15th October 1998

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The University of Ulster has announced details of a new £2.7 million business project to promote economic development in the North West of the province.

The project, which will be based at the University's Magee College campus, will provide space for at least eight new software businesses in a purpose-built technology facility.

It will be called the Technology and Software Incubator Centre, and will open in February 1999. The announcement marks the completion of three years of intensive negotiations between the University and its partners, who include Derry City Council, Londonderry Chamber of Commerce and other founders.

Funding has been provided by the University and private sources and includes one million pounds from the European Unions Special Support Programme for Peace and Reconciliation.

The Provost of Magee College, Professor Fabian Monds, says the project offers considerable potential for the technology-based economy in the region.

"Most business development in the province, and especially in the North West, involves new technology. This new Centre will underpin that IT growth.

"With our partners, we have built the foundation for the development of new technology based businesses which will make a vital contribution to the North West's economic future."

The Centre will consolidate Magee College's existing technology and business support programmes, in addition to its role in fostering business start-ups.

"We already have initiatives such as the Teaching Company Scheme, the Science Shop, and the Northern Ireland Knowledge Engineering Laboratory, which we use to help existing businesses. The new Centre will play a vital dual role - providing accommodation for innovative IT start-up businesses, and as a technology support centre, helping existing business and inward investment projects access the University's support services.

"This project represents the first time that both these roles - as business incubator centre and information gateway - have been combined in this way."

The new Centre has the support of partners in California's IT industry. Professor Monds says:

"It will build on our existing links with Silicon Valley. Already, our partners there have expressed considerable interest in the project.

"We're convinced the Centre will contribute towards job creation. At the moment, half of our young software graduates are leaving Northern Ireland. We want them to have the opportunity to stay and contribute to the local economy, and this Centre - which will become a magnet for IT innovation and excellence - will help make that possible."

Among the services the Centre will offer will be state-of-the-art software and electronic testing laboratories, full office and secretarial support and 24 hour access to secure business premises.

Co-founder of the Centre, Terri Scott, who is head of the School of Computing and Mathematics says four new enterprises which are at the business planning stage will move into the new Centre as soon as it opens its doors. She added:

"Our graduates are eager to play a part in this new initiative".

The Centre will be supported by UUTECH Limited, a company the University has formed which helps develop the business potential of spin-off initiatives from University research.

For further information, please contact:

Press Office Department of Communication and Development
Telephone: 028 9036 6178
Email: pressoffice@ulster.ac.uk