DCU Alpha Presentation

7 OCTOBER 2016
REQUEST FOR SUBMISSIONS RESPONSE:
INVENT DCU LIMITED
INNOVATION PARTNER PROPOSAL
This document responds to the Request for Submissions from Invent DCU Ltd. (IDL) in respect to
DCU Alpha and the proposed role of an ‘Innovation Partner’ to assist in the delivery of a truly world
class university innovation hub that mirrors the vision articulated by Dublin City University.
EARLSFORT GROUP
___________________________________________________________
WITH CONSORTIUM PARTNERS
CROWDHIVE VENTURES

We have taken two decades of tech cluster development experience
and distilled it down into a comprehensive proposal for DCU Alpha.
Our proposal promptly delivers on all DCU Alpha’s core objectives.
§ We have proposed an entirely achievable funding and physical
development mechanism that will potentially deliver one fully
operational makerspace to TechShop within 12 months.
§ We propose a bold new concept that will rival Lassonde Studios
at the University of Utah. This unique facility building, operated by
CrowdHive, will provide 400+ students with an inspiring live-work
environment. The facility will be the only of its kind in Europe
giving DCU a significant first mover advantage over rivals in this
emerging category.
§ This presence of the TechShop and SRI facility will drive DCU
student recruitment and a corresponding increase in publicity.
This will lead to further demand for space from innovation focused
startups and multi-nationals keen to collaborate with DCU talent.
Our proposed delivery of a 200-desk co-working space will benefit
from this increased demand.
§ The corresponding increase in enquiries and demand for office
space could push up rents at the campus which would provide the
necessary conditions to support the third phase of our proposal -
lease pre-commitments and the delivery of over 148,000sqft of
brand new workspace facilities in a new and fully master planned
campus core.
EXECUTIVE SUMMARY
EARLSFORT CONSORTIUMDCU ALPHA PROPOSAL
The Earlsfort Consortium is a highly focused team of real estate
professionals, creative visionaries and experienced business
leaders who are passionate about and dedicated to innovation.
The Earlsfort team are very familiar with the Glasnevin campus, key
members having worked on the NSAI Metrology Lab during its
design/delivery by Scott Tallon Walker Architects back in 1995. We
returned a little over a decade later when talks commenced with
Enterprise Ireland on their relocation to East Point Business Park.
During this entire two decade period, right up to today, Earlsfort has
been working alongside global technology companies like Oracle,
Cisco and Google as they scale and evolve.
This exposure to growth and the evolution of huge tech companies
has given us a deep appreciation of the extraordinary power of
innovation and its potential to transform the world. We are extremely
excited and enthusiastic at the prospect of working alongside the
DCU Alpha team and getting to witness firsthand the hugely inspiring
work of Ireland’s newest entrepreneurs as they emerge.
We are completely aligned with DCU’s vision and ambition for the
innovation campus. Earlsfort value long term strategic decision
making over short term thinking motivated only by financial gain.
Our experience with DCU Alpha to date has been very positive and
we are eager to assist them in delivering their goals.

6. OUR APPROACH
7. OUR OBJECTIVES
8. THE MASTERPLAN
9. SUSTAINABILITY
10. BUILD SCHEDULE
1. OVERVIEW
2. DCU ALPHA TODAY
3. DCU OBJECTIVES
4. THE CHALLENGES
5. GLOBAL TRENDS
11. BUSINESS PLAN
12. FINANCIAL DETAILS
13. THE TEAM
14. MOVING FORWARD
15. APPENDICES
OPPORTUNITY RESPONSE EXECUTION
EARLSFORT CONSORTIUMDCU ALPHA PROPOSAL
TABLE OF CONTENTS

DCU ALPHA PROPOSAL EARLSFORT CONSORTIUM
The Earlsfort Consortium’s proposal presents a bold and rapid
response to profound changes taking place in technology,
demographics and urbanisation around the world. DCU’s
willingness to respond and adapt to these changes present it
with a game changing opportunity.
As higher education institutions face increasing pressures in national
and international student recruitment, the ability to offer students a
truly unique international experience and holistic education that
prepares them for the huge opportunities and harsh realities they will
face as they enter the global economy.
Long before Earlsfort’s first meeting with the leadership team at DCU
Alpha a lead member of Earlsfort Consortium was developing a
concept that combined coworking with living accommodation geared
towards students and millennials of an entrepreneurial bent. It was
only following a brief chat with Brian MacCraith in 2015 that the
mutual benefits became apparent.
The student residential incubator or SRI as we call it, will be
designed to attract students of an entrepreneurial mindset who are
looking to join a thriving international community of likeminded young
go-getters. Within this community they will find a champion, access
to mentors, investors and all the tools/resources they require to build
the next hot project or disruptive IoT technology.
OVERVIEW | 01

The refurbishment work on Innovation House has been extremely
effective. But before any work commenced there were some
inherent advantages: (i) the structure and services were in
reasonably good condition, (ii) it had some unique features worthy of
retaining (i.e. the auditorium) and (iii) with four floors over ground it
has a relatively high density for its location.
The same cannot be said for all the buildings at DCU Alpha and the
same success following refurbishment cannot be assumed. A
number of the buildings are nearing functional obsolescence and
unworthy of a costly refurbishment program. Furthermore density
levels at just one or two floors are poor – the campus would suffer a
significant opportunity cost if they were retained.
A case in point is the possible refurbishment of the Kettle Building –
we should ask does it make sense to refurbish this outdated, low-
density former industrial facility when it sits on land that could
potentially accommodate a new office structure with 4-5 floors?
IMAGE
Another important issue to consider is that of image. While DCU
Alpha correctly promotes itself as the home of cutting edge IoT
innovation and research in Ireland, the dated appearance of the
campus is not congruent with that message. A mishmash of old
buildings, lacking any obvious masterplan does not comes across as
cutting edge and risks causing certain innovation focused tenants to
overlook DCU Alpha as a location.
DCU ALPHA TODAY | 02
The team at DCU Alpha have done an outstanding job leasing
up Innovation House and all the other campus facilities. The
refurbishment and promotion has been very effective to date as
demonstrated by the rent levels achieved and quality of tenants
attracted.
Clearly the opportunity to co-locate with a research university is a
very attractive prospect to many entrepreneurs and multinational
corporations (MNC’s) with a particular focus on innovation.
The momentum is very encouraging, and as lease enquiries continue
to pour in there will be a big temptation on the DCU Alpha team to
quickly refurbish existing structures in response to demand. We
believe this response may be premature. In this section we examine
the various areas of the campus requiring urgent attention if DCU
Alpha is to meet its ambitious growth targets.
BUILDING CONDITIONS & DENSITIES
When refurbishing buildings there are a number of important issues
to consider:
§ Is the structure or its services approaching obsolescence - can it
be modernised or future-proofed in a cost effective manner?
§ Is the structure low-density and is there an opportunity cost in
retaining it when a much larger building could replace it?
§ Does the building have any unique feature worthy of retention
which outweigh the two negatives?

