An innovation centre that aims to transform knowledge into commercial success was opened this week by the Tβnaiste, Ms Harney, at Dublin City University.

The £7.3 million (€9.27 million) centre, Invent, was opened under the Enterprise Ireland business incubation programme. It already has three tenant companies, including wireless firm 3TL.

The university has set up a company into which it will put 5 per cent of the equity of Invent companies, which in the long term will benefit DCU and the patrons.