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UNIVERSITY OF ILLINOIS URBANA-CHAMPAIGN

Research Park

    Research Park

    Media Mentions News Research Park

    Statement Regarding the Sale of Research Park Buildings

    STATEMENT ON BEHALF OF THE UNIVERSITY OF ILLINOIS AND UIRP, LLC REGARDING THE SALE OF RESEARCH PARK BUILDINGS The Research Park at the University of Illinois at Urbana-Champaign has been successfully developed as a public-private partnership with Fox/Atkins Development LLC since 2001. The Research Park has reached record employment and occupancy rates as a reflection of the vibrant technology community that includes a mix corporate innovation centers, startup companies, and university partnerships. The overall Research Park currently includes 16 buildings, more than 120 companies, and 2,100 employees. Fox/Atkins has identified a buyer for some of the buildings in the Research Park. The land will remain University property and the overall management remains under the leadership of the University of Illinois Research Park, LLC, whose sole member is the University of Illinois Board of Trustees. The new owner of the buildings will retain Champaign, IL based FDC LLC, the leasing and property management company of Fox/Atkins Development, to provide all the tenant services and leasing for the buildings being acquired. The leadership of the University and the UIRP,LLC has been very involved in this potential purchase to ensure as much of seamless transition as possible. The overall Research Park operations will remain led by a full-time team of University of Illinois employees that will continue the programming, marketing, company relationships, and planning responsibilities of the Research Park. The purchase does not impact the operations of EnterpriseWorks incubator, the iHotel and Conference Center, and buildings with other private ownership. The purchase has the opportunity to bring new investment to the Research Park and is a reflection of the positive performance of the overall real estate development. The current development agreement with Fox/Atkins Development remains in place through 2021. The UIRP LLC has not yet provided formal consent for the new buyer, a Chicago-based institutional manager of real estate investment funds, to receive a transfer of the ground lease agreements. The due diligence process is underway. The University of Illinois is enthusiastic to continue the growth of the Research Park as an economic development priority. MEDIA COVERAGE: UI Research Park developer selling majority stake to invest in expansion, News-Gazette

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    News Recognition & Awards Research Park

    Photonicare awarded $2.1 million SBIR funding for patient trials

    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.

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    News Recognition & Awards Research Park

    Augmented Reality Technology Grows at AGCO’s Acceleration Center

    Big companies with small teams in Champaign-Urbana are often at the heart of industry innovation. In January of 2019, AGCO opened their Acceleration Center in University of Illinois Research Park. Site Director Lena Head (below, cutting the grand opening ribbon) promised that the team would “explore new ways to help farmers build smarter, stronger farms” while the center provided its student interns with “valuable growth opportunity to work on real-life projects with a global agriculture company.” AGCO, a Fortune 500 agriculture company developing farming tools, processes and storage systems, is well positioned to offer just that. Also speaking to the cutting-edge role of the Acceleration Center, Adam Weiss, a GSI director at the time, stressed that the center was designed to focus on both web development innovation and “big swing” projects. He described the latter as “research on things that in a public company you traditionally wouldn’t spend the time or resources to focus on. Long-term strategic things that may not even pan out.” Thus, the Champaign-based team was built to “take big swings and explore things that we typically wouldn’t.” Perhaps the best “big swing” of the office yet is in the realm of mixed-reality technology which may afford industry-insiders a new way to see agriculture. In a February interview to Illinois Farmer Today, then- AGCO Acceleration Center intern Rahul Surti expressed excitement about his work in augmented reality. “We are bringing 3D models of agricultural equipment to life in mixed reality,” he explained. As a Chicago-land native, Surti does not have a farming background but he found the 3D modeling agtech project impressive. While not ripe yet, the fruit of AGCO’s Acceleration Center has people buzzing. Adam Abels is from Iowa-based Ag Advantage Systems and he sells and installs GSI grain systems. Recently, he demonstrated GSI’s mixed-reality technology for an Iowan farmer, Jeff Divan, who was excited about the possibilities. Through goggles, Divan explored a 3D grain facility augmented over his real surroundings and expressed excitement. If that sounds hard to imagine, think about how Pokémon Go suggests a virtual reality over true surroundings but in 3D. Divan explained that the technology “really allows me to see how our farm’s storage system can expand. And this approach gives me confidence in the design.” AGCO’s Champaign-based team helped develop the technology in this demo. GSI Director of Global Learning and Development, Lance Brown, pinpoints the utility of such technology for GSI clients: “The customer can actually see the facility and get a sense of the scale, determine if a change is needed, and make that change before any work is done.” AGCO’s team has grown since January. Thanks to many of the factors which make Champaign-Urbana a strong tech and research area, Director Lena Head continues to coordinate her team’s “big swings.” To learn more about the AGCO Acceleration Center, watch the grand opening video here. For more on the GSI’s use of the technology click here.