Meanwhile a newly refurbished Services Building would bring circa
27,000 sqft. of net lettable office online. This would accommodate
approximately 250 people.
These three buildings combined would house up to 850 people which
clearly falls short of the target number.
Figure 1. existing accommodation
CAR PARKING
Car parking is an issue for all business campuses and DCU Alpha is
no exception. One of the most obvious design flaws in the layout of
the campus is the dominance that car parking has over almost all
open spaces. Areas that could be used for social gatherings are
clogged with cars which reduces chance interactions that can lead
to collaboration.
DCU ALPHA TODAY | 02
ERGONOMICS
The lack of an overriding masterplan creates an issue around
ergonomics. The aim of the university is to create a hub that
facilitates the interaction of entrepreneurs and MNCs with DCU
talent, but the campus currently betrays this aim. A well considered
masterplan could integrate landscaped outdoor social spaces into the
campus whilst optimising available space, creating collaboration
spaces and shifting the car parking to less visually intrusive
locations.
AVAILABLE SPACE
DCU Alpha currently accommodates 35 innovation focused
companies generating 350 high-tech jobs. The stated target is to
grow this to 100 companies and 1,000 high-tech jobs. In order to
achieve this, space for another 650 people will be required equating
to circa 65,000 sqft. of net office accommodation.
When the refurbishment of Innovation House is complete it will add
approximately 17,000 sqft. of office space to the campus – this can
house about 150 people.
An additional 13,000 sqft. of office can be brought online through the
refurbishment of the Materials Building – the floor plates in this
building are less efficient so its likely to accommodate no more than
100 people.
Building GIFA (gross) NLA (net) Jobs
Innovation House 82,568 52,125 500
Materials Building 17,336 13,329 100
Services Building 36,331 27,249 250
Total 136,235 92,703 850

A TRANSFORMATIONAL OPPORTUNITY AND APPROACH
The market soundings exercise presents a game changing opportunity for Invent DCU Ltd.
to completely overhaul and modernise the existing innovation campus, transforming it into
a world class university innovation hub.

DCU ALPHA PROPOSAL
The capital cost of establishing a TechShop is approximately €2.5m
split 50/50 between building fit out and equipment purchase. Dublin
City Council has agreed in principle to financially support this.
CO-WORKING
Co-working is the style of work that involves a shared working
environment and independent activity. Typically, it is attractive to
work-at-home professionals, independent contractors, startups (who
are not being adequately catered for in the current Dublin office
market due to high rents or inflexible lease terms), or people who
travel frequently and they want to access a chain of co-working
spaces across multiple cities.
More recently co-working has become a preferred solution for
larger companies who want their staff exposed to disruptive
technologies and business models. Co-working is also a social
gathering people of a group of people who are still working
independently, but who share values and interests, and who are
interested in the synergy that can happen from working with people
who are active in the same broad sectors (such as connected
hardware, IoT, data analytics etc).
It is intended that DCU Alpha will be the home of a c. 200 desk co-
working space managed by an existing established operator who see
the value in co-locating alongside a university, a large population of
students, a TechShop and an existing cluster of ‘scaling’ tech
companies.
DCU OBJECTIVES | 03
DCU Alpha are seeking to accelerate the development of the
campus and take advantage of the sites ability to accommodate
a significant quantum of new development (across office,
student enterprise/accommodation, research, lab, maker spaces
and coworking space).
The only strict parameters/limitations on the RfS are:
§ Innovation House to be kept intact.
§ A hiatus between full occupancy of existing stock and roll out of
new stock must be avoided.
§ A physical development mechanism needs to be founds through
which to deliver TechShop in the near term.
DCU Alpha’s vision also outlines some core pieces of innovation
infrastructure that would enhance the cluster:
MAKER SPACE
A core component of the DCU Alpha vision is the provision of a
commercial makerspace and rapid prototyping facility which would
be operated by the US company ‘TechShop’.
‘TechShop’ is an open access commercial maker space operator.
They provide high-end prototyping and digital manufacturing tools
and equipment to entrepreneurs on a monthly subscription basis.
DCU Alpha has agreed a deal in principle to locate TechShop Dublin
on the DCU Alpha campus.
EARLSFORT CONSORTIUM

One of the biggest challenges facing DCU Alpha will be finding the
delicate balance between short term requirements and long term
strategic needs or ambitions. The real estate sector and the
technology sector are not always aligned and can frequently be
diametrically opposed – there will be many challenges ahead.
DEVELOPMENT CHALLENGES
§ The desire to avoid a hiatus between full occupancy of existing
stock and roll out of new stock presents a particular challenge
when state-of-the-art facilities can take up to 3 years of planning
and construction to deliver.
§ The intended delivery of a circa 200 desk co-working space
managed by an existing established operator will present both an
accommodation challenge and an economic challenge.
A large 200-desk co-working space would immediately absorb 12-
15,000sqft. of office space without any guarantee that the desks
will be fully occupied - we do not believe the campus has reached
the required critical mass to support this desk quantum yet. It
would reduce the space available to other companies seeking a
private office and bring the undesired hiatus forward.
Furthermore the larger co-working operators such as WeWork
understand the power of their brand and typically seek substantial
landlords incentives when considering non-prime locations. It is
highly likely an operator would seek a rent-cap or fit out allowance
to cover slow take-up.
THE CHALLENGES | 04
As the name ‘Innovation Partner’ implies, this role goes beyond
the traditional real estate development partner. DCU Alpha are
looking for a certain type of development partner who
understands and/or has experience in the creation of
technology clusters, science parks or university innovation
ecosystems.
DCU Alpha are seeking a partner that understands the vision being
pursued and have the wherewithal and desire to participate in the
delivery of that vision. Namely to design and develop DCU Alpha as
a world-class innovation hub.
The Earlsfort Consortium has a deep appreciation of the value and
impact innovation will have on the world. We have a thorough
understanding of all aspects of the real estate development
business and specifically how it relates to the technology sector.
This gives us a unique insight into the various challenges facing DCU
Alpha and the kind of creative thinking that will be required to achieve
their vision.
Earlsfort Group, is responsible for Ireland’s leading technology
campus East Point Business Park, we have almost two decades of
experience from design and master planning, to financing, delivery,
leasing and ongoing day to day management of a highly successful
technology cluster. East Point is currently home to Enterprise
Ireland, Oracle, Cisco and Google to name but a few – nobody
knows this particular market sector better than us.

