Research Park, University of Illinois at Urbana-Champaign

Research Park, University of Illinois at Urbana-Champaign

Aerial View of the University of Illinois Research Park
Research Park, University of Illinois at Urbana-Champaign
60 Hazelwood Drive
Champaign, Illinois, USA 61820
Information
Established 1999
Area 663,000 sq-ft
Companies 90+
Structures 14
Employees 1,500+
Student Interns 500+
Website Official Site
University of Illinois at Urbana-Champaign

Research Park, University of Illinois at Urbana-Champaign, or simply referred to as "Research Park", is a research park located in the southwest part of the University of Illinois at Urbana-Champaign campus in Champaign, Illinois, United States. The Research Park at the University of Illinois at Urbana-Champaign is a technology hub for startup companies and corporate research and development operations. Within the Research Park there are more than 90 companies employing students and full-time technology professionals

Research Park

Research Park is a technology hub for startup companies and corporate research & development operations. Research Park contains more than 90 companies employing university students and full-time technology professionals. Research Park enables University of Illinois faculty to develop and commercialize new technology simultaneously with their academic work while established companies are able to collaborate with the faculty and researchers. Research Park has been a home for 202 companies/tenants since its inception and employs more than 1,600 people in high-technology careers, including 500+ student interns. University students gain valuable experience from highly regarded paid internship opportunities such as mobile app & software development, business intelligence, and modeling/simulation. Research Park has created about 1,500 direct jobs, 240 indirect jobs, and 500 induced jobs, with an economic output of $169,549,000 to Champaign and the state of Illinois. Research Park is home to 50+ startup companies located in the EnterpriseWorks Incubator, which is in the heart of Research Park. Through its corporate partnerships and university research endeavors, Research Park addresses the challenges of technology innovation while advancing the startup commercialization process by supporting entrepreneurs.[1]

EnterpriseWorks Incubator

EnterpriseWorks Incubator located in the University of Illinois Research Park

"EnterpriseWorks is the University's technology business incubator. Located in the heart of the University of Illinois' Research Park, its mission is to launch, support, and advance science-based startups that are commercializing disruptive technologies." [2] The EnterpriseWorks Incubator provides a bridge between the research of the University and the commercialization of technology by university faculty, researchers, and students. The award-winning incubator provides free counseling services to technology entrepreneurs and facilities such as laboratories, offices, conference rooms, kitchen, and co-working space. The Entrepreneur-In-Residence program is a free service provided by Research Park which consists of 7 experience tech entrepreneurs who provide monthly consulting to new startup ventures and prospective entrepreneurs.[3] Research Park and the EnterpriseWorks Incubator hold educational, training, social, and networking events to facilitate a community feel while providing a place where the newest startups have the opportunity to develop relationships with established national and international corporations.

Awards

History

Research Park gained the approval of the Board of Trustees in November 1999 and established its governance with the University of Illinois Research Park Limited Liability Company in March 2000. The Research Park opened its first building in 2001 and grew quickly into a 200-acre technology hub for corporate research and development operations. Research Park is located on the south side of the University campus which provides several advantages such as easy access to University facilities, close proximity to university faculty, and flexibility to use university students for internships.[11] In 2003, the State of Illinois provided funding to build the EnterpriseWorks Incubator, a 43,000 square-foot business technology incubator for early-stage tech firms, and the first tenants moved in during early 2004. In May 2000, the University entered into a partnership with Fox/Atkins who now leases the land from the University and constructs customized buildings for Research Park's tenants. The company is responsible for transforming the land from fish ponds, agricultural fields, and livestock barns to a thriving, supportive environment for modern tech entrepreneurs.[12] The next phase of development in the new master developer agreement is to add 160 acres of additional land east of the main Research Park area. This expansion represents the continuing success of advancing the economic development in the state and region at large. The total operation in Research Park annually contributes $4.1 million in tax revenues to the state of Illinois. The total construction over 10 years contributed $7.2 million in state tax revenue. The Research Park is the most visible shift in economic development and innovation in the history of the University of Illinois. Ed McMillan, chairman of the Board of Managers for the Research Park and a University of Illinois trustee, stated that, "The mission of the Research Park is much in collaboration with the mission of the University of Illinois. In addition to teaching - in addition to research and outreach - it's also commercialization of technology."

[13]

Events

Networking events include happy hours, golf outings, bonfires and an annual holiday party. The Research Park also facilitates recurring events that target certain groups related to technology business. Research Park Calendar

Hendrick House offers locally sourced, made from scratch food.
Pandamonium Doughnuts offers made-from-scratch doughnuts using local and organic ingredients whenever possible.

Leadership

Recent Company Openings

Chancellor Phyllis Wise at the Ameren Innovation Center Grand Opening at the University of Illinois Research Park

Notable Tenants

John Deere at the University of Illinois Research Park

Complete Tenant Directory

Notable Graduates

Amenities

I-Hotel located within Research Park in Champaign, Illinois

References

This article is issued from Wikipedia - version of the 1/27/2016. The text is available under the Creative Commons Attribution/Share Alike but additional terms may apply for the media files.