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News Research Park

Bloomberg News Tells Why CME Group Put an Innovation Center at Research Park

CHAMPAIGN — To increase coding and programming recruitment efforts, CME Group will be opening an Innovation Center in the University of Illinois Research Park on September 9. This will be CME Group’s first location on a college campus, and they hope to employ 10 student interns. Research Park Director, Laura Frerichs, said “As long as the growth of tech becomes increasingly imperative in the financial industry, which it seems to be, recruiting is going to continue to hike.” To read more about the operation, read the Bloomberg article here.  

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Research Park Honors Most Valuable Interns of 2016

CHAMPAIGN – Research Park’s most outstanding interns were honored on Thursday, July 28, 2016 at the Research Park Summer Picnic.  Almost 600 highly skilled students work for Research Park tenant companies, where they gain valuable work experience as well as make significant contributions to internal corporate research and development programs.  The interns nominated for this year’s intern awards represent a wide range of backgrounds, and are all students at the University of Illinois. A team of Research Park professionals evaluated all nominations and voted on the finalists and winners. The honorees are as follows: Best Entrepreneurial Leadership in a Startup Jessica Su, Technology Management, PhotoniCare. “Jessica exemplifies the startup mindset of problem-solving. If she does not know something, she figures it out. In my opinion, this is the single most-defining quality of a useful start-up team member. When everything you do it pushing the envelope, there are precious little resources you can use to figure something out. Learning to make do with what you have and learn need to learn as soon as possible is absolutely crucial, and Jessica models this behavior every day while pursuing a Masters degree.” Finalists: Wesley Roth, Xerion Advanced Battery Corp.; Andrew Cona Van Castile, IllinoisRocstar; Kai Lopez, Intelinair Best Technological Innovation Anna Madison, Psychology, State Farm RDC “Anna is leading a team of interns to create a learning platform for new driving students to better learn the rules of the road. They are using 3D programming to create a VR environment so that students can become fully immersed in their learning. Anna is not only leading the project, but she has learned to program in Unity so that she can contribute and help with the pace as they fine tune the 3D assets used in the simulator.” Finalists: Mitch Van Swol, Riverbed Technology; Adrian Daneshvar, Granular Most Advanced Marketing and Business Development Sara Hoke, Communication, Common Ground Publishing. “Sara has led the redevelopment of our company social media plan; she built the strategy, that for the first time integrates all our departmental plans. She has also doubled social media traffic to websites.” Finalist: Tiffany Zhang, AbbVie; Annie Mengzhen, AE Machines Most Outstanding Undergraduate Noah Flynn, Bioengineering, AbbVie. “Noah’s primary focus was on developing a chord chart, which we will eventually incorporate as part of our toolbox. However, due to his outstanding aptitude and velocity, Noah went ahead and added a chord view to the interactome viewer, which has now been put into production and is utilized within the company. It’s a huge accomplishment for anyone in R&D IT, especially a student.” Finalists: Mariana Vetromille, Agrible; Raaji Khan, CEB Data Innovation Center Most Outstanding Graduate Avinash Ahuja, Computer Science, Anheuser-Busch InBev Bud Analytics Lab. “As a result of Avinash’s contributions with our Eagle Eye project, we have improved our customer data consolidation and analysis tool in a way that has allowed it to become scalable to any market in the world. As a result, I believe that AB InBev’s yearly revenue will increase greatly as we are able to leverage our consolidation data and analyses to reach new customers more efficiently than ever before.” Finalists: Alexander Kaczkowski, Caterpillar; Alessandro Gondolo, Agrible; Zinnia Zhang, Abbott Laboratories

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News Research Park

Research Park Growth Continues

CHAMPAIGN – A recent survey conducted at the Research Park puts the employment total to 1,711. 594 of those employees are student interns, of which 57% are undergraduates and 43% are graduate students. Laura Frerichs, Research Park Director, says that “this years’ job numbers are a testament to the economic impact we have on the community. Since the opening of our first building in 2001, Research Park has continually attracted new partners, companies, and has given thousands of students the opportunity to work and gain experience in the tech industry while still in school. Our plans for future developments and corporate partnerships will only serve to make our impact deeper.” Currently, Research Park and the EnterpriseWorks startup incubator are home to over 100 companies, nine of which are Fortune 500, and 19 are publicly traded.

