Technology Innovation Center

The Technology Innovation Center, The University of Iowa business incubator, fosters the development of new business ventures that make use of advanced technology. The Center offers services and facilities to start-up businesses and established companies eager to initiate new endeavors.

Building Relationships

Firms locating in the Center can expect to lease cost-effective office and laboratory space where collaborations between academic scientists and business entrepreneurs can flourish.  Tenant companies have ready access to University facilities, research equipment, instruments and expertise, as well as a battery of counseling services on such critical issues as management, marketing, communications and finance.  Center staff is available to make introductions and “broker” relationships at the University, in the community and region, and in the state.

The Setting

The Center offers a congenial atmosphere in which business people are free to establish special support systems and networks.  It is noted for its ability to couple the scientific and technical capabilities with the individualized needs of the business community.  Residencies at the Center are as brief as one year, but typically are three or four years, and sometimes longer.

Tenants graduating from the Center have the option of relocating their expanded business on the Oakdale Research Park, although graduate firms are free to determine where their growing business should be.  On the Park, firms have the option of leasing laboratory or office space in a planned unit development or building their own facility on sites designed to meet their particular requirements. (list of tenants)

Services

The Center can introduce tenants to the research capabilities of University of Iowa faculty members and can help tenants meet potential academic collaborators.  In addition, the Center provides access to the extensive resources of the University, including specialized equipment that new businesses may not be ready to purchase.  Tenants have access to international voice, data, and video communication through networks maintained by the University.  Tenants can expect to receive important but limited shared secretarial, reception and switchboard assistance, as well as access to shared photocopiers, fax machines, other office and presentation equipment, and mail service.  Tenants receive free parking.  The Center informs tenants of federal and state grant opportunities for businesses and can advise tenants on preparation of competitive applications.

The University’s Small Business Development Center, located in the Pappajohn Business Building on the main campus in Iowa City, provides free, confidential management assistance on an individual basis.  This assistance may include market research, prebusiness planning, insurance, basic accounting procedures, and time and personnel management.  The University’s John Pappajohn Entrepreneurial Center, also located in the business building, offers educational programs that are important to entrepreneurial activities.

Location

The Technology Innovation Center is located on the 500-acre University of Iowa Oakdale Campus in Coralville, about ten minutes from the main campus in Iowa City.  The Center is in a wooded area of the Campus along Highway 965 just one mile north of Interstate 80, and near Interstate 380 and U.S. Highways 1. 6 and 218.  Amenities include an on-campus cafeteria, a paved bike and hiking trail, an outdoor recreation area, groves of mature pine and oak trees, free parking, and free regular bus service and van shuttle service to the main campus.  Commercial flights are 15-minutes away at the Eastern Iowa Regional Airport and restaurants, hotels, professional services and a 1.2 million square-foot shopping mall are nearby.

The Center occupies much of the 20,000 square-foot TIC building, and office and laboratory space in other buildings.  Office space is rented at $6 per square foot per year to start-up companies and $8.50 per square foot per year to new ventures of mature firms.  Laboratory space is rented at $10 per square foot per year to start-ups and $14 per square foot per year to mature firms.  Laboratory space includes standard lab equipment, such as fume hoods and casework.  Those rates include standard office furniture, utilities, janitorial and maintenance services, as well as the Center’s support services outlined above.  Conference rooms in the TIC and a nearby building are available to tenant companies at no charge.

Application Process

Those interested in becoming a tenant at the Center should contact the director.  Applicants are expected to submit a written statement of plans and needs.  The application materials will be evaluated on a confidential basis by a panel of qualified reviewers, using these criteria:

• Potential feasibility of the proposed product or service
• Soundness of the applicant’s preliminary plan for technical development of the product or service
• Soundness of the applicant’s preliminary plan for bringing the product or service to the market (submission of a formal business plan is not required)
• Ability of the Center to assist the applicant, and
• Personal qualifications of the applicant

Eligibility

Eligible applicants are new businesses or existing businesses proposing new ventures that make use of high technology.  Initial leases at the Center are for a two-year period.  An acceptable justification is required for renewals.  Eligible business activities include:  Applied research, product development, development of formal business and marketing plans, efforts to acquire capital, and daily business appropriate to new enterprises.

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