THE CHALLENGES | 04
§ Providing short-term flexible leases to attract tech startups
presents a challenge because real estate asset valuations are
based on metrics that reward long term income from established
tenants.
§ The existing facility buildings within the campus are outdated in
terms of insulation & sustainability standards which result in low
LEED or BREEAM rating. This can make buildings less desirable
to larger corporates.
§ The prevailing student accommodation rates being charged by
DCU in the main campus present a huge challenge insofar as
these levels are not economically viable for a newly developed
high-quality and bespoke facility.
INNOVATION CHALLENGES
§ Financial sustainability is a major issue for existing innovation
hubs with management frequently preoccupied with fund raising
activities to stave off closure or downgrading of services.
§ Widespread collaboration between DCU talent and industrial or
corporate partners will not just magically happen. This could be a
particularly challenging aspect of the project.
§ Millennials view the world very differently to previous generations.
Most of the decision makers in this process are most likely to be
non-millennials, which could present a challenge in the form of
resistance to new concepts or business models.

“One of the largest generations in history is about to move into its prime spending years. Millennials
are poised to reshape the economy; their unique experiences will change the ways we buy and sell,
forcing companies to examine how they do business for decades to come.”
- Goldman Sacs, Global Investment Research

GLOBAL TRENDS | 05
The profound changes in technology and communications over
the past decade have resulted in a radical shift in how young
people view the world. The idea of finding a ‘steady job’ is a
strange and outdated concept to the vast majority of millennials
today. A large segment of this demographic are inspired by
entrepreneurial success and determined to make their own
unique mark on the world.
The speed, cost and ease at which entrepreneurs can introduce a
product or service to the market along with promoting and distributing
it at scale is resulting widespread disruption across virtually every
aspect of life and work today. Startups established less than a
decade ago are reshaping entire industries and vanquishing long
established corporations who held seemingly unassailable market
positions.
The rate of change and disruption is increasing and will be a fact of
life in the coming decades as new platforms and technologies come
on stream – crowdfunding, crowdsourcing, the sharing economy,
robotics, 3D printing, artificial intelligence, drones, sensors, the
internet of things, cloud computing, smart phones, wearable devices,
broadband & cellphone penetration across the developing world.
Each of these innovations alone has the power to affect massive
change, but it is the convergence of all these together at one time
that will bring about the most profound disruption.

GLOBAL TRENDS | 05
This new world of abundance and opportunity has not been lost on
the emerging millennial market who were born into this digital age
and can respond to it rapidly. They can hardly remember a world
without Facebook, let alone imagine it without email or mobile phone.
They value experiences over material goods and will avoid buying
something when they rent or ‘share’ it instead.
The same technological advances that have rocked industry are
placing new demands on higher education. Universities are facing
an unprecedented challenge to redefine their purpose and role in
society. In response to this there is a global trend towards the
establishment of the ‘Entrepreneurial University’ which offers a
variety of innovation initiatives including collaboration between
students/researchers and industry partners.
Universities in the US have been quick to respond to these
challenges and interesting new facilities have recently begun to
emerge. The ‘student residential incubators’ is one such facility
where they integrate student living accommodation with a large
collaboration/coworking space specifically designed to facilitate
entrepreneurship and interaction amongst students.

“Innovation is the effective conversion of knowledge and creativity into
societal and economic benefit”.
- Briain MacCraith, President DCU

Successfully recruiting millennials with an entrepreneurial bent will
mean the difference between success and failure in respect to DCU’s
‘foster collaboration’ goal. Consequently our approach has been to
meticulously focus on the creation and maintenance of the optimal
conditions needed to recruit and retain millennial entrepreneurs who
will be essential to support a thriving university innovation hub. Our
‘secret weapon’ is the student residential incubator (SRI).
We have assembled a multi-disciplined team of professionals from a
range of industries serving different client-types and demographics.
This range of complementary skills and expertise gives us an edge
over other developers. We understand the many challenges ahead
and have the drive to deliver a world-class solution.
The consortium partners comprise:
§ Earlsfort Group (real estate development)
§ CrowdHive Ventures (student residential incubator)
The service delivery partners include:
§ Jan Van Dijk Architects (masterplan)
§ Kradyl Consulting (innovation experts)
§ Effector (digital marketing & student engagement)
§ Hatch Student Ventures (student accommodation)
OUR APPROACH | 06
The market soundings exercise presents a ‘game changing’
opportunity for Invent DCU Ltd. to completely overhaul and
modernise the existing innovation campus, transforming it into
a world class university innovation hub.
The creation of a thriving university innovation hub requires a lot
more thought and consideration than a typical technology cluster –
‘The whole is greater than the sum of its parts’. Simply combining
office accommodation near public transport links, with high quality
communications infrastructure, good F&B facilities and adequate car
parking does not guarantee you a collaborative atmosphere. As we
discovered at East Point, a seemingly harmless facility like a staff
canteen can have quite a detrimental impact on interaction and
collaboration.
The typical tech cluster attracts tenants whose staff come to work
each day to collect a salary. A university innovation hub is different
insofar as it must also recruit students and researchers who are not
paid to show up – they have to want to be there. Without this critical
demographic segment the hub will fall short of its primary ‘foster
collaboration’ goal which seeks to facilitate interaction between
university talent and industry/corporate partners.

Figure 1. proposed accommodation
MAKER SPACE
Our proposal is designed to deliver the maker space immediately
(phase 1) in the newly refurbished and extended Services Building.
TechShop will occupy the entire ground floor and half of the first floor
giving them up to 17,500sqft.
By placing the TechShop in this building we deliver on two important
objectives – (i) we create the new space quickly without sacrificing
quality development land needed to masterplan and optimise the
campus; (ii) we fully integrate TechShop into the adjoining student
residential incubator to facilitate the highest possible usage by
students and encourage extensive collaboration with innovators.
OUR APPROACH | 06
Our approach addresses and delivers on all of DCU Alpha’s core
objectives and required innovation infrastructure:
INNOVATION HOUSE
Our proposal keeps Innovation House intact as required. The only
impact the consortium could make is to lease some of the third or
fourth floor to commence co-working/collaboration operations.
AVOID HIATUS…
Our proposal is designed to balance short terms accommodation
requirements with longer term strategic benefits stemming from
implementing a carefully considered masterplan that integrates
modern new facilities with existing buildings and substantially
increases the total accommodation available.
In the immediate term (phase 1) we will deliver c. 43,000sqft. gross
of new space by refurbishing and extending the Services Building.
Over the longer term we will deliver up to 148,000sq.ft gross of
office space in 4 entirely new buildings, replacing the Kettle Building,
the Materials Building and the Environmental Building.
Building GIFA (gross) NLA (net) Jobs
Innovation House 82,568 52,125 500
Services Building 43,000 34,500 310
Entrepreneurship Hub 20,000 16,000 200
4 new Buildings 148,000 118,400 1,180
Total 293,568 221,025 2,190

