Research Park, University of Illinois at Urbana-Champaign

From Wikipedia, the free encyclopedia
Jump to: navigation, search
Research Park, University of Illinois at Urbana-Champaign
Aerial View of the University of Illinois Research Park.png
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[edit]

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 1,500 people in high-technology careers, including 450+ 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. 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[edit]

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.[2] 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.

History[edit]

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.[3] 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. [4] 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."

[5]

Leadership[edit]

  • Laura Frerichs, the University of Illinois Research Park Director and Director of Economic Development for the University of Illinois' Urbana-Champaign campus.
  • Laura Bleill, Assistant Director of External Relations for the University of Illinois Research Park.
  • Cynthia Faullin, Assistant Director for Operations in Research Park.
  • Dana Cohen, Events and Workforce Development Coordinator
  • Roger West, Finance Manager

Awards[edit]

  • Urbana, IL named a Top Startup City by Popular Mechanics, mainly due to the UI Research Park community[6]
  • One of Three College-Town Incubators to watch by Inc.com in June 2013[7]
  • One of 12 Business Incubators Changing the World by Forbes.com in 2013 [8]
  • Top 10 Start-Up Incubator to watch by Inc.com in 2011[9]
  • Outstanding Research Park Award by the Association of University Research Parks in 2011[10]
  • Top 10 Technology Incubator that is changing the world by Forbes.com in 2010 [11] In 2011

Corporate Partnerships[edit]

I-Hotel located within Research Park in Champaign, Illinois

Recent Company Openings[edit]

Notable Tenants[edit]

Complete Tenant Directory

Notable Graduates[edit]

Events[edit]

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.

  • Startup Cafe[12] - Luncheon series that highlights successful entrepreneurs with connections to the Research Park as guest speakers
  • CU Women in Tech[12] - Informal networking event for women working in Champaign-Urbana area technology companies or women working in technology roles
  • CEO Roundtable[12] - Networking event for CEO's of technology businesses in Champaign-Urbana to address business operations and best practices
  • Big Data Summit[12] - Event gathering the thought leaders from the University of Illinois Research Park, industry, and academia, in order to explore the challenges and emerging topics surrounding Big Data
  • Career Fair[12] - Job fair for Research Park employers and recruiters to meet prospective student jobseekers
  • Mobile Development Day[12] - Daylong event dedicated to providing and sharing information while networking with peers about mobile development with the thought leaders from the University of Illinois Research Park, industry, and academia

Research Park Calendar

Amenities[edit]

  • 3D Printer[13]
  • Conference Rooms[13]
  • Daycare[13]
  • Electric Vehicle Charging[13]
  • Entrepreneurs-In-Residence[13]
  • I-Hotel & Conference Center[13]
  • Outdoor Facilities[13]
  • Restaurants[13]
  • Server Co-Lo Facility[13]
  • Shared Lab Facilities[13]
  • Work-Out Facilities[13]

References[edit]