Creating Infrastructure for Tech Parks

CREATING THE INFRASTRUCTURE FOR INCUBATORS AND TECHNOLOGY PARKS

Perm, Russia, May 6, 2014

PRESENTATION OUTLINE

•Incubators and Technology Parks in the US

•History: Creation of University Technology Park at IIT and funding strategy

•Services provided to start-ups

•Linking to the innovation ecosystems for life sciences and clean energy

INCUBATORS AND TECHNOLOGY PARKS IN THE U.S.

•170 university research parks in US

•First one—Research Triangle Park—dates from 1950s

• incubators—spaces for early stage start-ups to be established and grow

-Often linked to research parks

DEFINING UNIVERSITY RESEARCH (TECHNOLOGY) PARKS

•Property master plan—for commercialization of technology

•Linked to university or research institution

•Support existing technology companies

•Encouraging growth of new companies

•Technology transition from laboratory to market place

•Focus on technology-based economic development

•Support industry clusters

UNIVERSITY TECHNOLOGY PARK AT IIT: OVERVIEW

Ideally situated in the heart of Chicago

Connects companies with faculty, students and resources at Illinois Institute of Technology

Specifically designed with science & technology businesses in mind

A unique combination of wet labs & dry labs & office spaces, accommodating companies at every stage of size and growth – from incubation to growth companies

UTP AT IIT LOCATION: CONVENIENT TO DOWNTOWN CHICAGO

HISTORY OF UNIVERSITY TECHNOLOGY PARK

•Conceptualized in 2001

•Initial funding: $12 Million for tech incubator

•2004-private developer partner—Wexford Science and

Technology

•University contributed $30 million

•2006-opened Technology Business Center for growth companies ($60 million)

•Private equity, mortgage, federal historic tax credits, city tax increment financing

•2011—completed incubator-federal stimulus funds and state grant

UNIVERSITY TECHNOLOGY PARK TODAY

•24 companies-life sciences, energy, materials, ICT

•400 employees

•Three companies/graduates with over 100 employees to date

•30 graduates

•$220 million raised by companies to date

•$120 million in construction expenses

•$500,000 operating budget—from rents

UTP MASTER PLAN

Phase I: 4-Building Complex ($120MM)

Incubator

North: 4 wet labs (5,000 sq. ft.)

South: 15 wet labs, 9 dry labs & 6 offices (28,000 sq. ft., completed June of 2011)

Technology Business Center (TBC)

Build-to-suit labs & offices

Full conference center

IIT Tower

Commercial office space

IITRI: Pre-clinical CRO

UTP FOCUS ON LIFE SCIENCES AND ENERGY

Start-ups

Growth companies

International companies seeking North American markets