TECHNOLOGY ACCELERATOR
Our approach would be to reach out to entities like PCH with a view
to securing them - the Highway 1 model would be an awesome
addition to the planned innovation infrastructure and greatly enhance
DCU Alpha.
UNTAPPED OPPORTUNITIES
This is an innovation partnership so our approach would be to
work very closely with the DCU Alpha team to identify and exploit as
many untapped opportunities as possible.
Some initial ideas would be to make DCU Alpha a test bed for new
products from utility companies. With all the new accommodation we
are proposing, the campus would have a critical mass that could be
extremely useful to these service providers for beta-testing purposes.
This may also tempt utility companies into leasing space to establish
a local innovation department.
All new buildings would be designed to facilitate the easy installation
of hundreds of new IoT sensors and products being developed
within DCU by young innovators and /or tenants. Having access to a
range of office and residential accommodation for product testing
may prove very useful to the startups in those fields.
The campus existing district heating system is outdated. A new
system could be installed that provides testing opportunities to
energy companies. We would seek to have it installed at or below
cost in return for giving testing rights.
OUR APPROACH | 06
CO-WORKING SPACE
Our proposal includes the student residential incubator (SRI), the
ground floor of which would feature a large entrepreneurship hub of
circa 20,000sqft. This space will double up as a 200-desk coworking
space ideal for collaboration and featuring hot desks, fixed desks,
community tables, relaxed seating clusters, event space, meeting
rooms, class rooms, telephone boxes and lockers.
The typical daily movements of students (in class from 9-5) will leave
the student co-working/collaboration space empty for much of the
morning and early afternoon. This gives us an opportunity to open
up the space to non-students who would have access during those
quieter hours. This group will be made up of industry partners,
corporate innovation teams, entrepreneurs, freelancers,
professionals, independent contractors and startups looking for
flexible desk space and an opportunity to collaborate with DCU
students and researchers.
The SRI would be operated by CrowdHive Venture Ltd. In addition to
managing the physical building they would curate a community of
members (student & non-student). CrowdHive is currently developing
a technology platform that will support an online community and
connect members with mentors and investors. The platform will
also be capable of connecting students with industry partners to
encourage innovative collaboration. There will be a focus on IoT
product development and disruptive technologies – in time a
fundraising module will be added to the platform to champion ideas,
products and services by ‘student members’.

The consortium partners have different sets of objectives:
NEW OPPORTUNTIES
Earlsfort Group acquired valuable skills and expertise during the
development and management of East Point Business Park. With
the park now built out and fully leased up we will continue to manage
its day to day operations, but our focus has turned to finding suitable
new opportunities that will allow us to scale and leverage our
development expertise.
East Point comprises 1.5m sqft. of office accommodation which is
predominantly occupied by technology companies - clearly our skills
are highly relevant and very useful to DCU Alpha. Apart from the
obvious business opportunity there is the potential for cross
fertilisation – the swapping of new ideas and concepts that may also
benefit East Point.
Earlsfort itself recognises the value of access to talent from a major
research university – an opportunity to enter into a joint venture with
DCU Alpha opens up that access. The same could be said for the
team at DCU Alpha – a JV with Earlsfort opens up the possibility of
access to our many corporate tenants at East Point. We could use
our relationships and influence to build innovation programs and
other initiatives between East Point and DCU Alpha or indeed the
main university.
STUDENT RESIDENTIAL INCUBATOR (SRI)
The concept of a ‘student entrepreneurial accommodation model’
was initially introduced to DCU Alpha by Earlsfort Group in 2015. The
idea first came about as a means of infusing a more vibrant
innovation friendly atmosphere into East Point – an attempt to
capture the youthful energy and excitement present at Hackathons
and Startup Weekends. This idea was subsequently validated when
it emerged that the University of Utah was in the process of doing
something very similar with its Lassonde Studios.
The accolades and publicity Lassonde Studios has received, along
with the hugely positive feedback from students and millennials
convinced Gavin Gallagher to establish CrowdHive Ventures. We
believe the concept can be commercialised and we believe Dublin
is the ideal market to develop the concept prototype. The objective
for CrowdHive is to transform the concept into a successful business
model that can be scaled internationally. DCU would be the exclusive
university partner of CrowdHive within the Irish market.
CrowdHive has assembled a very capable and experienced group of
strategic partners to develop and operate the business. The team,
many of whom have ties to DCU are highly motivated to deliver a
truly unique student entrepreneurship experience to DCU Alpha.
CrowdHive would act as a pipeline into the DCU Ryan Academy and
other DCU run enterprise programs. We believe the presence of the
SRI facility at DCU Alpha will undoubtedly give Dublin City University
a competitive edge over their university peer group and drive student
recruitment with zero risk or capital outlay.
OUR OBJECTIVES | 07

“Universities are Increasingly aware that they must graduate engineers who
not only understand science and technology, but who are also able to identify
opportunities, understand market forces, commercialize new products…”
- International Journal of Engineering Education Vol 28, No. 2, 2012

THE MASTERPLAN | 08
Our masterplan is a carefully considered response to the various
challenges outlined in the earlier chapters.
EXISTING FACILITIES
The existing facilities range from large efficient structures in good
condition to small industrial facilities nearing obsolescence and
unworthy of refurbishment. Where practical we propose to retain
existing buildings, however this has not been possible for most of the
smaller, low-density facilities.
We propose to refurbish and extend the Services Building in order to
maintain a steady supply of lettable office space in the campus.
Were it not for the time lag between seeking planning permits and
moving into newly completed buildings we may have opted for a
higher-density building at this location. We believe it may be possible
to add an additional floor onto the Services Building but this would
need to be studied carefully.
§ Innovation House – no impact whatsoever.
§ Services Building – refurbished and extended.
§ Timber Building – no impact whatsoever.
The masterplan is designed to take certain building offline only after
new space has been delivered to rehouse those tenants affected.
For example the Services Building could rehouse the tenants
affected by the demolition of the Metallurgy Lab and Cubes Building.
This would be required to make way for the new facilities.
NEW FACILITIES
The SRI would accommodate 415 students in total. The ground floor
would feature a large entrepreneurship hub of 20,000sqft. which
doubles up as a 200-desk co-working space. This block is to be built
right next to the newly refurbished Services Building - the ground
floors of both buildings would be carefully integrated to connect the
TechShop with the entrepreneurship hub – a feature designed to
maximise student-industry collaboration.
Over 148,000sqft. of new office space would be delivered across 4
new innovation blocks ranging in size from 27,000sqft. to 45,000sqft.
These have been designed to be delivered on a phased basis to
minimise disruption to existing tenants. Block A alone is capable of
rehousing all existing tenants affected from the demolition program.
The floor plates range in size from 5-9,000sqft. which is ideal to
scaling companies and the innovation departments of MNCs.
§ Block A – 27,000sqft.
§ Block B – 33,000sqft.
§ Block C – 43,000sqft.
§ Block D – 45,000sqft.
The masterplan features a ‘central plaza’ designed to give the
campus a new processional route and focal point that ties the
facilities together. This pedestrian space would visually connect the 4
new innovation blocks with the SRI to encourage collaboration. The
plaza would also feature outdoor furniture designed to facilitate
chance interaction between students and industry partners.

