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UNIVERSITY OF ILLINOIS URBANA-CHAMPAIGN

Research Park

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    News Research Park

    News Coverage of Research Park 10th Anniversary Events

    The (Champaign-Urbana) News-Gazette reported on Research Park expansion progress, as detailed at the Board of Managers meeting on Nov. 10, 2011. It continued its coverage of Research Park 10-Year Anniversary event with a photo gallery of the Research Park tours, the Atkins Building dedication and the 10-Year Anniversary Program.  The Daily Illini also wrapped up the Research Park’s 10-Year Anniversary events with coverage from the tours. 

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    News Recognition & Awards Research Park

    Research Park Celebrates 10th Anniversary

     CHAMPAIGN – University officials, government representatives and members of the technology community will join together to celebrate a decade of innovation at the Research Park at the University of Illinois at Urbana-Champaign during ceremonies on Nov. 10. The first building at Research Park opened in 2001. Today, the complex has 12 buildings with more than 90 companies – from one-person startups to offices of 11 Fortune 500 corporations– that employ approximately 1400 workers. The public is invited to the formal celebration on Nov. 10 at 5 p.m. in the Atkins Building (formerly the Gateway Building). “Celebrating milestones like this gives us a chance to affirm our commitment to supporting innovation, creating jobs and ultimately, adding value to our community,” said Vice President for Research Lawrence Schook. “The Research Park is an integral component of the economic development mission of the University, and while we acknowledge 10 years of hard work to get to this point, I know the best is yet to come.” In 2010, Forbes.com named Research Park as one of the Ten Technology Incubators Changing The World. In 2011 Inc.com named EnterpriseWorks, the Research Park’s early-stage technology incubator, as one of the top 10 start-up incubators in the nation. Research Park is a hub of entrepreneurial activity, from technology commercialization by startups to research and development innovation by corporate partners. It facilitates the establishment and strengthening of research connections between companies and the University; its companies also employ students for hands-on learning opportunities throughout the year. A recent economic impact study performed by the Champaign County Regional Planning Commission showed the Research Park’s considerable imprint on the community, from construction to operations. Its wage impact totals $81 million a year, for an annual economic output of $169.5 million. Since 2001, the University has invested $101 million in Research Park facilities and infrastructure; construction job impact, combined with purchase of construction materials, has created an economic output of $159 million. “The Research Park is the result of the Board of Trustees’ vision to transform agricultural property and fish ponds into a vibrant technology community,” said Laura Frerichs, Director of Research Park. “We look forward to the next 10 years as we attract more large companies as well as new entrepreneurial ventures started right here.” The Research Park at the University of Illinois at Urbana-Champaign provides an environment where technology-based businesses can work with faculty and students to take advantage of opportunities for collaborative research.  Located on campus, the Research Park is home to more than 90 companies, employing 1,400 people in high-technology careers.  Publicly traded firms in the Research Park include: ADM, Abbott Laboratories, Caterpillar, Deere & Company, Eastman Chemical, Littelfuse, Raytheon, Riverbed, Sony, State Farm, and Yahoo. The Research Park is also home to 30 startup companies that are commercializing technology. For more information, visit researchpark5.wpenginepowered.com.

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    News Research Park

    Sen. Dick Durbin Visits UI Research Park to Learn about Innovation, Entrepreneurship

    Senator Dick Durbin of Illinois toured the Research Park on Monday, Oct. 24, to learn about how high-tech companies in Champaign-Urbana are adding jobs through innovation and entrepreneurship.  Durbin saw demonstrations from two IT/software startups at the EnterpriseWorks high-tech incubator, Nuvixa and Cazoodle, before touring three other buildings. He visited with representatives from Starfire Industries, a plasma engineering firm that has attracted significant funding from federal Small Business Innovation Research awards. In addition he heard from Chromatin Inc., a biotech company that also graduated from the incubator.  His last two stops were at Littelfuse, where he saw a demonstration of the high-power testing lab, and Yahoo!, where the Senator met one new hire who was on his very first day on the job.  Photos from the Senator’s visit can be found at our Facebook page.

