FAU Business Incubator Grows, Again

TBI_FAU_Logo_TMBOCA RATON, FL (BocaNewsNow.com) — As the economy turns around, businesses are finding it’s a great time to grow, and many are relying on the resources and expertise of Florida Atlantic University to make it happen.

Ten months ago, the Research Park at Florida Atlantic University and Enterprise Development Corporation of South Florida expanded the Technology Business Incubator (TBI) by 5,000 sq. ft. in response to a growing demand.  A second expansion will be complete this March, adding an additional 10,000 sq. ft. to accommodate a vast need for additional space for its current client companies and to house new companies that have been on a waiting list.

 

The TBI, a location and knowledge resource center for entrepreneurs emerging from Florida Atlantic University – students, recent graduates and faculty – as well as regional entrepreneurs is currently home to 23 early stage high-tech companies as well as the New World Angels and the Institute for Commercialization of Public Research. The most recent expansion brings the TBI to a total of 25,000 sq. ft. and will accommodate an additional 15 companies, with individual offices ranging from 120 to 1,000 sq. ft.

 

“The TBI is an exceptional facility which has attracted entrepreneurial attention to our brand of specialized assistance available to startup technology companies,” said Andrew Duffell, president and CEO of the Research Park at Florida Atlantic University. “Resident companies collaborate and find the resources they require to make their business a success. Whether in need of mentors, investors, community collaborators, and business services such as human resources or accounting, everything is under one roof and in close proximity to FAU research and faculty.”

 

The expansion will also feature a 4,000 sq. ft. co-working center operated by Caffeine Spaces. The co-working environment will incorporate independent entrepreneurs, programmers and service providers for the startups to bond with and draw talent from, adding to the entrepreneurial culture. Under one roof, TBI companies tap into an array of resources including mentors, other entrepreneurs, community collaborators, and business services, creating an environment that provides what companies need in order to be successful.

“We’ve seen an overwhelming need to further expand our facilities to make room for additional companies,” said Rob Strandberg, president and CEO, Enterprise Development Corporation. “In June 2012, we were at 100% occupancy and started a waiting list, allowing non-tenants to use our facilities in order to accommodate their needs as much as possible; often using our conference rooms, shared offices and even setting up shop in our break room.”

 

The new and larger space features a Student Innovation and Invention Lab designed for use by FAU student-based teams working on industry projects. Also included is a dedicated office for the annual FAU Business Plan Competition winner. A kitchen and lounge area encourage casual and spontaneous interaction among residents and other Research Park tenants and FAU faculty.

 

For the emerging company requiring advanced broadband capabilities, the space is wired with Gigabit Ethernet cabling and optic fiber, and includes a server room with back-up battery power and a generator available to host resident company servers.

 

About the Research Park at Florida Atlantic University

Established in 1985, the 94-acre Research Park (www.research-park.org) is home to

23 technology companies working in conjunction with the FAU College of Engineering and Computer Science, the FAU Charles E. Schmidt College of Medicine and the FAU College of Business.  TheResearch Park also hosts the Technology Business Incubator with 23 startup technology companies, each of which receives business and consulting services with the goal of becoming established businesses and permanent residents in the Research Park.

 

HDG Mansur (hdgmansur.com) is the development partner for the Research Park, with leasing provided by Avison Young (avisonyoung.com)

 

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