Chicago Technology Park (CTP) Research Center
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Chicago Technology Park (CTP) Research Center
The Chicago Technology Park exists as part of the larger Illinois Medical District to provide a home to the many businesses generated or attracted by the research and care provided through the District. The Research Center is the Technology Park’s business incubator where young companies and their cohort of partners may build businesses around innovation. The biotech incubator supports entrepreneurs with a network of consortia to fund and direct growth for success.
The Technology Park itself is a 56-acre segment of the 560-acre District located on Chicago’s Near West Side servicing University of Chicago, Northwestern University and the University of Illinois at Chicago. The Research Center provides offices, research and development space, expertise and services to local university spin-outs. The Incubator is 56,000 square-feet has offices, labs, conference rooms and shared equipment; and the incubator is in proximity to additional Graduate Facilities which accommodate the many companies grown from residence at the Research Center.1
The Incubator and Technology Park are suited to take advantage of the many clinical organizations in the area. In addition to the Medical District, the Technology Park is home to numerous Contract Research Organizations able to service the area’s biomed industry. The prevalence of hospitals, and the availability of a state of the art research translational apparatus enterprises originating from Chicago universities are uniquely situated to develop within an established regulatory framework at minimal expense.2
The Medical District builds upon a rich tradition that formally began in 1941. The District is an acting interface between local residents, medical institutions, and academic excellence bridging conceptual barriers to inter-institutional growth and collaboration. A number of new initiatives are starting a process that will draw confidence and investment to local companies coming from university research labs, including:
- The Chicago Biomedical Consortium has a focus of simultaneous technology development and community enrichment through scientific collaboration.3
- ITEC will bring a national conference network to the area to spread an understanding of the commercialization process.4
- The Department of Commerce and Economic Opportunity (DCEO) provides a focal point for information on starting and locating a business in Chicago.5
Another important new factor participating in the Chicago Bio-Incubation community is iBIO;6 promoting technological development through funding and support to educational, entrepreneurial, and industry efforts, with initiatives comprising:
iBIO EC – The Entrepreneurial Center in partnership with DCEO operates a business development center that funds and advises high technology business.
iBIO Institute – The Institute engages students and teachers in the region with biotechnology training, education and workforce development to build community and promote employment.
iBIO PROPEL – The PROPEL Program integrates the tenets of iBIO Institute and Entrepreneurial Center to provide a matrix of access and expertise to accelerate bio-business formation.
Companies incubating at the Chicago Technology Park Research Center develop at an interface of business and community within an environment expertly designed to provide care at the point of innovation.
Read more
1. http://www.techpark.com/facilities/research-center
2. http://www.imdc.org/about/our-history
3. http://www.chicagobiomedicalconsortium.org
4. http://www.ibio.org
5. http://www.commerce.state.il.us/dceo
6. http://goitec.com
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Luminogenics is a resource with interests in systems of technology commercialization in the life sciences. Included here is a directory of hundreds of biotech incubators, research parks, and associations.
