Ten new start-up companies have joined the Innovation in Business Centre (IiBC) at Galway-Mayo Institute of Technology (GMIT) Castlebar, since the centre officially opened in March 2006.

InTime Media, one of the companies in the centre, was recently awarded an Innovation Partnership Programme by Enterprise Ireland. The programme assists Irish industry and third level colleges to work together on cutting-edge research projects by offering financial support. Initiatives such as these help Ireland to move from an investment-driven economy to an innovation and knowledge-driven economy.

The other start up companies in the IiBC at GMIT Castlebar are: Tablane Technology, CMS Ltd, Wallstress Technology, IKI Group, Connaught Wireless, Cara International and three clients on the new Midlands and West Enterprise Programme.

The Innovation Centre at GMIT Castlebar

The IiBC is now approximately 80% occupied and is also collaborating on numerous local and regional initiatives aimed at generating interest in entrepreneurship and innovation.

Maria Staunton, Manager of the IiBC at GMIT Castlebar, says: "A strong culture of support is a key factor in fostering entrepreneurship in Ireland. In the past, Irish people viewed entrepreneurs with scepticism but they now recognise their contribution to the country’s economic growth, leading to an increase in the numbers of people who will take a chance on starting up their own business."

"We are delighted with progress to date and for becoming a catalyst for many people to take that step towards creating their own successful company. Their energy commitment and drive will eventually lead to the creation of new jobs, which will further boost the local economy."

"While we appreciate that many new high technology start-up companies fail in the first few years, statistics demonstrate that those that go through a process of incubation within innovation centres have a much greater chance of growing into sustainable businesses than start-ups that do not."

For further information, contact: Maria Staunton, IiBC Manager, GMIT Castlebar. Tel: 094-9027492