Skyline
News from the University Technology Park at IIT
In This Issue
In the News
Spotlight on Wexford
New Tech Park Client: ProOnGo
Ford Fusion Hybrid Drive Visits IIT
Upcoming Events
In the News

All Cell Logo
All Cell Technologies, LLC, a company that offers customized thermal management solutions for high power lithium-ion battery systems, was featured in news coverage on ABC7 and NBC5 for its partnership with MATRA to develop lithium ion batteries for light electric vehicles. Download the video clips here.

Following upon a successful Hybrid & Electric Vehicle Trade Mission sponsored by the French government in November 2008, the UTP hosted MATRA Manufacturing Services, Global Electric Motorcars (GEM - a Chrysler Company), and All Cell on April 6, 2009 as part of a press conference to announce their collaborative efforts to develop and promote electric vehicles. Download the press release here.


HEVT

Hybrid Electric Vehicle Technologies'
founder, president and CTO, Dr. Ali Emadi, was selected as one of fifteen Chicago Matters Global Visionaries who "are leading our region into the next century and putting our city on the global map." HEVT is a company that specializes in the design and development of hybrid and plug-in hybrid electric vehicle controllers. Read the full story here.


UTP Logo


The University Technology Park at IIT is a unique combination of wet and dry labs and office space that accommodates companies at every stage of growth and connects them to the outstanding research faculty and resources at one of the nation's leading universities, the Illinois Institute of Technology.


Wexford Logo

Wexford Science + Technology is a private real estate investment and development company that focuses on serving the real estate needs of university, healthcare, science and technology-based organizations.


Tech Park
Technology Business Center exterior.

Tech Park Interior
Technology Business Center atrium: upper level.

Tech Park
Technology Business Center atrium: lower level.
Issue: #10 Spring 2009
Greetings!

Welcome to our quarterly University Technology Park e-newsletter, designed to give you quick updates about new and growing companies within the UTP and to announce lectures, workshops, and networking events. New developments include:

Saarland Technology Corporation Collaboration
Recent collaboration between IIT and Germany's Science Park Saar/INM - Leibniz Institute for New Materials culminated in a sustainable innovation workshop on applying nanotechnology to next-generation building materials, which was held in the Technology Business Center on April 24th. Further, the Saarland Technology Corporation is establishing a marketing office within the UTP to extend the commercialization of its nanotechnology into U.S. markets. This is UTP's first international soft-landing client. For more information, click here.

Co-op Space
In addition to supporting start-ups with wet and dry lab space within the Incubator building, UTP has opened furnished offices and cubicles (with dedicated conference rooms) for emerging companies within the IIT Tower at 10 West 35th Street.  This space is referred to as the UTP Co-op. Co-op-North (1,651 sq ft) is nearly full with a variety of software companies, and Co-op-South (2,201 sq ft) is in development.

TechAdvantage@IIT
UTP, in conjunction with IIT's Department of External Affairs, Office of Community Affairs and the Jules F. Knapp Entrepreneurship Center, as well as O-H Community Partners, is launching TechAdvantage@IIT, a Small Business Administration-funded initiative that provides targeted business assistance to minority- and women-owned, technology-based businesses located in the area surrounding IIT. More information on TechAdvantage@IIT will be available soon at http://techadvantage.iit.edu.  Our thanks go to Congressmen Bobby Rush for his support of this initiative.
 
If you have comments, questions or suggestions, drop me a line.

Sincerely,
Daniel F. Marselle
Director, University Technology Park at IIT
marselle@utp.iit.edu

Spotlight on Wexford Science + Technology
Leasing space is one of the most difficult decisions CEOs/CFOs make. This is particularly the case with start-up companies, in which owners/managers have a hard time thinking as far ahead as traditional leases stretch.  This decision is further complicated for science and technology based organizations, which often have very unique space needs that can include wet and dry labs and specialized equipment. Unfortunately, connecting with engineers and designers to custom build out space can be extremely costly.

Wexford Science + Technology is the developer of the 126,000 square feet Technology Business Center (TBC) within UTP at IIT, and it specializes in providing a combined real estate and service solution for technology commercialization companies that meets both of these needs, plus facilitates a third benefit: university access. IIT provides UTP clients with human capital and core resources, while IIT benefits from real-world experience for its students through jobs with UTP clients.

Wexford's approach is to connect tenants with the UTP and IIT early in their relationship. All three form a community of like-minded people who share the common goal of getting start-ups off the ground, attracting capital to them, and helping them grow.

Wexford assesses a new client's needs and goals, and then assembles a core project development team, including leading architects and engineers to facilitate the design process for the space, which helps to keep costs down.  Wexford will fund build out and customization to a certain level and leverages financial incentives such as historic tax credits, tax increment financing, and public economic development programs.

This strategy has led to increase in interest in the TBC, with negotiations currently underway on two floors of the building. At present, 36% of the TBC is occupied, and Catherine Vorwald, Director of Business Development for Wexford, estimates that 70% of the UTP will be leased by the end of 2009.

As a developer, Wexford is unique because it focuses solely on university technology parks and invests for the long-term.  "The relationships formed with the sponsor universities are crucial to the success of the technology park, and Wexford has a great relationship with IIT," states Catherine.

Wexford Science + Technology has 1.5 million square feet of space in the U.S. Led by a seasoned team of real estate, finance and engineering experts, it is a privately held company based in Baltimore, Maryland.

New Tech Park Client - ProOnGo
The University Technology Park welcomes its newest client, ProOnGo. Founded in 2008 in Chicago, ProOnGo helps mobile professionals manage and submit ProOnGo Logotheir business expenses with ease and efficiency, moving beyond traditional expense reporting processes that are time-consuming and frustrating.
 
Expense reporting can be as easy as snapping pictures of receipts with a smartphone.  ProOnGo's solution digitizes the receipts, gathers the merchant name, date, and expense amount off of each receipt, and makes the resulting expense report available within minutes in a variety of formats.
 
Although ProOnGo was founded at University of Chicago and was a finalist in its 2008 New Venture Challenge, the company's founder and CEO, Phillip Leslie, was drawn to the UTP in January this year due to the immense quality and quantity of engineering talent at IIT. He states, "Our partnership with IIT has been even better than we imagined: every time we post an internship position, we are flooded with candidates that are eager to work with us and talented in the exact areas of software development on which we focus."
 
If you know anyone that is struggling with "traditional" expense reporting processes and is looking for a better way to manage them, give them a personal introduction to the ProOnGo team. Their service is available to the general public for free trial at www.ProOnGo.com.

Ford Fusion Hybrid Drive Visits IIT
The Ford Fusion Hybrid Drive visited the UTP on Tuesday, May 12th as part of a 40-city national tour. John Vierra, Director of SustFord Fusion Hybridainable Business Strategies at Ford Motor Company, gave a presentation in the TBC atrium on Ford's plans to introduce vehicles with better fuel efficiency in the US. A new Fusion Hybrid was available for test drives after the presentation.

David Baker, Executive Director of the UTP and Vice President of External Affairs for IIT, stated that the UTP was pleased to participate in the tour, as it is currently partnering with MobilitÚ et Transports AvancÚs, a French automotive competitiveness cluster in Western France, and the Economic Development Agency of Western France to develop a shared International Hybrid and Electric Vehicle Technology Hub. Ford's strategic vision complements that of the Hub: the advancement of research and development of hybrid and electric vehicle technology.
 
Upcoming Events
Connectiviity
Please join the Jules F. Knapp Entrepreneurship Center, the University Technology Park at IIT, and Wexford Science + Technology for our monthly networking event on Thursday, May 28th!

Connectiv
iity brings together the entrepreneurship community both within IIT and the greater Chicagoland area and provides the opportunity to network and share experiences with fellow entrepreneurs. Whether you are currently an entrepreneur or are considering starting a business, this event can help you make the connections you need to get your new venture started or grow your existing business. Come explore what the Knapp Center, University Technology Park, Wexford and IIT have to offer!

Refreshments will be served. There is absolutely no charge for this event. For more information, contact Jennifer Keplinger at keplinger@iit.edu.
 
Event Info
4:00 - 6:00 p.m.
May 28, 2009

Technology Business Center Atrium
University Technology Park at IIT