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    News Partnerships & Acquisitions Research Park

    Research Park Startup Agrible Acquired by Nutrien for $63 Million

    CHAMPAIGN, Ill. — Nutrien, a publicly traded Canadian fertilizer company, announced its plans to acquire Research Park startup Agrible for $63 million on Monday. The deal is expected to close by the end of the month. Agrible, a precision analytics company, analyzes and provides agronomic information using science and technology to transform results into useful knowledge. Agrible had raised more than $13 million in venture capital, and was twice named to the THRIVE 50, an annual list created by SVG Partners that ranks the best AgTech companies in the United States. Its tools have 17,000 grower users that represent approximately 11 million acres in aggregate. “The acquisition of Agrible is consistent with our strategy of investing in the growth of Nutrien’s Retail business to further strengthen and differentiate our leading global position,” said Chuck Magro, President & CEO of Nutrien in a news release. “We expect to recognize significant strategic and financial benefits from the transaction by leveraging Agrible’s capabilities to deliver unique, value-enhancing solutions across our Retail network.” Founded in 2012, Agrible now has 55 employees and is headquartered in Champaign at the University of Illinois Research Park. It is a graduate of the Research Park’s EnterpriseWorks tech incubator. The company is a true local success story. Agrible has collaborated with multiple Research Park companies, including working with Anheuser Busch InBev on forecasting barley yield; with John Deere on mobile apps; and received investment from ADM. Its first customers and users were located in Central Illinois. Its lead investor, Serra Ventures, starting from seed round through its Series B, is also based in the Research Park. In addition to named investors such as Flyover Capital and Maumee, multiple local angel investors had participated in Agrible’s various raises. The startup acquistion is one of the largest in the state of Illinois this year, trailing only Home Chef ($200 million) and Maestro Health ($155 million). “Agrible has dedicated its business strategy and development activity to building market-leading data science and digital tools that provide growers with the information and insights they need, when and where they need them,” said Paul Miller, Chief Science Officer & Co-Founder of Agrible in a news release. “We have a strong fundamental belief that the most effective means of scaling and delivering the value of Agrible’s tools is by leveraging and empowering the important role that agricultural retailers play in supporting growers’ ability to sustainably maximize crop production. As a result, this exciting combination with Nutrien Ag Solutions is the ultimate validation of our strategy and the ideal platform to significantly scale-up the capabilities that we have built, while continuing to grow and enhance the value we provide our global sustainability customers.” Agrible was founded by Chris Harbourt, Paul Miller and Bill Northcott, three PhD scientists who are University of Illinois at Urbana-Champaign alumni. The company, then called Ag Informatics, moved into the incubator in early 2014. With the help of resources available through EnterpriseWorks and Research Park, Agrible launched Morning Farm Report and made important connections in the community with growers and other Research Park companies. It graduated from EnterpriseWorks in late summer 2015 and moved into custom constructed space at 2021 S. First Street in the Research Park, where it remains today. Agrible timeline:  2018: July: Nutrien Announces Acquisition of Agrible for $63 millionJanuary: Named to the THRIVE 50, an annual list created by SVG Partners that ranks the best AgTech companies in the United States, for the second time. 2017:September: Announces formal partnership with AB InBevSeptember: Announces Series B funding, $9.7 million. The first close was led by Maumee Ventures, the venture arm of The Andersons grain handling company. Other investors: iSelect Fund, Flyover Capital, Archer Daniels Midland, Serra VenturesJanuary:  Named to the THRIVE 50, an annual list created by SVG Partners that ranks the best AgTech companies in the United States. 2016:Summer: Agrible and AB InBev began work together to forecast barley yield and quality factors through better crop modeling and predictive analytics for American farmers, announce global partnership in September 2017.May: Announced that Morning Farm Report received an Ag Data Transparent seal backed by the American Farm Bureau Federation and the National Farmers Union. 2015:November: Celebrates Grand Opening of a new office in the University of Illinois Research ParkJuly: Announced $4.1 million Series A round of funding, led by Serra Ventures. Co-investors include ADM and Flyover Capital.March: Company wins the 2015 Innovation Celebration New Venture Award (VIDEO HERE)February: Launched Morning Farm ReportCompany changes it name from Ag Informatics to Agrible. 2014:April: Raises seed funding from Serra Ventures.January: Company enters the EnterpriseWorks incubator. 2012: Company Founded. For more news on the deal: Fox IllinoisThe News-GazetteAmericanInnoPrecisionAgPR NewswireChicago Business Journal