SUSTAINABILITY | 09
It is our view that all developments should make a meaningful
contribution to the location in which they are built both socially,
economically and environmentally.
OUR SUSTAINABILITY PHILOSOPHY
Not only should buildings comply with all regulations but they should
exceed standards in all areas where this is both practical and
economical both to the developer and the end user. How far
individual measures can be taken is dependent on a large number of
factors including building and planning legislation, budget and site
constraints.
DCU SUSTAINABILITY
Our philosophy is closely aligned with that of DCU:
“demonstrate on campus innovative schemes to embed sustainable
measures across campus that will provide financial savings while
also reducing our carbon footprint”
- ‘sustainable campus’, DCU website
The Earlsfort Consortium will work closely with DCU Alpha to
achieve efficiencies and reduce operational costs across the
campus. Lowering the impact on natural resources and adopting
sustainable practices in areas of energy consumption, water usage,
biodiversity enhancement and waste generation.
- ‘Circles of Sustainability’, The United Nations

The SRI has been designed to allow its construction to be phased to
permit the retention of the Rodgers Building for a longer period if
required. Another benefit of the SRI is its low impact on car parking
within the campus as student residents will mostly not require
parking.
SCHEDULE - PHASE 3
Phase 3 can itself be broken into different phases depending on
demand. Block A with its 27,000sqft. could quickly be delivered but
Block B would not commence until demand is certain. This phasing
would allow the NIIT Building to remain in operation for a period if
desirable.
The benefit of this phasing is that Block B delivers ample office
space to accommodate all the tenants in the Materials Building when
it and the Environmental Building are finally cleared to make way for
Blocks C and D.
Development Site B could be retained as car park in the medium
term with the option of adding a deck to double capacity. In due
course the site could accommodate a large facility building but our
focus would be on optimising the core campus before starting on the
outer site.
BUILD SCHEDULE | 10
Our proposal has been structured to rapidly deliver the funding
and accommodation required to permit TechShop to commence
operations at DCU Alpha.
SCHEDULE - PHASE 1
The first phase of the proposal would involve the refurbishment and
fit out the existing Services Building for TechShop Dublin. The works
would require a planning application for the extension and recladding
of the building. The design will complement and integrate the new
SRI building so the planning process for both would run concurrently.
Once started, the refurbishment could complete within 6 months at
an approximate cost all-in of €3m. The primary goal of Phase 1 is to
get TechShop up and running and the SRI planning process started.
The completed Services Building would also provide c. 13,000sqft. of
net additional workspace to DCU Alpha.
SCHEDULE - PHASE 2
The development of the SRI will deliver up to 415 student beds to the
campus, while the entrepreneurship hub will deliver a new and state-
of-the-art co-working space of up to 200-desks. It is anticipated this
building would take 18 months to build following receipt of planning
permission. This building alone will transform the atmosphere of the
campus and significantly increase interaction between students and
industry partners.

“University of Utah unveils $45m entrepreneur institute”
“Molded after offices of Silicon Valley companies, it is part of a nationwide trend of colleges and
donors spending millions on institutes aimed at stirring up innovation by pairing bright young minds
together in a collaborative environment”
- Brady McCombs, Associated Press

We propose a straightforward but symbiotic commercial
agreement with Invent DCU Ltd (IDL) that will deliver a
substantially enhanced and future-proofed campus with
minimised risk.
Our proposal significantly lowers IDL’s risk exposure while at the
same time giving them continued autonomy over a significant portion
of their asset portfolio and a growing rental income. Phase 1 and 2
as described in earlier chapters do not require a joint development
entity to be formed. It is only when we get to Phase 3 that a joint
entity is required.
IDL ASSET PORTFOLIO
§ We propose no change to IDL’s full control and ownership over
Innovation House and its income (multi-tenanted).
the Service Building (currently vacant).
the Timber Building (Exergyn).
Vacant possession will eventually be required in all the remaining
buildings within the campus so they can be cleared to make way for
the development of new facilities. However the phasing of the
development is designed to allow all existing tenants to be rehoused
within the new facilities as they come online.
CAMPUS MANAGEMENT
We are uncertain as to the current campus management
arrangement. Assuming IDL is directly funding operations we
propose that a new campus management company be formed that is
responsible for the day to operations of DCU Alpha.
This entity would levy service charge contributions on each tenant
which would go towards an annual budget used to fund the operating
expenditure of the entire campus – insurance, security, landscaping,
innovation initiatives, public relations, etc.
The company could be run by a management committee made up of
members of the DCU Alpha team and Earlsfort Consortium. They
would meet on a regular scheduled basis to agree budgets, ways to
enhance the campus and establish a sinking fund to cover large
future capital expenditure such as landscaping, road resurfacing,
new entry systems, etc.
The purpose of setting up a new company is to create an equitable
split of responsibility between the joint owners of new assets built
inside the campus. It would be unfair for IDL to continue to fund
campus maintenance and operations exclusively after such a change
in ownership structure.
The various tenants in each building, regardless of ownership, would
be levied an amount based on their net floor area. There would be an
annual budget meeting where management present the budget to
tenants, this is also an opportunity for tenants to raise issues, make
suggestions. This system works well at East Point.
BUSINESS PLAN | 11

We propose that the Earlsfort Consortium (assuming selected as
‘Innovation Partner’) immediately lodge an application for planning
permission for the development of the SRI. The application would
include proposed works to the Services Building.
Earlsfort would seek written support from DCU Alpha and the main
university when making this application to ensure it is well received
within Dublin City Council. Upon receipt of a satisfactory grant of
permission Phase 1 would immediately kick into action.
DEVELOPMENT - PHASE 1
§ We propose the Earlsfort Consortium would match the €500k
funding commitment from Dublin City Council (Economic
Development Budget) in support of TechShop Dublin.
§ We propose the Earlsfort Consortium manage and fund the
refurb of the Services Building (estimated at c. €3.0m).
§ The Earlsfort Consortium professional team would coordinate
closely with TechShop to ensure adequate mechanical and
electrical specifications for their operation.
Following completion of Phase 1 Invent DCU Ltd would enjoy full
ownership and control over a fully refurbished and extended Services
Building with TechShop Dublin in occupation. This proposal also
gives IDL complete autonomy over the rent levels and incentives
they may wish to offer TechShop.
§ We propose that in return for fully funding the refurbishment and
extension of the Services Building and providing matching funding
of €500k for TechShop that the Earlsfort Consortium be granted
development rights over ‘Development Site A’.
§ Whilst managing the Services Building refurbishment, the
Earlsfort Consortium would proceed to commence with the
development of the SRI.
§ We propose that Earlsfort Consortium fully fund the SRI
development and ultimately retain full control and ownership of
this asset and its income.
§ IDL would be fully protected and ring fenced from any exposure to
development risk in the construction of the SRI.
§ We propose that the 4 new innovation blocks envisaged in the
masterplan are developed jointly by Earlsfort Consortium and IDL.
§ A special purpose vehicle or vehicles would be incorporated for
the purpose of the development.
§ A prudent commercial and risk managed approach would be
taken in the development of each innovation block.
§ We propose that Earlsfort Consortium in consultation with IDL
would decide the timing of commencement on each development
but that IDL would have a veto over that timing.
§ Each block would be anchored by a quality lease commitment to
underwrite risk – the precise criteria to be discussed/agreed.
BUSINESS PLAN | 11

