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UI to break ground Monday on its new technology incubator
Kesha Green,
News Bureau
(217) 333-1085; k-green3@illinois.edu
11/15/2001
CHAMPAIGN, Ill. — The
University of Illinois will hold a groundbreaking ceremony Monday (Nov.
19) for its new technology incubator, a facility that will give faculty
and students the opportunity to explore commercialization options for
their research.
Chancellor Nancy Cantor and Paul Bohn, the interim vice chancellor for
research, will host the ceremony at the UI South Research Park, 1816
S. Oak St., Champaign, from
3 to 4:30 p.m. The incubator is to be built at the corner of Hazelwood
Drive and Oak Street in the South Research Park area. Construction of
the two-story, 43,000 square-foot building will begin later this month
with completion scheduled for November 2002.
The incubator will offer a variety of resources to assist early-stage
technology companies. For example, companies will receive help with
business planning, market research, human resources, and seed and venture-capital
funding. Incubator companies will have access to mentoring support and
other external resources to assist in their development.
The program also will refer or provide access to professional, facility
and university services, which include connectivity, shared services
and shared equipment. Program participants will have access to wet labs,
shared lab equipment rooms, office and conference rooms and shared tenant
service space. These combined services will provide incubator companies
with a low-cost environment close to campus.
Established companies can use the incubator as a possible resource for
finding technologies complementary to their primary markets. The incubator
also will create additional jobs for students, alumni and other members
of the university community.
As the incubator companies mature, they can become stand-alone tenants
in the UI’s Research Parks, which will serve as environments to
nurture businesses.
