in impacting significantly on the socio-economic fabric of the Mid-West region. A multidisciplinary mix of enterprises will be targeted, including but not limited to: information and communications technology; financial and business services; zero emission technology; bio-technology and high value added commercially enterprise which can be internationally traded.

The principal of LITMUS becoming part of a wider network of local and regional incubators operating harmoniously within the existing provision of the Shannon Development Knowledge Network in the Mid-West Region is being explored. LITMUS proximity to the Shannon Free Zone, some 20 minutes, will make it the closest incubator to the Shannon Industrial Zones, West Park, Knockabeg point, Smithstown Ind. Est, Shannon Airport and central to the Limerick/ Ennis /Shannon Gateway identified under the National Spatial Strategy (NSS) and now known as the Atlantic Technology Corridor.

The long term primary target market for clients is the collegiate population of LIT, now numbering some 5,500 with an additional 8,000 alumni. The institute will also aggressively market to the following segments during its first years of operation: graduates from other IoT’s, Universities, other third level colleges; independent entrepreneurs and community enterprises.

LITMUS is a new, modern, flexible 1338 m2 facility which will nominally comprise 17 incubator units and 3 integrated dedicated research laboratory units for the commercialisation of LITs’ R&D activity under programmes such as CORD and the Commercialisation Fund or preferably jointly with SMEs under the Innovation Partnership Programme with local industries.

The schedule of accommodation includes: a single reception area and general administration office, a cafeteria, seminar/meeting rooms and cellular office units. Additionally, the LITMUS site provides further capacity to expand the centre on a phased basis to 4000 m2.

The LITMUS building programme, some 40 weeks, commencing early April 2005, is expected to be completed by end December 2005, with full occupancy being achieved by end 2007. The Design Team are: RKD Architects, Bruce Shaw Quantity Surveyors, Delap and Waller Consulting Engineers, ARUP Civil and Structural Engineers. We are currently in the process of appointing the Principal Contractor.

The cost of building the centre is ca € 3,000,000 of which 82 % in grant aid has been awarded through Enterprise Ireland under the EUs’ “Regional Innovation Strategies – Infrastructure Support Programme”. The remaining 18 %, will be met by Limerick Institute of Technology from within its own resources and through targeted fund-raising projects of key Irish and multinational companies.

The incubators location adjacent to LITs’ proposed desk based research centre, is also seen as enhancing the facilities available to young companies and creating the acuity of company start-up as literally the next step for researchers. A high level of demand is expected fuelled by a number of factors; the deficit of incubation space in the region; the large primary market of the LIT collegiate; significant increase in Research Activity and Ab-Inito Degrees at LIT; and the dynamic academic community of the Institute.

The centre will be managed by a full time manager and administrative support staff. A management board, comprising the project partners, will also be appointed to undertake the strategic development of LITMUS with the Institutes’ Director and Development Offices ensuring effective liaison between the centre and the Institute.

A full range of shared and charged services will be provided to clients. Clients of LITMUS will normally be offered a flexible licensing arrangement, with a maximum residency of three years, paying accommodation charges and costs in proportion to the size of the unit.

Critical success factors for LITMUS include the ability of the Institute to engage collegiate in the business of technology transfer and commercialisation of research and intellectual capital. Realising this, the college in collaboration with Shannon Development have launched a number of initiatives to this end including: Campus Company Lunchtime Seminars, Best Business Plan Competition, a Grad. Dip., M.B.S. Graduate Training Placement Programme with Shannon Development Nurtured HPSUs to function as marketing executives.

An additional success factor is the Institute’s capability to respond quickly to and engage in partnerships with industry, development agencies, national and international networks. To this end and for the benefit of research, technological development and innovation the Institutes commitment to this process is evidenced by the development of policies, procedures and documentation necessary to more efficiently and effectively engage with industry including NDA (Non-Disclosure Agreements) and IP (Intellectual Property).

Within five years LITMUS is expected to lead to the development of 20 sustainable sources of quality employment generating 75 local jobs of which 75% will be graduates. In ten years and at steady state it is projected that LITMUS will have nurtured 40 sustainable enterprises generating 350 local jobs, spin-off 3-4 new enterprises on an annual basis and have 100 % collegiate occupancy from the graduate, postgraduate, research or academic staff segments. The development of LITMUS is a major step forward in the Mid West regions innovation and incubation infrastructure. It presents an ideal platform to harness the full entrepreneurial capacity of LITs’ collegiate, alumni and catchment and to nurture the next generation of industries in the Mid-West Gateway, “The Atlantic Technology Corridor”.

Developments to date could not have happened without the support of Enterprise Ireland; Shannon Development; LITs’ Executive Management Team, Governing Body, Academic Council and you the LIT collegiate. “

Also, read somewhere about the further deveopment of a new Learning and Information Centre which will incorporate the current library, whilst extending and improving it, as well as the re-development of the Clare Street Campus, which will now incorporate all sections of LSAD. Much info on that, when I can access it.

The following are of the new LITMUS building: