Welcome to our quarterly
University Technology Park e-newsletter, designed to give you quick updates
about new and growing companies within the Tech Park and to announce lectures,
workshops, and networking events.
I am thrilled to announce that the Illinois
Institute of Technology (IIT) was awarded a $4.5 million stimulus grant by the
Economic Development Administration
(EDA) to refurbish a building that will be
used as a technology incubator. It was the largest of the grants given in the
EDA's most recent round of funding and one of the largest it has ever given for
a technology incubator. More information on the
grant is available here
This funding, combined with a $2 million
matching grant from the State of Illinois, will enable the University
Technology Park at IIT (UTP) to complete 28,000 square feet of incubator space
that will house up to 30 start-up companies in the biotechnology and clean
technology industries. The design of the technology incubator space is
nearly complete, and UTP plans to start construction this fall.
If you have comments, questions or suggestions, drop me a line.
Director, University Technology Park at
New Tech Park Client: Therapeutic Proteins, Inc.
Therapeutic Proteins (TPI) has begun construction of a FDA cGMP compliant
manufacturing facility within the Technology Business Center (TBC) and plans to
begin operations in fall 2009. TPI produces biological Active Pharmaceutical
Ingredients (API), specifically recombinant proteins, for the pharmaceutical
TPI participates in regions of the global market where the sale of these raw
materials is allowed, and once the sale of them as generics is allowed in the
USA, which is likely to happen this year, TPI will sell them domestically as
According to Tom Flynn, CEO of TPI, the decision to locate in the University
Technology Park at IIT was an obvious choice. "We had many location
alternatives," he said, "but the combination of Wexford and UTP is rare
in terms of the array of services and support that was available to our
company." Like many other UTP clients, TPI also finds IIT students a great
resource, as its technology requires the highly trained and skilled team
members that a world-class university can provide.
Tom described TPI's experience with the UTP and Wexford staff as: "in two
words, most satisfying." He said that they have provided a
support level beyond expectations, with the management going beyond the
role of landlord to help with TPI's long term success.
TPI is now finalizing plans for expanding its headcount and participated in
IIT's Career Fair. Additionally, it is discussing a long-term relationship with
the IIT Research Institute (IITRI).
New IIT Tower Clients: Consumer Health Advisers, Inc. and NextGen Technology, Ltd.
Consumer Health Advisers, Inc.
Consumer Health Advisers offers consumer health management information
services to large, self-insured employers and their employees. The
enterprise focuses on maintaining a robust flow of reliable information
advice on their health and health care benefits to employees and their
dependents. The foundation of the firm is a web-based technology
platform called the Consumer Health Management Center (CHMC), which is
directly licensed to plan sponsors as an
NextGen Technology, Ltd.
NextGen Technology is a leading supplier of Bluetooth™ interoperability
testing solutions. The company works closely with some of the leading global
automotive brands to improve customer satisfaction, helps Bluetooth™ silicon manufacturers validate
their products against a wide variety of handsets worldwide, and assists cell
phone manufacturers with their interoperability testing requirements for
handsets. In addition to
BluetoothR testing services, NextGen produces a range of innovative
Bluetooth™ multimedia products that aim to significantly improve the in-car
multimedia experience for driver and passengers.
IIT Tower and Technology Business Center Offer Flexible Office Spaces for Start-Ups
|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 square feet) is
nearly full with a variety of software companies, and Co-op-South (2,201 square
feet) is in development. Combined the two Co-op spaces provide 11 offices, 7
cubicles and 2 conference rooms.
addition, space is being developed on the lower level of the Technology Business Center
that will work as a soft-landing space for international companies. It will
offer 3,424 square feet of furnished, flexible space with 7 offices (both
shared and private), a central copy area and reception desk, and short-term
Photo: Co-op South Conference Room
|Midwest Clean Tech 2009
Based on the success of the
first Clean Tech event in 2008, the Global Midwest Alliance, the Midwest Energy
Efficiency Alliance (MEEA), the Economic Development Council (EDC), the Federal
Reserve Bank of Chicago, the Midwest Research University Network (MRUN), and Bryan
Cave law firm are pleased to announce Midwest Clean Tech 2009, a program
exhibiting Midwest excellence in Clean Technology innovation, products and
services. Keynote and plenary sessions will address opportunities along
the innovation pipeline and relevant U.S. and international policy.
The event includes:
more information, please click here.
- Business market place
- Booths and a poster area
throughout the event - participants will be encouraged to visit all
- Facilitated one-on-one business
- Leading speakers from academia,
trade groups, policy makers, corporate entities, and financial firms
- Reception at IIT's University
Technology Park (UTP) with special tour of the Park, which has a focus on Clean
Technology company tenants. It also includes a special "soft
landings" area for international entities to set up a presence in North America.
- Optional tour to Argonne
National Laboratory - one of the U.S. Department of Energy's largest
- An Innovation Competition that
highlights emerging Clean Tech companies, allowing them to gain visibility
November 23-24, 2009
Federal Reserve Bank of Chicago
230 South LaSalle Street
University Technology Park at IIT
3440 South Dearborn Street