The model of the “business incubator” takes an entrepreneur’s idea and warms it with the power of institutional business acumen and support. Out, hopefully, comes a successful business. A new study promoted by the University of Illinois Research Park is examining the state’s 18 incubators. A big finding is that they would do well to network more with each other.
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“Its laboratory spaces and office spaces enable scientific startup companies to come out of the university,” Laura Frerichs says. “More than 90 percent of our clients are based off of university entrepreneurship: primarily professors starting companies.” Frerichs, director of the research park, says it monetizes local brainpower and contributes to the economy.
Frerichs says ShareThis is an example of a product you may use today – allowing you to post web content to social media – which originated in the UI incubator, Enterpriseworks.