Research Park at the University of Illinois Urbana-Champaign

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Research Park at University of Illinois Urbana-Champaign
University of Illinois Research Park Aerial View 2017.jpg
Aerial View of the University of Illinois Research Park
Research Park at University of Illinois Urbana-Champaign
60 Hazelwood Drive
Champaign, Illinois, 61820
Information
Established1999
Area663,000 sq-ft
Companies100+
Structures17
Employees2100+
Student Interns800+
Website Official Site
University of Illinois Urbana-Champaign

Research Park at the University of Illinois Urbana-Champaign is a research park located in the southwest part of the University of Illinois Urbana-Champaign campus in Champaign, Illinois. Research Park is a technology hub for startup companies and corporate research and development operations. Within Research Park there are more than 120 companies employing more than 2,100 people including students and full-time technology professionals.

Contents

Multinational and publicly traded corporations in the Research Park include: ADM, Abbott Laboratories, AbbVie, Ameren, AGCO, bp, Bayer, Brunswick, Capital One, Cargill, Caterpillar, CME Group, Corteva, Deere & Company, Kohler, Littelfuse, Motorola Solutions, Nutrien Ag Solutions, NVIDIA, Riverbed, Rivian, State Farm, Synchrony, and Yahoo (Verizon Media Group).

Research Park is also home to over 50 startup companies that are commercializing technology. EnterpriseWorks, the Research Park's 43,000-square-foot business incubator for early-stage tech firms, is operated by the University of Illinois to help launch successful startup companies.[ citation needed ]

History

I-Hotel located within Research Park in Champaign, Illinois I-Hotel Champaign.jpg
I-Hotel located within Research Park in Champaign, Illinois

Research Park gained the approval of the board of trustees in November 1999 and established its governance with the University of Illinois Research Park Limited Liability Company in March 2000. The Research Park opened its first building in 2001 and grew into a 200-acre technology hub for corporate research and development operations.

In 2003, the State of Illinois provided funding to build the EnterpriseWorks Incubator, a 43,000 square-foot business technology incubator for early-stage tech firms, and the first tenants moved in during early 2004. In May 2000, the University entered into a partnership with Fox/Atkins who now leases the land from the university and constructs customized buildings for Research Park's tenants. The company is responsible for transforming the land from fish ponds, agricultural fields, and livestock barns. [1]

By 2004, the Research Park hosted 35 tenants, 702 employees and 5 buildings. [2]

New Developments

The next phase of development in the new master developer agreement is to add 160 acres of additional land east of the main Research Park area. The total operation in Research Park annually contributes $4.1 million in tax revenues to the state of Illinois. The total construction over 10 years contributed $7.2 million in state tax revenue. [2]

The Research Park Master Plan, adopted in September 2018 by the University of Illinois Board of Trustees, aims to double its size and continue attracting more companies, employees, and private development.

This vision is a concept for a new building that would address two known factors impacting the future growth of the Research Park. The first being a lack of adequate lab facilities for growth-stage startup companies, in the community and throughout the state of Illinois; secondly, the need for additional Research Park community spaces providing an environment for creative collisions between the companies, employees, and faculty. [3]

EnterpriseWorks Incubator

EnterpriseWorks Incubator located in the University of Illinois Research Park EW incubator.png
EnterpriseWorks Incubator located in the University of Illinois Research Park

The EnterpriseWorks Incubator provides a bridge between the research of the University and the commercialization of technology by university faculty, researchers, and students. The award-winning incubator provides free counseling services to technology entrepreneurs and facilities such as laboratories, offices, conference rooms, kitchen, and co-working space. The Entrepreneur-in-Residence program is a free service provided by Research Park which consists of 7 experience tech entrepreneurs who provide monthly consulting to new startup ventures and prospective entrepreneurs. [4] Research Park and the EnterpriseWorks Incubator hold educational, training, social, and networking events to facilitate a community feel while providing a place where the newest startups have the opportunity to develop relationships with established national and international corporations.

The incubator has basic labs as well as full fit-out labs for chemical and life science companies. All leases in EnterpriseWorks last one year; renewal is based on company progress and the continued need for services.

