CEDAR FALLS -- Alex Gates is trying to get a fledgling business off the ground.
But being a college student makes it difficult to find the capital needed to rent office space, buy supplies and pay for other capital expenses that usually come with starting one's own business. Instead, during his junior year at the University of Northern Iowa he enlisted the help of the John Pappajohn Entrepreneurial Center's student business incubator space.
"I think programs like this are fantastic," he said.
The university will break ground at 10 a.m. Saturday on a new building that will continue to support student and community entrepreneurs, like Gates. The Business and Community Services building will be constructed on the south side of campus near the Center for Energy and Environmental Education building.
Randy Pilkington, executive director of the University of Northern Iowa's Business & Community Services division, said the 26,000-square-foot building will house an Innovation Accelerator, a student business incubator and some of the university's economic development and technology transfer program. A conference and event service area and the regional Iowa State University Extension office also will be located in the new building.
"This marks the beginning of UNI's new public campus," Pilkington said. "It was designed to provide an interactive environment for private and public partnerships. The emphasis will be toward economic development assistance and technology transfer so we can assume a more active role in greater regional development."
The Innovation Accelerator will provide university and private sector entrepreneurs with viable work plans the services needed to start new ventures in technology transfer.
Gates, a senior in general studies, won't get the opportunity to use the new space to get his business that would allow musicians to collaborate online in real time off the ground, but he knows the services offered through the program will be invaluable to other entrepreneurs.
"They offer tips for marketing, and you get the opportunity to learn quite a bit from the professionals around there," he said. "It's a great experience."
The $4.65 million addition is funded through federal appropriations from the U.S. Department of Energy and the Small Business Administration and state money from the Iowa Values Fund. Construction should be completed by fall 2006.
"The Board of Regents and General Assembly have asked us to be more active in technology transfer and other entrepreneurship activities," Pilkington said. "This will give us the facilities and programming to enhance both those activities."
Contact Emily Christensen at (319) 291-1520 or emily.christensen@wcfcourier.com.
Posted in Metro on Monday, June 13, 2005 12:00 am
© Copyright 2009, wcfcourier.com, 501 Commercial St. Waterloo, IA | Terms of Service and Privacy Policy