GOVERNANCE
§ We propose that Invent DCU Ltd and the Earlsfort Consortium
incorporate a special purpose vehicle/s to jointly develop the 4
innovation blocks proposed in the masterplan.
§ Key team members from DCU Alpha and Earlsfort Consortium
would be appointed members of the board of the special purpose
vehicle/s (development entity).
§ The directors would meet on a regular scheduled basis to discuss
lease enquiries, development issues and innovation initiatives.
§ Meetings would include brainstorming sessions on how to
optimise the campus or better serve tenants – discussions around
moving or rehousing tenants as they scale and seek larger
facilities (a true partnership approach).
RESOURCE REQUIREMENTS
§ The Earlsfort Consortium are required to provide their expertise
and equity capital. Invent DCU ltd are required to provide the land
needed to develop the proposed facilities.
§ In the case of jointly owned facilities (i.e. the 4 innovation blocks)
the land needed to develop each innovation block will include the
curtilage around it for parking, landscaping, footpaths, etc.
§ A reputable third party chartered surveyor would be appointed to
determine the value of each of each development site.
§ The valuation assigned to the site would be considered DCU’s
contribution into that development deal (DCU equity).
§ The Earlsfort Consortium will invest the required equity capital
into each deal to satisfy the financial institution providing debt.
§ A prudent quantum of leverage would also be used to finance the
development of each innovation block.
§ The value and proportions of equity invested by each party into
each deal would be used determine the ownership or profit share.
RISK MANAGEMENT
The Earlsfort Consortium have worked on joint ventures with different
state controlled and semi-state entities so we are familiar with risk
management and the associated decision making processes.
§ We propose that IDL enter into a framework agreement with the
Earlsfort Consortium for the development of DCU Alpha.
§ The Earlsfort Consortium will work with IDL leadership and the
DCU Alpha to deliver a workable framework which covers off all
IDL concerns with regard to risk and its management.
§ The Earlsfort Consortium have a successful track record in
development and risk management has been a factor in that
success – we are familiar with the many shapes risk can take in
this business: market risk, leasing risk, construction risk, funding
risk, reputational risk, pricing risk.
§ We would propose that risk management is an agenda item for
each of the regular scheduled management committee meetings
between the Earlsfort team and DCU Alpha.
BUSINESS PLAN | 11

MARKETING & LEASING
The Earlsfort Consortium have 2 decades of commercial leasing and
marketing expertise and relationships. We propose both teams meet
on a regular scheduled basis to review tenant requirements and any
upcoming changes that have been flagged.
As is the case in East Point, a business campus that caters to
technology companies is constantly undergoing change. Tenants are
both scaling and shrinking, their parent companies may be the
subject of an acquisition which could see them expand or perhaps be
subsumed into another office location.
Staying on top of this is important so regular meetings with tenant
allows us to stay one step ahead – knowing one tenant needs to
expand whilst another is looking to shrink allows us to dynamically
manage the cluster. In this regard an open, information sharing
relationship built on trust is essential.
An important consideration with this project will be effectively
marketing to millennials who are a major component of our target
market. Our strategic partnership with Effector will assist us in
ensuing we have this segment of the market covered.
BUSINESS PLAN | 11
We would propose that CrowdHive Ventures Ltd manage/operate the
completed SRI (both co-working space and residences). CrowdHive
will provide a state-of-the-art facility and world class experience to
DCU student residents. The entrepreneurship hub will be a unique
experience for enterprising students as it will provide them with real
time access to entrepreneurs and innovators building products and
services in the co-working space. Events will be run in the evening
that encourage students to mingle and interact with non-student
members. A huge feature of the CrowdHive offering will be its online
community.
SRI – TECHNOLOGY PLATFORM
§ CrowdHive are developing an technology platform that will
provide SRI members with access to an online community.
§ The technology platform will include an access and maintenance
module that allows residents to access their room and report
repair or maintenance issues from their smartphone.
§ Other features will include messenger and online access to handy
services such as cleaning, laundry and food delivery.
§ The platform will also feature online resources for budding student
entrepreneurs such as online access to mentors, investors, media
content such as interviews with business leaders, inspiring talks.
§ It is intended that the platform will eventually incorporate a
crowdfunding module that allows members to pitch ideas and
products to angel investors.
§ The platform is being designed by millennials, for millennials.

SRI – STUDENT RESIDENCES
§ The student residences we are proposing have a host of features
that would make them truly unique and befitting a tech campus
dedicated to innovation.
§ The RfS states that any proposed student accommodation needs
to be curated by the main university and backed by an agreement
to lease - strictly speaking this presents difficulties.
§ The entire student experience that will be built around the SRI will
be unlike anything else in the country – this is the reason we
propose CrowdHive as the manager/operator.
§ The SRI as proposed is not a typical student accommodation
building and as such it would be uneconomic to develop if the
prevailing DCU accommodation rates were to be imposed.
§ The proposed Agreement to Lease of the accommodation by
DCU is possible but CrowdHive would require the freedom to set
their own accommodation rates – a portion of this will fund the
core operating costs of the entrepreneurship hub.
§ The Lassonde Studios facility at the University of Utah has set a
precedent for this - its rates are 40-90% higher than the rates for
standard accommodation in the main university.
§ We propose to build a close symbiotic partnership with the main
university to carefully curate the student resident community –
DCU students would have exclusive use of facilities but selection
would be based on criteria to be discussed/agreed.
§ The SRI’s success will depend greatly on how the community is
curated – its important that potential pressure for accommodation
does not force the main university to open the SRI up to students
who may not benefit from living there.
BUSINESS PLAN | 11
SRI - ENTREPRENEURSHIP HUB
The entrepreneurship hub is designed for use by non-student and
student members. Its aim is to facilitate chance exchanges through
shared use of the space and collaboration initiatives arranged by
CrowdHive.
§ We propose a 20,000 sqft. co-working/collaboration space linked
to the TechShop that would feature hot & fixed desks, community
tables, breakout spaces, relaxed seating clusters, event space,
meeting rooms, class rooms, telephone boxes and lockers.
§ CrowdHive would run an active event calendar that includes
speaker events, pitch nights, hackathons, startup weekends, the
annual BBQ, a weekly CoderDoJo meetups, etc.
§ CrowdHive would work closely with the DCU Ryan Academy to
ensure students have access to training programs, etc.
§ We propose the installation of a basic media lab to give students
facilities to create media content for promoting products.
§ The entrepreneurship hub would feature a large flexible event
space that could be used for various events.
§ CrowdHive would act as a pipeline into the DCU Ryan Academy
and other DCU run enterprise programs.
§ CrowdHive have a strategic partnership with Kradyl Consulting
who have expertise running innovation centers internationally.
§ The long term CrowdHive vision is to expand internationally
forming similar relationships with other universities.

