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UNIVERSITY OF ILLINOIS URBANA-CHAMPAIGN

Research Park

    Media Mentions

    EnterpriseWorks Media Mentions News

    Inc.com lists EnterpriseWorks as one of the “10 Start-up Incubators to Watch”

    CHAMPAIGN, Ill. —Inc.com’s recently published list of 10 start-up incubators to watch featured EnterpriseWorks as one of the “most productive, innovative, and nurturing start-up incubators in the country.” EnterpriseWorks, a business incubator for early-stage technology firms located within the Research Park at the University of Illinois at Urbana-Champaign, was included in Inc.com’s July 15 article, “10 Start-Up Incubators to Watch,” because of its multifaceted approach to working with entrepreneurs and the various opportunities available to start-ups. EnterpriseWorks was lauded for “particular success with information and biotechnology companies.” The article also cited its unique location within the Research Park; as a result, EnterpriseWorks start-ups have the opportunity to interact, network and collaborate with tenants including large corporations and other established firms. Start-up companies also have access to an economically viable, highly talented workforce as they employ many University of Illinois students. “By working to commercialize U of I research, start-ups at EnterpriseWorks are addressing societal challenges and pursuing transformative results,” said Lawrence Schook, interim Vice President for Research at the University of Illinois. “We are proud of our efforts to support start-ups through hands-on training, funding and grant opportunities, and access to some of the best entrepreneurial minds our community has to offer.” The Inc.com article specifically mentioned the EnterpriseWorks Entrepreneur-in-Residence (EIR) program, which provides free consulting services by experienced entrepreneurs who have effectively commercialized technology. The EIRs provide a wide array of assistance – at no charge to local technology entrepreneurs – including one-on-one consultations and training workshops. In the past year, the EIRs have conducted more than 200 individual consultations. “We appreciate the recognition of the accomplishments of EnterpriseWorks in creating an eco-system and support resources conducive for technology commercialization. Our success in launching more than 120 companies since the Research Park opened in 2001 has taken a lot of hard work by the entrepreneurs, the University, the community, and state,” said Laura Frerichs, Director of Research Park.

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    Forbes Cites University of Illinois Research Park as a Technology Incubator Changing the World

    CHAMPAIGN, Ill. — Forbes.com’s list of technology incubators that are changing the world included the University of Illinois Research Park. The Champaign park was included in an April 16 online story — “In Depth:10 Technology Incubators That Are Changing the World” –because of it’s the combination of established firms and start-ups in close proximity, student employment in companies and the history of innovations from the University of Illinois. The University of Illinois Research Park was lauded for having a combination of large corporate operations alongside new technology startups. This creates an opportunity for interaction that allows small firms to learn from large corporations and for the established firms to develop entrepreneurial approaches to innovation. “The Research Park at the University of Illinois has effectively attracted and grown operations for large corporations and also supported technology commercialization,” said Avijit Ghosh, U of I vice president for technology and economic development. Located on campus, The Research Park at the University of Illinois opened in 2001 and has grown rapidly. Currently the park has 80 companies and 607,000 square feet of building space. The Research Park has been developed as a public-private partnership between the University of Illinois and Fox/Atkins Development. The Research Park at the University of Illinois provides an environment where technology-based businesses can work with the research faculty and students at the Urbana campus to take advantage of opportunities for collaborative research and easy access to University labs, equipment and services. Publically traded firms in the Research Park include: ADM, Abbott Laboratories, Caterpillar, Deere & Company, QUALCOMM, Littelfuse, Riverbed, SAIC, Sony, State Farm and Yahoo. “One of the secrets to our success has been the growing employment of students by Research Park companies,” said Laura Frerichs, associate director of Research Park and Incubation Facilities. Research Park companies employ 440 students in positions that are typically year-round placements and provide hands-on learning in paid positions.   “This continuity of employment allows companies to leverage student talent all year, reduce workforce costs by hiring students as research staff, achieve a flexible staffing model and create a recruiting pipeline of future talent to cherry-pick after graduation,” said Frerichs. The article and full list of incubators selected by Forbes is available at:http://www.forbes.com/2010/04/16/technology-incubators-changing-the-world-entrepreneurs-technology-incubator_slide_8.html.                                                              #### University of Illinois/Research Park contacts Research Park website: researchpark5.wpenginepowered.com Avijit Ghosh, Vice President for Technology and Economic Development (217) 265-5440 vpted@uillinois.edu Laura Frerichs, Associate Director of Research Park and Incubation Facilities  (217) 333-8324 lfrerich@illinois.edu Fox/Atkins Development, LLC Peter FoxManaging Member(217) 351-1430peterf@fox-companies.com About the University of Illinois: The University of Illinois is a world leader in research and discovery, the largest educational institution in the state with more than 71,000 students, 24,000 faculty and staff, and campuses in Urbana-Champaign, Chicago and Springfield. Since its founding in 1867, the University of Illinois at Urbana-Champaign has earned a reputation as a world-class leader in research, teaching, and public engagement. The University of Illinois at Urbana-Champaign has a long history of innovations and technology invented by students, faculty, and alumni that have changed the world including: the first public demonstration of sound on film; Prof. John Bardeen’s theory of superconductivity and his previous work inventing the transistor; Illiac, the first digital computer built and owned entirely by an educational institution; Mosaic, the first popular graphical browser for the World Wide Web; Plato, the first computer based education system; nuclear magnetic resonance (NMR) that led to the development of magnetic resonance imaging (MRI); You Tube developed by former computer science students Steve Chen and Jawed Karim; PayPal founded by Max Levchin; Siebel Systems founded by UI alumnus, Thomas Siebel; and Beckman Instruments founded by UI alumnus, Arnold Beckman. About Fox/Atkins Development, LLC: In a joint effort with the University of Illinois, Fox/Atkins Development, LLC, a partnership that was formed between Fox Development Corporation and The Atkins Group, was selected to develop The Research Park at the University of Illinois. www.foxcompanies.com.

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