Located at the corner of SW 2nd Avenue and SW 7th Terrace (former site of Alachua General Hospital), the super incubator known as Innovation Hub will be the first building in Innovation Square.
The Hub likely will incubate 15 to 20 UF spinoffs at a time, in addition to housing tech licensing and six to eight service providers. Its key goal will be to get emerging technologies on the market.
Companies located in an incubator are four times more likely to succeed than those that are not, according to the National Business Incubator Association. "Enhancing the incubator concept by co-locating it with the university’s main commercialization offices is a new model the university believes will yield even better results," said Jane Muir, associate director of UF’s Office of Technology Licensing and principal author of the EDA grant proposal.
"By putting all the players in the same building, we expect the synergy that’s created to accelerate our ability to create companies," Muir added.
According to John Fernandez, U.S. assistant secretary of commerce for economic development and keynote speaker at last year’s groundbreaking ceremony, "A project like this one drives job creation and community development while opening up new opportunities for residents."Florida Innovation Hub