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    News Partnerships & Acquisitions

    New NSF Innovation-Corps (I-Corps) Program to Provide Startup Support

    On July 28, 2011, the National Science Foundation launched Innovation-Corps (I-Corps), a public-private partnership designed to bring promising research projects out of the lab and into the marketplace. Supported by the Deshpande and Kauffman Foundations, I-Corps was developed in conjunction with the Office of Science and Technology Policy (OSTP) and is a part of the Obama Administration’s focus on innovation. Through I-Corps, NSF seeks to identify and nurture research capable of transitioning out of academia and the laboratory, and link it into a broader network of entrepreneurs, investors, and industry experts. I-Corps requires awardees to attend classes and learn the mechanics of creating a start-up company. Awardees would be required to assess their field and potential competitors, determine their customer base, attract investment, and market their ideas. Critically, this process is meant to enable grantees to define what value their idea or invention adds to the marketplace. While there are many possible outcomes for I-Corps teams, those envisioned by NSF include: start-up businesses, licenses to technologies or products, SBIR proposals, and business plans ready for investor support. Each team will utilize a mentor, who is a volunteer from the private sector with expertise in converting academic research into commercial products and technologies. NSF anticipates awarding one hundred $50,000 grants a year for three years. Each award will be made to a team led by a Principal Investigator (PI). PIs must either be current NSF grantees or have received an NSF award within five years previous to submitting an I-Corps proposal. More information is available at http://www.nsf.gov/news/special_reports/i-corps/ 

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    News Recognition & Awards

    Research Park Honors Most Valuable Interns of 2011

    CHAMPAIGN – Outstanding student interns working for companies in the Research Park will be honored August 4 at the Intern Recognition Event in the Gateway Building. Supervisors nominated broad spectrum of interns for this year’s awards; all the awardees are students at the University of Illinois at Urbana-Champaign. At any given time more than 400 highly-skilled student interns work for Research Park tenants, gaining valuable experience while making real contributions to internal corporate research and development programs.   Awardees will be announced at 6 p.m. and will be available for interviews at the conclusion of the awards ceremony, Best Tech Innovation in the Research Park: Sean Hurley, Sophomore in Computer Science, State FarmSean is a project lead of a six-member team focused on mobile application trends. He developed a prototype for a car shopping application. Best Tech Innovation from an Undergraduate in a Startup: Chun Yang, Senior in Computer Science, CatervaProductive, creative, and committed, Chun developed an extremely fast algorithm to advance significant product development. Best Tech Innovation from a Graduate in a Startup: Mert Dikmen, Electrical and Computer Engineering graduate student, NuvixaMert has assumed a technical leadership role as resident computer vision expert and has able to quickly and adeptly improve product demonstration. Most Valuable Graduate in the Research Park: Megan Danko, Aerospace Engineering graduate student, CaterpillarMegan helped to successfully execute combustion simulation for future low-emission engine concepts and 3D oil flow simulation for energy-efficient power transmission concepts, projects typically performed by full-time simulation specialists. Most Valuable Undergraduate in the Research Park: Jack Dintruff, Junior in Computer Science, Yahoo!Jack has demonstrated motivation and leadership skills necessary to keep a ground-up software development project on track, driving complex features into a new framework from Day 1. The Research Park at the University of Illinois at Urbana-Champaign provides an environment where technology-based businesses can work with faculty and students to take advantage of opportunities for collaborative research. Located on campus, the Research Park is home to more than 90 companies, employing more than 1,400 people in high-technology careers. Publicly traded firms in the Research Park include: ADM, Abbott Laboratories, Caterpillar, Deere & Company, Littelfuse, Riverbed, Sony, State Farm, and Yahoo. The Research Park is also home to 30 startup companies that are commercializing technology.

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    EnterpriseWorks News

    I-Start Program Launching Soon, IL DCEO Awards Grant Funding

    EnterpriseWorks is creating a new entrepreneur kick-start program to help launch more companies out of the University of Illinois. EnterpriseWorks is developing the I-Start program to encourage more University of Illinois inventors to pursue start-up formation and commercialization of their research and technology. Working alongside proof-of-concept funding programs, I-Start will help facilitate the administrative and professional service work related to forming a new company, which can seem overwhelming and time consuming to new entrepreneurs. I-Start will offer a suite of first year startup services for new University of Illinois entrepreneurs including business development, business plan writing, legal setup, SBIR application, financial statements, marketing assistance, and human resources/payroll assistance. The I-Start program is designed to complement participation in the EnterpriseWorks incubator, which provides a supportive environment for new entrepreneurs to locate with other new startup companies. EnterpriseWorks will be offering the I-Start program through a cost sharing model, with funding provided on a competitive basis and awarded based on the potential of the faculty member (or qualified entrepreneur) and technology to have commercialization success. EnterpriseWorks would support funding for the program as a part of its incubation program. Funding provided by EnterpriseWorks, would overtime be considered “repaid” through rent, accounted by crediting half of future rent towards pay-off of I-Start services provided upfront to the new company.  The Illinois Department of Commerce and Economic Opportunity (DCEO) has generously awarded a grant to EnterpriseWorks at the University of Illinois to provide additionally funding to allow the program to support more entrepreneurs from the University of Illinois. With new funding provided by the grant from DCEO, combined with funding from the Research Park, it is anticipated that 15 new startup firms can participate in the program over an 18 month launch period. There will be two levels of funding available for I-START program. The first option is 90% upfront funding by EnterpriseWorks and DCEO and the remainder of the cost paid by the entrepreneur. This will include a competitive selection process to qualify for the program with input from the Office of Technology Management and EIR advisors. The second option is for the company to fund 50% of the services while EnterpriseWorks and DCEO fund the other 50%. This will also include an internal application process with input from OTM, but will be less restrictive. Additionally, a company may elect to fund 100% of the program upfront, requiring no repayment and qualification through EnterpriseWorks application.  Applications and service agreements are being developed for the new I-Start Program. If you are interested in being considered for the program please contact Laura Frerichs or speak with a Technology Manager at the UI Office of Technology Management.