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    Events News Research Park

    2018 Table Tennis Tournament Was a Hit

    The 2018 Research Park Table Tennis Tournament was a great success yet again. There was a huge turnout of 96 participants as well as many spectators who cheered on their coworkers, family members, and friends. After hours of playing with high tensions and high stakes, Oath came out victorious and took home the coveted golden paddle. Congratulations to everyone who participated and to all of our winners. Here is a full list of winners from each category: Beginner: Aneesh Mysore (Country Financial) PoHeng Chen (Oath) Yong Jin (YJ) Kim (Syngenta) Intermediate: Kedar Gundlupet (Oath) Xi (Daisy) Chen (Oath) Abish Abraham (Gartner) Advanced: Allie Wafta (Oath) Nilam Sharma (Oath) Yong-Bin Kim (Caterpillar) Golden Paddle Winner: Oath  

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    News Research Park

    New study highlights immigrant contribution to Champaign’s STEM workforce

    A first-of-its-kind study shows that Champaign County’s STEM workforce is bolstered by immigrants. Data collected in the “New Americans in Champaign County” published by the University YMCA shows that 1 in 4 STEM workers are immigrants but make up just 11.6 percent of the county’s overall population. We, at the Research Park, are proud that ideas from all over the world meet here. Throughout the year, we celebrate this international community at events that mark significant holidays. Further, we eagerly supported the University YMCA’s study alongside the City of Champaign, City of Urbana, and Champaign County Economic Development Corporation. The infograph below illustrates the county’s diverse immigrant population. The study tells us about the influence of the university in ways other immigrant reports do not because it defines “immigrant” as “Anyone not born to a U.S. Citizen, regardless of current status.” Thus, the analysis includes students on non-immigrating visas – many of whom take internships, found start-ups and/or graduate to full-time positions in the Research Park ecosystem. The authors’ summary conveys a clear theme similarly felt in the Research Park ecosystem: The message of this report can be encapsulated in one word: interdependence. Far from ‘aliens’, immigrants are our neighbors, colleagues, and friends, and as this report illustrates, what affects them will impact the entirety of our community–immigrant and U.S.-born. For more information on the New American Welcome Center, visit their website HERE.

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    News Research Park

    Illinois Ignite to feature faculty startups

    At Research Park, we are proudest of researchers who meaningfully connect their work to the world’s felt needs. The inaugural Illinois Ignite tech showcase in Rosemont, IL will demonstrate how Illinois’ prominent research universities do precisely that. Start-ups and technology growing out of these research institutions are significantly affecting the fields of oncology, neuroscience, artificial intelligence, security, robotics, and advanced materials. Of the more than 35 tech-based entrepreneurial faculty presenters, six University of Illinois at Urbana-Champaign faculty co-founders who graduated or are currently incubating start-ups in the Research Park will present. Brighten Godfrey Associate Professor of Computer Science Faculty co-founder of EnterpriseWorks graduate: Veriflow Speaking on “Continuous Network Verification and Congestion Control” Mani Golparvar Fard Assistant Professor in Civil Engineering and affiliate in Computer Science Faculty co-founder of EnterpriseWorks tenant: Reconstruct Speaking on “Geometry- and Appearance-Based Reasoning of Construction Progress Monitoring” Stephen Boppart Professor in Electrical and Computer Engineering, and Bioengineering Faculty co-founder of EnterpriseWorks tenant: PhotoniCare Speaking on “Stain-Free Slide-Free Histopathology Platform with Biomarkers of Cancer” Wen-Mei Hwe Professor of Electrical and Computer Engineering Faculty co-founder of EnterpriseWorks graduate: MulticoreWare Speaking on “Game Changing AI and Block Chain Systems at the IBM-Illinois Center for Cognitive Computing Systems Research (C3SR)” Rashid Bashir Professor of Electrical and Computer Engineering, and Bioengineering Faculty co-founder of EnterpriseWorks tenant: Prenosis Speaking on “Analysis of Blood and Tissue Using Chip Scale Sensors” Paul Braun Professor of Materials Science and Engineering Faculty co-founder of EnterpriseWorks graduate: Xerion Advanced Battery Corp. Speaking on “Paradigm Changing Materials for Energy Storage” Topics you don’t want to miss: Social Good & Sustainability Data Analytics & Robotics Materials by Design What’s Next in Blockchain, Security & Artificial Intelligence Frontiers in Neuroscience Breakthroughs in Oncology