BUSINESS PLAN | 11
EXIT STRATEGY
The Earlsfort Consortium are keen to develop a long-term symbiotic
relationship with DCU Alpha that would extend beyond the 3-5 year
development program that is envisaged. As is the still case in our
experience with East Point Business Park, we find ourselves as
active today as we were just after completion. Technology clusters
are dynamic things that are constantly undergoing change.
In the event IDL or DCU Alpha take a different view and would prefer
complete autonomy over the jointly held assets, then we would be
prepared to agree some form of put and call option over our interest
in the innovation units that is triggered on say the expiry of the tenth
anniversary of the formation of the Innovation Partnership.
In the event IDL or DCU Alpha are a seller we would propose either
the joint appointment of an agent to dispose of the assets.
Alternatively IDL may prefer a swap of joint ownership of one asset in
return for complete ownership over another. We are flexible and
have a reputation for straightforward dealings.
The exit scenario would not apply to the student residential incubator,
however as we would have completed control and ownership over
the asset. However we might be prepared to offer a first right of
refusal to IDL in the event we wanted to dispose of this asset.

“Millennials are going to make major shifts in corporations over the next decade, by 2025, millennials
will account for 75% of the global workforce”
- Dan Schawbel, Forbes U30 Contributor

The Earlsfort Consortium proposes a quick fix to DCU Alpha’s
need for both the physical space and financial means to
promptly deliver TechShop and fully fund the refurbishment of
the IDL owned Services Building.
Thereafter we propose to fund, deliver and operate a unique student
experience through the SRI. Our proposal also envisages a joint
venture approach to the development of 4 much needed workspace
facilities with office accommodation, R&D space and labs for use by
tenants and the main university.
EQUITY COMMITMENT
Earlsfort Consortium are prepared to make a substantial equity
commitment to the development of DCU Alpha. Our commitment is
structured to support the project on a phased basis with drawdown
as certain milestones are achieved.
Phase 1
§ €500,000 to match Dublin City Council’s funding support of the
proposed equipment purchase for TechShop Dublin.
§ €3 million to fund the refurbishment and extension of the existing
Service Building – this will include the TechShop fit out.
§ This commitment is subject to receipt of an acceptable planning
permission for the SRI.
§ The timing of this commitment is subject to the decision process
at the Dublin City Council Planning Department. Theoretically a
decision could issue 8 weeks after the application is submitted.
Phase 2
§ €20 million of equity to develop the SRI facility.
§ This commitment is subject to acceptable terms & conditions with
DCU regarding the management and operation of the SRI.
§ This commitment is subject to acceptable terms from a financial
institution for the required development finance to complete work.
§ The timing of this investment is based on project scheduling, we
would hope to commence immediately upon grant of planning.
Phase 3
§ €5 million of equity to develop Block A of the innovation units.
§ This commitment is subject to receipt of an acceptable grant of
planning permission for the building.
§ This commitment is subject to acceptable terms from a financial
institution for the required development finance to complete the
work.
OTHERS FORMS OF EQUITY
The Earlsfort Consortium equity commitment for Phase 3 will be
combined with land equity provided by IDL. Each building would be
built on land within DCU Alpha that has been provided by IDL at a
pre-agreed level set by an independent valuer.
FUNDING SOURCES
In addition to capital invested by the consortium partners. There are
many funding sources available in the market, from senior debt to
mezzanine funding.
FINANCIAL DETAILS | 12

OPERATIONAL FUNDING
The campus running costs can be recovered easy from a service
charge contribution levied on each tenant within the campus. This is
standard practice. The running costs of multi-tenant buildings would
be covered in a similar way with a building service charge budget
that is kept separate to the campus service charge.
The running of the 24hrs entrepreneurship hub with its co-working,
collaboration and innovation centre will be costly. It is important to
recognise that many innovation centers are wholly dependent on
sponsorship and grants to remain open.
The SRI building will feature a large entrepreneurship hub that
supports an innovation ecosystem for the entire campus. The cost of
running the facility and its programs/initiatives will be recovered from:
§ €15 per week per bed from student residents who will pay for the
privilege of having access to this facility.
§ €1.00 per sqft. innovation premium per campus tenants who will
be entitled to use the café and event space anytime - collected
through the management company via the service charge and
passed on to CrowdHive as an innovation stipend.
Its important to note the stipend and innovation premium would not
contribute to any profits for CrowdHive. 100% of the stipend would
be accounted for via audited accounts accessible to all tenants and
residents. This money will be used to fund a 24hrs operation, free to
attend events, programs and initiatives all designed to drive
maximum collaboration and leverage the talents of DCU talent.
FINANCIAL ASSUMPTIONS
This proposal is based on a number of financial assumptions and
theories in regard to pricing, market rates and economic conditions,
all of which feed into our high level projections.
§ DCC and Earlsfort will contributed €1m towards TechShop - we
assume DCU Alpha will be able to raise any funding shortfall.
§ The €3.0m proposed for the refurb. of the Services Building is
based on estimates - a more detailed study is required.
§ We assume we can deliver 148,000 sqft. of new build offices.
§ Rent level of €25.00 per sqft. for the new office space.
§ Rent level of €12.00 per sqft. for the TechShop space.
§ We assume we can deliver 415 student beds in the SRI.
§ We estimate the all-in development cost per bed to be in the
region of €110,000-120,000 per bed.
§ The standard DCU bed rate is €5,461 per annum (website), this
equates to €143.70 per week for the 38 week college term. We
assume SRI residents will pay an innovation premium of €45 per
week per bed rate to experience life in the SRI.
§ Our weekly student rate per bed will be €175
§ Our weekly innovation premium rate per bed will be €15
§ We assume DCU Alpha tenants will accept a stipend levy of €1.00
per sqft. towards the running of innovation programs and
initiatives at the entrepreneurship hub.

The Earlsfort Group have developed more than 1.5 million sqft.
of office accommodation over the last 2 decades. We have
delivered all of this on time and within budget.
The financial proposal outlined for Phase 1 is simple insofar as the
consortium would provide the funding and expertise to deliver a fully
functional makerspace to DCU Alpha.
The completed Services Building will be capable of generating €600k
per annum in rental income to DCU Alpha. The Earlsfort Consortium
would not be entitled to any income from that asset. When this is
added to the income already generated by Innovation House we
would estimate IDL assets are capable of earning €1.5m per year in
rents.
Phase 2 in simple insofar as Earlsfort Consortium bear responsibility
for delivering the SRI at their own expense and risk. There are too
many variable to provide an accurate and meaningful high level
financial model. We estimate the building/s will cost in the region of
€45-50m to deliver.
Phase 3 would involve the development of 4 innovation blocks with
site services in the curtilage around the site. The headline figures we
would work from are €210 per sqft. for non-basement shell and core
office. We would budget €40 per sqft. for M&S and finishes. The high
level all-in figures we would work to are €300 per sqft. which when
applied to 143,000 sqft. comes to €43 million.
We would normally spend weeks preparing cost estimates with our
quantity surveyors before committing to a development. We propose
an in-depth analysis be carried out before committing to anything.
The development of each Innovation Block (office building) would be
underpinned by a lease pre-commitment for at least 1 floor per block
of the building. Speculative development is possible but unlikely to
suit the risk profile of IDL.
We believe the presence of multiple scaling companies around the
campus will permit us to take a view on the risk we are collectively
willing to take.

