IU Research will promote entrepreneurship at Electric Works
The Indiana University Research and Technology Corp. has announced plans to establish a presence in Electric Works. The IURTC promotes entrepreneurial activities at Indiana University and provides support for IU innovation-based startup companies, including access to capital from its recently established $15 million Philanthropic Venture Fund.
“While Indiana University’s primary focus in northeast Indiana will always be on our IU Fort Wayne campus, Electric Works provides us with a unique opportunity to tap into the entrepreneurial expertise of the IU alumni network in the region, as well as those associated with a broad range of entrepreneurial endeavors,” IURTC President and CEO Tony Armstrong said in a statement. Armstrong said the IURTC would also benefit from maintaining more regular and direct contact with the rapidly growing innovation network that continues to distinguish the region.
IURTC recently collaborated with the Northeast Indiana Innovation Center in Fort Wayne to earn a grant from the U.S. Economic Development Administration to help establish the Indiana Connected Health lab in Fort Wayne. The IURTC is a principal partner with the Northeast Indiana Innovation Center and the Parkview Mirro Center for Research and Innovation at Parkview Health.
“The IURTC’s commitment to Electric Works aligns with Parkview’s focus to develop dedicated research and innovation space on the campus,” Mike Packnett, president and CEO of Parkview Health, said in statement. “As part of the largest research university in the state, their presence at Electric Works is sure to be transformational for the region and we look forward to working alongside them in this new innovation district.”
While specific details regarding IURTC’s presence and timeline at Electric Works are still being determined, Indiana University and the IURTC expect it to mirror similar operations in other Indiana-based innovation districts, including the Fishers IoT Lab, Union 525 in Indianapolis, Dimension Mill in Bloomington and Westgate at Crane.
The IURTC will continue to work with Electric Works leadership in the coming months to finalize space plans, as well as determine programmatic and operating details.
Electric Works is a mixed-use district of innovation, energy and culture, developed as a public/private partnership between RTM Ventures and the city of Fort Wayne. Electric Works includes 1.2 million square feet of space for office, educational, innovation, retail, residential, hotel and entertainment uses on the former General Electric campus.