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, conferences, and networking events of interest to the Tech Park community.
The Tech Park is pleased to receive $1.2 million from the Illinois Department of Commerce and Economic Opportunity and $0.8 million from the Illinois Board of Higher Education. This $2 million provides local match funding for the $4.5 million U.S. Economic Development Administration construction grant for the 28,000 square foot Incubator-South building
. Construction is scheduled to begin in fall 2010.
Three new companies now make the Tech Park their home: Sword Diagnostics
, Medtech BioScience
. In this issue, we'll cover
Sword Diagnostics in detail.
If you have comments, questions or suggestions, drop me a line.
Director, University Technology Park at
New Tech Park Client:|
The Tech Park welcomes its newest
client, Sword Diagnostics, a life sciences company committed to improving
healthcare through the use of innovative detection technology. Its offices are located on the 2nd floor of the Technology Business Center.|
customers are life science researchers, pharmaceutical drug developers and
clinical diagnostics companies with a need for high performing biological
detection technology. Diagnosis and treatment of many diseases depend on
identifying biomarkers or disease markers that indicate the presence of disease
in the body, from asthma to cardiac disease to cancer. Sword has developed a
detection kit that assists researchers in identifying disease markers early
without the need for expensive instrumentation or costly, time-consuming test
"Diagnostics today are just not
sensitive enough to identify disease markers as early as needed. Just imagine if the proteins secreted from a
tumor were detectable when the tumor was only 1/10th of the size
currently needed for detection?"
- David Dingott, CEO, Sword Diagnostics
CEO David Dingott states that Sword Diagnostics was attracted to the Tech Park because it not only provides a
larger, more flexible environment for its team but also the metropolitan
location necessary to attract top talent - all key factors in its continued
growth. The company's staff looks forward to collaborating with IIT
researchers and other companies at the Tech Park and in the Chicago area.
As a high growth,
early stage company, Sword Diagnostics is looking for additional partners and
collaborators to utilize its technology in new tests and new markets, talented
individuals with the backgrounds and expertise that will help it grow, and investors,
board members and advisers to help guide and support its growth. To learn more
about Sword Diagnostics, visit www.sworddiagnostics.com or contact David Dingott at 312-235-3660.
|Invest in Spain Technological Fund||
|The Invest in Spain Technological Fund has been established to aid innovative foreign companies set up operations in Spain. Grants up to 200,000 Euros are available. Companies that are already established in Spain but wish to begin research and development activities are also eligible for funding.|
The Technological Fund is a special area of funds from the European
Union created to promote business research and development in Spain for the
2007-2013 period. The deadline for submitting an application for funding is September 30, 2010. For more information, please visit the Invest in Spain website.
|Save the Date: Midwest CleanTech 2010||
Midwest Clean Tech 2010 will be held in Chicago on September 14-15, 2010 in conjunction with the International Manufacturing
Technology Show at McCormick Place Convention Center.
Global Midwest Alliance, The Midwest Research University Network,
and Brinks Hofer Gilson & Lione invite you to a program exhibiting Midwest
excellence in clean technology innovation, products and services - connecting innovators
with financiers, business management expertise, and the international
For more information, visit www.midwestcleantech2010.com.
|Call for Entries:|
Brinks Innovation Competition
Global Midwest Alliance, The Midwest
Research University Network, and Brinks Hofer Gilson & Lione are sponsoring the 2010 Brinks
Innovation Competition, which is being held as part of Midwest Clean Tech 2010.|
Now in its second year, the Brinks
Innovation Competition was created to help emerging and venture-ready clean
tech companies gain visibility and make connections. The Innovation Competition will showcase new technology developers who offer competitive returns for
investors and customers while providing solutions to global challenges. Winners from last year's competition can be viewed here.
Competition entries may include, but are not limited to,
the areas of environmental technologies, renewable & alternative energy, infrastructure
& community, and green building science. Applications are due by July 19, 2010. For more information, visit the 2010 Brinks Innovation Competition website.
|Tech Park Hosts BioParks 2010||
|On May 1, 2010, the Tech Park hosted a reception for BioParks 2010, a conference organized by the Association of University Research Parks. Participants had the opportunity to tour the Tech Park, and a reception
was held in the Technology Business Center atrium, showcasing both company development and IIT
academic research taking place in the Tech Park.|
BioParks 2010 was held in conjunction with the 2010 Biotechnology
Industry Organization (BIO) International Convention. More than 15,000 industry leaders from 49 states and 65 countries attended the convention, which was held at McCormick Place Convention Center. BIO represents more than 1,200 biotechnology companies, academic
institutions, state biotechnology centers and related organizations
across the United States and in more than 30 other nations.
Construction Underway on 35th Street Metra Stop||
|Work is underway to build the a new Metra commuter rail station at 35th and Federal Streets, adjacent to the west side of the University Technology Park. The station will be a stop on Metra's Rock Island District Line, which runs from Joliet to downtown Chicago.|
IIT provided Metra an easement on its property to facilitate the
construction of the station, and $4.9 million in federal money secured
by U.S. Rep. Bobby L. Rush (D-Chicago), a longtime supporter of the
project, and an additional $6.8 million from the federal stimulus bill,
known as the American Recovery and Reinvestment Act of 2009, is funding construction of the station. It is expected to be finished by the end of 2010.
During the current phase of construction, the right-most lane of LaSalle Street as well as parking to the north of the Incubator building has been closed.
Read more about the new station here. Metra will be naming it the Lovana S. "Lou" Jones/Bronzeville Station after the longtime Assistant
Majority Leader for the Illinois House of Representatives who represented the area for
nearly 20 years.