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    Media Mentions News Recognition & Awards Research Park

    UI Chancellor Jones praises the Research Park as “wildly successful”

    In an event Tuesday, May 22 at the I Hotel and Conference Center, UI Chancellor Robert Jones presented and answered questions on the university’s plans to expand private-public investment in research and entrpreneurial programs. He assured the approximately 100 community leaders present that the UI Research Park will continue to have a major role in future public-private research partnerships. Promising to expand the UI Research Park, he called the park already “wildly successful.” Director of the Research Park, Laura Frerichs, attended the event and live-tweeted the Chancellor’s speech: “Our Research Park is the most important and visible innovation hub in IL, it’s the most transformative university research park model in the US.” The talent pool from Chicago is not the only ingredient the Champaign-Urbana innovation community can look forward to. Chancellor Jones highlighted that the UI incoming freshman class may break the record number of 7,592 enrolled in 2016. Additionally, 32 students have been enrolled in the soon-to-be-opened Carle Illinois College of Medicine which he expects will “revolutionize health care, how medicine is taught and how medicine is practiced.” When discussing the impending implementation of a future business and community advisory council to the UI, the chancellor stated that “A great university must start on the shoulders of a great community.” He confirmed the motivation behind the council by acknowledging “We’re investing in the community, but we need to do more.” “We must work together. The university must make a difference in the world, and that difference has to start here in Urbana-Champaign.” Read more about the meeting in the News-Gazette.

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    Graduates Media Mentions News Research Park

    Three Research Park Alums make the Crain’s 20 In Their 20’s List

    Research Park alums took over the Crain’s 20 In Their 20’s List. Three companies that spent time in the Research Park were  Dan Klein with Tiesta Tea, Ashley Moy with Cast21, and Lucas Frye with Amber Agriculture all made the list for their outstanding development in innovation and technology. Klein and Moy were both graduates from the EnterpriseWorks incubator here at the University of Illinois Research Park and Frye spent a year in the Research Park Developing his company. Tiesta Tea started its journey in the EnterpriseWorks incubator at the University of Illinois Research Park. Klein shared with Crain’s that the idea for his company came when he was in a teahouse in Prague and “couldn’t understand why the fruity, flavor-packed loose-leaf varietal he was sipping wasn’t widely available in the U.S.” From there his company hasn’t stopped growing and is expecting a revenue of around $8 million this year. Cast21 was another company that began its journey in the EnterpriseWorks incubator. Moy’s company started as a senior design project. The idea for Cast21 was based off of the experiences of Moy’s cofounder, Jason Troutner. Troutner had spent a lot of time in uncomfortable and impractical casts due to injuries and he and Moy wanted to change that experience for those in the future. The team created a cast that was breathable, waterproof, and more accessible. The cast has a web-like design that can be moulded to the wearer’s hand and allows them to do more with the cast on, like take a shower easily. Moy plans on putting the cast through medical testing and hopes the cast will make it to market later this year. Although Lucas Frye and Amber Agriculture only spent a year at the Research Park, they left their mark on Champaign-Urbana and took home the 2016 Cozad New Venture competition prize. Frye grew up in a very small farming town and used that to his advantage to create a device that measures moisture for grain, one of the most important elements in successfully achieving a good crop. Read more about the companies in Crain’s article here.  

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    News Research Park

    AXIS Capital and Gies College of Business Establishes the AXIS Risk Management Academy

    AXIS Capital, a global specialty insurer and reinsurer located in Research Park, has partnered with the University of Illinois Gies College of Business to establish the AXIS Risk Management Academy, which will “provide Illinois students who are interested in pursuing a career in risk management with research and professional development resources and experiences to suprport their undergraduate work.” AXIS Capital opened at their research center at Research Park in 2013, and plans on contributing $1.5 million towards the new academy.  Albert Benchimol, President and CEO of AXIS Capital, told Yahoo News that, “We wish to help develop a new generation of professionals within the field in order to bring emerging ideas forward that will ensure the continual and effective management of risk in society…we are very pleased to grow our relationship with the University of Illinois, one of the top finance and actuarial schools and a leader in (re)insurance research and education.” Read the full story on Yahoo Finance.

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