Recognition & Awards

AGCO Acceleration Center (AAC) is celebrating its second year within the University of Illinois Research Park. In their August 12, 2019, article, they note they came to the Park for three reasons: Help recruit students that will be our next generation of AGCO leaders Utilize the expertise of the University of Illinois faculty in agricultural and computer science engineering design Share an ecosystem with entrepreneurs who are developing the new technologies to stay on the cutting edge of the ever-changing agriculture industry The company reflects on how successful they have been at achieving these goals and what they have taken away so far from their time in the Research Park and at the University of Illinois. “Since we first opened our doors, we have been able to build and expand the scope of the AAC in ways we never could have imagined,” they said. As the AAC moves forward, they plan to move from startup phase to growth phase in order to better impact the bottom line. They also intend to expand their reach in the agtech ecosystem to continue sharing innovation with the Research Park and beyond.

Reconstruct, a Research Park startup, has closed a $7.7 million series A round led by Cultivation Capital. Investors also include Serra Ventures and Seyen Capital. According to BusinessWire, Reconstruct provides a ‘visual command center’ for projects, enabling project executives to proactively and precisely manage construction progress including detecting current, past, and future performance issues. Cultivation Capital Partner and Board Member, Barry Sandweiss sees incredible potential in the company. “Reconstruct has the opportunity to transform the management, financing, and insuring of projects in construction and beyond.” Reconstruct’s AI and digital twin capabilities help project stakeholders by providing indoor/outdoor views enabling them to track and resolve issues in a virtual environment before actual impact on cost and schedule. University of Illinois Research Park Director, Laura Frerichs said, “We have been honored to be a part of the Reconstruct journey and getting to see their growth from early stage technology to commercial success. They have created a tremendous team and technology with market value, customers, and impact”. Read the full article here.

On November 14, Field to Market: The Alliance for Sustainable Agriculture announced the 2018 recipients of its Sustainability Leadership Awards. Two Research Park companies, Archer Daniels Midland Company (ADM) and Agrible along with General Mills, Inc. were awarded the 2018 Collaboration of the Year Award. The three recipients were recognized for their efforts to aid farmers in the Southern Plains build soil health, conserve water, and extend the life of the Ogallala aquifer. ADM, Agrible, and General Mills are “helping farmers measure continuous improvement in soil health and water conservation,” says Rod Snyder, president of Field to Market. With the future potential of prolonged drought, these partners are helping farmers improve the resiliency of their fields, conserve water, and improve their bottom line through conservation or no-till. Field to Market has more than 140 members who represent all parts of the United States agricultural supply chain. Members employ more than 5 million people and represent combined revenues of over $1.5 trillion. For more information and to view the full story, click here.

Linda McMahon, the 25th Administrator of the U.S. Small Business Administration, visited the Research Park today to tour EnterpriseWorks, the technology business incubator that focuses on science- and research-based entrepreneurs. The visit was organized by the Illinois Small Business Development Center at Champaign County EDC.  McMahon heard an overview of the University of Illinois Research Park and talked with several EnterpriseWorks technology startups including Serionix, Reconstruct, AirScout, and Petronics.  In addition to showcasing small businesses, the visit highlighted the local entrepreneurial ecosystem and the programs in place to help small businesses succeed, including services through the SBDC / International Trade Center and programs like University of Illinois Research Park‘s Shared Services Program and the City of Champaign – Municipal Government‘s Small Business Incentive Program. To view media coverage, click here. To view video 1, click here. To view video 2, click here.

A Research Park startup is making great strides in providing healthcare providers with better diagnostic tools. The National Institue of Health’s Small Business Innovation Research program recently awarded Photonicare $2.1 million. This is not the first time the medical diagnostics startup has won significant funds and they intend to use this round for a several-hundred person study which will better help them earn FDA approval and bring the product to market next year. Photonicare founders, Ryan Shelton, Ryan Nolan, and University of Illinois Professor Stephen Boppart, believed that ear infections could be better detected if imaging technology were used to peer past the eardrum’s surface. Ear infections are a common affliction for children and when Shelton discovered this with his own child, he was inspired to help doctors make the best decisions with more accurate instruments. The tool can check against overdiagnosis and avoid unnecessary antibiotics. Photonicare was founded in 2013 and soon after began incubating at the Research Park’s EnterpriseWorks. They have utilized the tools at EnterpriseWorks to formulate plans and SBIR applications. More about the story can be found in this Crain’s Chicago Business article.