THE EARLSFORT CONSORTIUM
Earlsfort Group will lead a consortium of partners and delivery providers whose interests
will be completely aligned with Invent DCU Limited. This consortium provides the very best
capabilities in technology park development combined with a proven track record in the
successful operation of innovation centers.

Earlsfort will lead a consortium of partners and delivery
providers whose interests will be completely aligned with Invent
DCU Limited.
This consortium provides the very best capabilities in tech cluster
development combined with a proven track record in successfully
operating both corporate and university innovation centers.
CONSORTIUM PARTNERS
Earlsfort Group including Earlsfort Centre (Developments) and
Earlsfort East Point Limited have built a solid reputation and track
record for success in joint ventures and PPP’s with state controlled
and semi-state entities. Successful joint ventures projects include the
development of Harbour Square (mixed residential & office scheme)
with the Dun Laoghaire Harbour Company and the 2nd Phase of
East Point Business Park (technology cluster) which was developed
jointly with Dublin Port Company.
CrowdHive Ventures Limited has been established to operate and
manage the proposed student residential incubator. The business
has the support of several capable strategic partners. The business
has ambitious plans to scale internationally following a successful
demonstration of the concept in practice with an exclusive university
partner.
THE TEAM | 13
The consortium partners have selected a number of service delivery
and strategic partners with both outstanding capabilities and highly
successful track records.
SERVICE DELIVERY PARTNERS
Kradyl Consulting is a Dublin based consulting business founded
by Brian Hayes and John Eager that specialises in corporate
innovation and the operation of startup accelerators and incubators.
Brian was previously Managing Director of Citibank Europe plc and
founder of Citi’s first innovation lab. He is an Advisor to Dublin City
University in Enterprise Innovation and Chair of the GRC Technology
Centre. John was previously CEO of Snap Printing and has lectured
widely on a range of business startup topics including the DCU Ryan
Academy and King Abdullah University for Science & Technology.
Effector is a Dublin based digital marketing agency founded by
entrepreneur and DCU student Karl O’Brien. Effector has been
brought onboard for its expertise in marketing to the increasingly
important millennial demographic. The business has grown from a
one person side-business to a fledgling agency with a team of 6
working with clients such as Audi, Conor McGregor, the University of
Michigan, the Ignite Academy & AIB among others.
Hatch Student Ventures is a Dublin based student accommodation
operator founded by Robert McNally and Richard Brierley. Robert is
a Chartered Accountant and former director of UK student operator
Liberty Living (17,000 beds). Richard has spent the last 15 years
managing and operating all aspects of UCD’s portfolio of purpose
built student accommodation.

The initiatives we have submitted here are as bold and
ambitious as any that might be proposed in a market soundings
exercise. We are unaware of any initiative on this scale or with
this level of innovation in the European real estate market.
It is our firm belief that the introduction of the student residential
incubator concept would give DCU a serious competitive edge and
first mover advantage over its university peer group that would take
at least a 5 years to catch.
CONTACT INFORMATION
Gavin Gallagher
Director
Earlsfort Group
Founder
CrowdHive Ventures Ltd.
01-634 0600
gavin@earlsfort.ie
MOVING FORWARD | 14

APPENDICES | 15
§ BUILD SCHEDULE
§ PROJECT PRESENTATION BOARDS
§ JOINT VENTURE PARTNER REFERENCE
§ FINANCIAL LETTER OF SUPPORT
§ TEAM MEMBER PROFILES
§ MISCELLANEOUS

GAVIN GALLAGHER
Director of Earlsfort Group
WILL MCCABE
Director of Earlsfort Group
BRIAN HAYES
Brian was Managing Director, Citibank Europe plc (CEP) from 2000 until the end of
2013. He was the architect and founder of Citi's first innovation lab (originally named
RDiL) and was also a member of Citi's Global Innovation Council based in
NY. During his time at Citi, he had extensive senior P+L leadership roles as
Treasurer, Senior Corporate Finance Officer and as MD of the Global Transaction
Services businesses.
Following his departure from Citi, he set up RDiL Labs at the DCU (Dublin City
University) Innovation Campus. RDiL works with a number of start-up companies,
who are looking to develop, launch and scale new technologies.
Brian also undertakes various innovation projects, business consulting, senior
executive coaching and training program as well as working closely with DCU
as an enterprise innovation advisor. Brian lectures on the full range of business
start-up planning and execution, including at DCU in Ireland, and the King Abdullah
University for Science & Technology (KAUST) in the Kingdom of Saudi Arabia.
He was Chairman of the DCU Educational Trust (the funding body for the university)
for 8 years.
He was appointed by the Irish Government to an advisory board tasked with
prioritizing state funding for research and he also chairs a Government funded
governance, risk and compliance technology centre. He is a member of the US based
Keiretsu angel network which funds new ventures.
TEAM PROFILES
JOHN EAGER
Since 2006 John has been involved directly in solving problems. He joined, and led
as Interim MD, the post-receivership rescue of the well-known publication Buy&Sell in
2009, resetting its business model for the Recession. In 2010, he was appointed
CEO of Snap, the national print franchise, to lead the long-term turnaround of the
network of franchises. This included the successful acquisition of a leading website
services company to complement the move into online.
John has lectured widely on the full range of business start-up planning and
execution, including at the DCU Ryan Academy for Entrepreneurship, and DCU
Invent, in Ireland, and the King Abdullah University for Science & Technology
(KAUST) in the Kingdom of Saudi Arabia. Assignments have been completed in
Ireland, the UK and the US. His relationship with DCU goes back almost a decade,
including serving as Chairman of one of DCU’s commercial entities, and completing
commercial and strategic reviews for DCU’s leadership.
KARL O’BRIEN
Karl started his first business at age 13, designing graphics for early social media
networks such as Bebo. From there he began doing freelance design work, taking on
jobs from clients worldwide. At age 18 with increasing demand for these services,
Karl established Effector, helping SME’s and Multinationals grow their business
through digital marketing. Effector has grown from a one person side-business to a
fledgling agency with a team of 6 working with clients such as Audi, Conor McGregor,
the University of Michigan, the Ignite Academy & AIB among others. As a digital
native, Karl brings his experience in reaching and delivering value to the student
audience. Karl is also a 4th year DCU student studying Marketing, Innovation &
Technology, and is completing the remainder of his degree on a part-time basis, to
allow time to focus on Effector and its associated projects.

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