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City of Champaign Shows Support of Mixed Use Project

CHAMPAIGN – The Champaign City Council has agreed to give preliminary approval to at an additional $500,000 to an incentive agreement now up to $3.5 million. The incentives to Research Park are in the form of tax breaks over a 15 year period. The new mixed use project by Fox/Atkins Development will be located between the I-Hotel Conference Center and the Yahoo! Building. The new $10.8 million ‘town center’ project will fill a long needed gap in the amenities at the Park. It will include retail space for restaurants and shops, conference space, office suites, and apartments on the third floor. To learn more about the project, read the News-Gazette article, or WCCU’s report.

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EnterpriseWorks News

Veriflow Systems Raises $8.2 Million

CHAMPAIGN – Veriflow Systems, an EnterpriseWorks tenant, has announced that they have raised $8.2 million in Series A funding. The fundraising effort was led by Menlo Ventures, and follows the nearly $3 million effort in April. Veriflow Systems develops an online network security software. They use verification technology to help protect networks against hackers and outages. Veriflow plans on using the funds to hire more engineers, work on its sales force, and boost their marketing across the industry. To learn more about this big invest read up on Yahoo! Finance.

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Pixo CEO highlights time as Research Park Entrepreneur-in-Residence

CHAMPAIGN – Lori Gold Patterson, the CEO of Pixo, will be honored this week as Parkland College’s Entrepreneur of the Year. Patterson serves as an EIR at Research Park – a role she believes is one of her favorites – a role where she can make an impact on future leaders. As an EIR she notes that “one of the key pieces of advice I give to new business founders is to digest the advice they get from mentors and advisors, but also to challenge it as wholeheartedly as they would challenge anything else.”

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EnterpriseWorks News

Veriflow Systems Raises $2.9 Million, Announces CEO Hire

Veriflow Systems, a startup based at EnterpriseWorks co-founded by two University of Illinos at Urbana-Champaign computer science faculty members, has announced a $2.9 million Series A funding round and a new CEO hire. The company, which has been in “stealth” mode, “uses mathematical network verification to help enterprises to prevent outages and breaches that lead to serious consequences.” The initial investor funding comes from New Enterprise Associates (NEA), the National Science Foundation, and the Department of Defense. Their aim is to help companies be able to verify the strength of their computer networks through a patented “lightweight virtual machine” that can offer extra eyes and ears to an IT team watching for errors and breaches,” wrote Chicago Inno. Other Media Coverage: SiliconANGLE Network Computing

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Scoble: “Small Town” America is Primed To Beat Silicon Valley in Innovation

Following his visit to Champaign-Urbana and a similar trip to Blacksburg, Va., tech futurist Robert Scoble blogged about how “Small Town America is primed to beat Silicon Valley in Innovation”. Scoble cites the cost of doing business in Silicon Valley combined with the talent found at research universities as a reason why these communities can hold on to more innovators and companies. “If you watch even a few of these videos you’ll see just how high quality these companies and innovators are and why I believe these small communities are primed to see rapid growth over the next decade as both new kinds of startups and bigger companies decide to move more people to these kinds of communities due to the very high costs in Silicon Valley.” Read the complete story online.    

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News Research Park

Robert Scoble Visits Research Park

Robert Scoble, blogger, technical evangelist, and author flew to visit the Champaign-Urbana tech community and wrote about what is happening here. The Economist wrote of him, “He has become a minor celebrity among geeks worldwide, who read his blog religiously.” He is currently a writer and works at Rackspace, he previously was a technology evangelist at Microsoft and writer at Fast Company. He sent out live interviews with tech companies during his visit. Those videos and more are up on Scoble’s Facebook page here. 

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Scott Daigle and Patrick Slade Among Forbes 30 Under 30

Five of the Forbes 30 Under 30 have ties with the University of Illinois. Of these five, two are cofounders of companies in EnterpriseWorks. Scott Daigle is the cofounder of Intelliwheels, which, “has attracted $2 million in growth capital to date”. Patrick Slade is the cofounder of Psyonic, a company who’s mission is to deliver advanced, neurally-controlled prosthetic hands worldwide at a lower cost and with more functionality than state-of-the-art prostheses. Read more about all five of those named with University of Illinois ties here.

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