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The incubator is part of an aggressive movement throughout the 16-county Innovation Valley to commercialize on intellectual property generated at the University of Tennessee and nearby Oak Ridge National Laboratory, and at numerous spin-off companies. Last year alone, the Innovation Valley announced more than $227 million in new capital investment and more than 2400 new jobs.
“Partnerships like this have clear value, and not only for the organizations involved,” said UT President John Petersen. “When public and private entities come together for these kinds of initiatives, the economies of our region and our state benefit.”
The UT Research Foundation, chartered in 2003, supports the UT research enterprise, protects and commercializes the university’s intellectual property, and works to promote economic development across the state. Technology 2020’s Center for Entrepreneurial Growth (CEG), which already manages other local business incubator facilities in the region, will provide many of the business services for companies housed at the incubator. CEG has worked with companies at Tech 2020’s Commerce Park and Fairview Technology Center incubator facilities.
For additional information, call (865) 777-3959, e-mail email@example.com or visit www.knoxvilleoakridge.org. UT’s website is located at www.tennessee.edu.