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    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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    News Partnerships & Acquisitions Research Park

    Littlefuse Grand Opening press release

    WHAT: On January 25, 2011, Littelfuse Inc. (NASDAQ/NGS:LFUS) is hosting a grand opening event for their new engineering facility in the Research Park at the University of Illinois. This event will include leadership from Littelfuse dedicating the new building, including their CEO, Mr. Gordon Hunter. The University of Illinois will also welcome Littelfuse to the Research Park with remarks by Interim Chancellor Robert Easter and UI Vice President of Technology and Economic Development Avijit Ghosh. Littelfuse opened a new facility on the University of Illinois campus for the POWR-GARD division. The facility will house more than 20 full-time employees and student interns. Tours of the facility will be given including demonstrations in the new high power testing facility enclosed with bullet proof glass, which sends high voltage electricity through fuses to test their durability. WHO: The event will include Littelfuse executive leadership including CEO Gordon Hunter, CFO Philip Franklin, and leadership of the Electronics Business Unit. The University of Illinois community and the press are invited to attend. Formal remarks from the University of Illinois will be made by Interim Chancellor Robert Easter and UI Vice President of Technology and Economic Development Avijit Ghosh. WHEN: The event will take place on Tuesday, January 25, 2011 from 3:00-6:00 pm, with the formal ribbon cutting and ceremony commencing at 3:30 pm, followed by a reception, building tour, and technology demonstrations from 4:30-6:00 pm. WHERE: The event will take place at the Littelfuse Building located at 2110 S. Oak Street in the Research Park on the University of Illinois campus. The Research Park is immediately south of Assembly Hall, the Littelfuse building is between Hazelwood and Gerty on Oak Street. The building was constructed by Fox/Atkins Development LLC, the developer of the Research Park. WHY: The Research Park at the University of Illinois provides an environment where technology-based businesses can work with the research faculty and students. Littelfuse is the newest publically traded firm to open an R&D facility within the Research Park. The new location adds jobs to the Champaign-Urbana community, internships for students to get real world experience during the academic year, and increased engagement with the University.

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    EnterpriseWorks News Partnerships & Acquisitions

    New Entrepreneur-in-Residence at EnterpriseWorks: Alan Singleton

    EnterpriseWorks hires Entrepreneurs-in-Residence to assist entrepreneurs and inventors that are starting a business. EnterpriseWorks hires local-experienced entrepreneurs that have effectively commercialized technology to provide consultation to local entrepreneurs at no cost to the company. The EIRs provide advice on business development, attracting investment, revenue creation, and engagements with industrial clients. They also provide entrepreneur training, and help fill early management guidance for startups and help inventors determine a path for starting their business. EnterpriseWorks will cover the cost of the consulting services for Research Park clients and other University of Illinois entrepreneurs. EnterpriseWorks requires a request for counseling submission to be completed. Alan Singleton specializes in corporate formation and transactions, intellectual property, and securities law. He has over 17 years of experience working with entrepreneurs to develop solutions to the wide variety of business and legal issues they face in establishing and growing their companies.  Alan regularly advises clients on issues including company formation, raising capital, securities compliance, taxation and implementing stock option plans, mergers and acquisitions, and asset sales.  Alan has established a reputation for being a leader in technology commercialization and early stage companies in East Central Illinois.  In recognition of his work, Alan was selected by the University of Illinois and the Champaign County EDC as the 2008 recipient of the Entrepreneurial Advocacy Award.  Alan is active in both the business and educational communities.   His firm organizes the business plan review group Second Saturday and he has served as a judge for the V. Dale Cozad Business Plan Competition.  While maintaining an adjunct faculty appointment with the University of Illinois College of Medicine, Alan has given guest lectures for the University of Illinois MBA course on technology commercialization, the senior Capstone Design Course in the Department of Agricultural and Biological Engineering, the Academy for Entrepreneurial Leadership Idea to Enterprise Workshop, the Technology Entrepreneur Center Advanced Invention to Venture workshop and for medical residency programs throughout the state.

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