In addition to office and lab space, EnterpriseWorks offers complementary conference room space to its tenants. Rooms for groups from six to 30 persons are available by reservation. Kitchen and vending services are also on-site. [5]

Notable tenants

John Deere at the University of Illinois Research Park John Deere at UIRP.png
John Deere at the University of Illinois Research Park

As of 2019, 24 percent of startups at EnterpriseWorks have been founded by University students, while startups led by faculty and staff members account for 55 percent. [6]

Notable graduates

Awards

Recent company openings

Chancellor Phyllis Wise at the Ameren Innovation Center Grand Opening at the University of Illinois Research Park Chancellor Phyllis Wise at the Ameren Innovation Center Grand Opening at the University of Illinois Research Park.png
Chancellor Phyllis Wise at the Ameren Innovation Center Grand Opening at the University of Illinois Research Park

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References

  1. ↑ "Developer Partnership | Research Park". Researchpark.illinois.edu. Archived from the original on February 24, 2015. Retrieved May 3, 2017.
  2. 1 2 "History - Research Park". researchpark.illinois.edu. Archived from the original on February 24, 2015. Retrieved March 4, 2015.
  3. ↑ "A Vision for "Research Park Commons" and EnterpriseWorks Incubator Expansion - Research Park". researchpark.illinois.edu. February 4, 2019. Archived from the original on April 4, 2019. Retrieved April 4, 2019.
  4. ↑ "Entrepreneur in Residence Program | Research Park". Researchpark.illinois.edu. Archived from the original on March 7, 2015. Retrieved May 3, 2017.
  5. ↑ "EnterpriseWorks - Research Park". researchpark.illinois.edu. Archived from the original on April 4, 2019. Retrieved April 4, 2019.
  6. ↑ Anand, Vishesh (January 31, 2019). "University incubator promotes startups". Archived from the original on April 4, 2019. Retrieved April 4, 2019.
  7. ↑ "EnterpriseWorks Receives Award from SBA Growth Accelerator Fund Competition | Research Park". Researchpark.illinois.edu. August 5, 2015. Archived from the original on September 25, 2015. Retrieved May 3, 2017.
  8. ↑ "Urbana recognized as a top city for startups - Wandtv.com, NewsCenter17, StormCenter17, Central Illinois News". Wandtv.com. January 14, 2015. Archived from the original on March 7, 2015. Retrieved May 3, 2017.
  9. ↑ "3 College-Town Incubators to Watch". Inc.com. May 22, 2013. Archived from the original on July 15, 2013. Retrieved May 3, 2017.
  10. ↑ "The Research Park at the University of Illinois Urbana-Champaign - pg.8". Forbes.com. Archived from the original on July 30, 2017. Retrieved May 3, 2017.
  11. ↑ "Inc.com Selects EnterpriseWorks as a Top 10 Start-up Incubator to Watch | Office of Technology Management, Urbana-Champaign". Archived from the original on July 18, 2013. Retrieved June 28, 2013.
  12. ↑ "AURP Awards of Excellence 2014". Aurp.net. Archived from the original on April 4, 2013. Retrieved May 3, 2017.
  13. ↑ "Ten Technology Incubators Changing The World". Forbes.com. Archived from the original on October 8, 2017. Retrieved May 3, 2017.
  14. ↑ "BP Opens New Center at the University of Illinois to Develop Sustainable IT Solutions | Research Park". Researchpark.illinois.edu. April 2, 2019. Archived from the original on April 4, 2019. Retrieved June 2, 2019.
  15. ↑ "Synchrony Opens Emerging Technology Center at Research Park - Research Park". researchpark.illinois.edu. April 10, 2018. Archived from the original on April 4, 2019. Retrieved April 4, 2019.
  16. ↑ "News". www.businesswire.com. February 2018. Archived from the original on April 4, 2019. Retrieved April 4, 2019.
  17. ↑ "AGCO Opens Acceleration Center at Research Park - Research Park". researchpark.illinois.edu. January 24, 2018. Archived from the original on April 4, 2019. Retrieved April 4, 2019.
  18. ↑ "COUNTRY Financial DigitaLab Grand Opening | November 3, 2017 | Research Park". researchpark.illinois.edu. Archived from the original on June 12, 2018. Retrieved June 12, 2018.

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