Guinness Enterprise Centre announces €10m expansion for Dublin
The pioneering Guinness Enterprise Centre (GEC) in Dublin, Ireland, is set for a major facelift as the stout brewer announced plans for a €10 million (US$11.3 million) expansion to the not-for-profit workspace.
The investment will almost double the size of the space, in which startups and small businesses can lease workspace and offices with all the mod cons needed to get a new business up and running.
The centre also acts as a collaboration hub which partners young business with some Guinness’s academic experts.
“Building on our success to date this expansion enables us to deliver on our vision to scale the GEC to be a global entrepreneurial super-hub, interconnecting the regional centres in Ireland with our global university partners and thereby supporting the creation of world-leading companies out of Ireland,” Guinness Chairman David Varian said in a statement.
“We look forward to the re-imagined GEC playing a catalytic role in the continued redevelopment of Dublin 8 and the promotion of Ireland as a place for entrepreneurial business growth.”
A planning application for the redevelopment was submitted to Dublin City Council last week and details the company’s plans to add two extra floors to the existing building.
According to Irish Times, the centre hosts 85 companies employing more than 400 people. Once completed, the expanded development will see the GEC becoming home to 160 startups with 750 employees. It will also have capacity for a further 220 co-working companies.
The GEC has done invaluable work in spurring the success of local business and was named ‘World’s Top Business Incubator Collaborating with University 2018’ at the UBI Awards and Recognition Gala ceremony in February last year.
Stockholm-based research and advisory firm UBI Global assessed and benchmarked over 1,300 incubators – and Dublin BIC-managed GEC came out on top.
The hub’s University Programme, an initiative involving collaborations with 23 of the top 50 best business schools in the world including Cambridge, Columbia, HEC Paris, Trinity College Dublin and UCD Smurfit, was a key factor in winning the coveted prize.
“Working with universities and third level institutions, not just in Ireland but globally, has been an integral part of how the GEC delivers added-value to our companies,” GEC Manager Eamonn Sayers said after receiving the award.
“Going forward, we are focused on expanding the programme further to other top business universities as well as regional centres and their start-ups across Ireland.”
Last week’s expansion announcement shows they’re following through on their promises.