DCU partners leading international universities to set up the T A Ryan Academy for Entrepreneurship at Citywest
13th May 2002

Details of a new university institute, linking enterprise with education were announced today at Citywest Business Campus. The Eeolas Institute is a major new initiative geared towards stimulating Ireland's transition to a knowledge-based economy. The Minister for Finance Mr Charlie McCreevy endorsed the announcement at a 'sod-turning' ceremony in the National Digital Park at Citywest Business Campus for the T A Ryan Academy for Entrepreneurship attended by the US Ambassador, Richard J Egan.

The Eeolas Institute will be developed by Dublin City University in collaboration with leading entrepreneurs and industry figures, with the support and input of Columbia University, New York and Northeastern University, Boston. Discussions with a view to involvement are also taking place with the University of Ulster.

The Eeolas Institute evolved following the decision of Dr Tony Ryan's family to provide almost €4 million towards the development of an educational facility focussed on entrepreneurship. The T A Ryan Academy for Entrepreneurship is the first phase in the development of the Eeolas Institute. The involvement of Dublin City University has been the key impetus to develop this ambitious new facility and in attracting prestigious international academic institutions to support it. Davy Hickey Properties is providing the land for phase one of the development and has committed to providing additional land to provide for the planned expansion of the Eeolas Institute.

Speaking at today's announcement Minister McCreevy said: "This Government is keenly aware of the importance of a skilled workforce to the future growth of our economy. I congratulate all of the participants involved in this exciting development, in particular Dr Tony Ryan and his three sons Cathal, Declan and Shane, whose vision has made this a reality. I applaud also Dublin City University for its courage in moving outside the confines of its campus to provide an educational resource of excellence in the heart of a hi-tech, knowledge-based enterprise setting at Citywest Digital Campus."

Commenting, Dr Tony Ryan said: "Ireland's future economic growth and prosperity depends upon our ability to develop our international competitive position through entrepreneurship, innovation and research and development. I am confident that the Eeolas Institute, under the direction of Dublin City University and with the support of enterprise will be a world-class resource for both indigenous and multi-national enterprise. I am delighted to be associated with and to contribute to this exciting development".

Professor Ferdinand von Prondzynski, President, DCU said: "Dublin City University is committed to the development of integrated learning communities. Through the Eeolas Institute we will provide a forum for interaction between those who have already blazed a trail, those who have studied the patterns that produce success and those that are just stepping on the path to innovation".

Dr Edward Walsh, President Emeritus of the University of Limerick who has played a central key role in bringing the original concept to fruition, said that: "The remarkable generosity of the Ryan Family and of Davy Hickey Properties has stimulated the creation not only of the Academy for Entrepreneurship but also of the Eeolas Institute. President von Prodzynski's exciting plans for DCU's growth at Citywest, trail-blaze a knowledge-age model for development that other European universities will inevitably follow".

Columbia University, a private Ivy League institution, is one of the most distinguished Universities in the United States. Its business school was founded in 1951 and is ranked among the top 5 in the world. The University expends over $500 million annually in research and development and has been awarded 61 Nobel prizes over its distinguished history.

Northeastern University already has strong links between its College of Business Administration and the DCU Business School. Northeastern has along long track record of working closely with the business community and was the first university to integrate work-placement programmes as part of its business degrees. Northeastern has also taken a leadership role in designing educational programmes that encourage entrepreneurship.

THE EEOLAS INSTITUTE

The Eeolas Institute will provide the flexible framework within which Dublin City University and collaborating universities will develop a variety of research and educational initiatives that tend to prosper in an environment of enterprise, where university, business and industrial leaders freely interact and collaborate.

The collaboration with venture capitalists and other potential investors in the Eeolas Institute will ensure that emerging innovations will be submitted to rigorous appraisal. Their potential for financial success and support will be correspondingly enhanced.

Buildings of the Institute will be interspersed on the Citywest Campus amongst those of leading-edge enterprise; creating an intermingling that is unusual, certainly in Europe. Development of the Campus is designed to stimulate the kind of interaction so vital to university/enterprise collaboration but so difficult to achieve on the traditional enclosed university campus.

In particular, it can be expected that the Eeolas Institute at Citywest will provide the conditions and infrastructure necessary to support the major basic and applied research undertakings of national strategic importance and serve to attract to Ireland, leading-edge research investment that calls for close enterprise-academic collaboration.

T.A. RYAN ACADEMY FOR ENTREPRENEURSHIP

The T A Ryan Academy will focus on the intrapreneurial requirements of multinational corporations, large Irish companies and the State and semi-State sectors as well as the indigenous enterprise sector and serve as a European forum for entrepreneurship.

At the Academy, innovators and entrepreneurs will receive customised training and education to meet their specific needs. More importantly, they will benefit from peer networking and the wholehearted integration of leading international entrepreneurs into the Academy's teaching and learning activities as mentors, advisors and faculty.

The T.A. Ryan Academy will provide a leadership role by undertaking research and developing an understanding of the determinants of entrepreneurial and intrapreneurial success. It will be formally linked with the best entrepreneurial centres in the world and, similar to the Irish economy itself, will serve as an international hub between Europe and the global economy.

Construction of the T A Ryan Academy for Entrepreneurship will commence over the coming weeks and will take approximately 12 months to complete. The Academy will be open to students from September 2003.

CITYWEST - AS A LOCATION

The quality of the landscaping and facilities at Citywest already provide a sense of community for the 80 companies, which have located there from nine different countries around the world. Citywest Business Campus is a managed and mature campus of over 300 acres, located just 30 minutes drive from the City Centre and Dublin International Airport. Davy Hickey Properties, the developers of Citywest are committed to faciltating the on-going development of the Eeolas Institute and to providing additional lands for same.

ENDS

For reference:

Eilis O'Brien, Dublin City University
Tel: +353 1 700 5217 | +353 87 2057125