Incubator built by ABI could help start new area businesses

Entrepreneurs in the area are soon going to be able to get help from ASU on getting their business up and running.

Arkansas Biosciences Institute's Commercial Innovation Center, a high-tech business incubator, came into fruition from a $1.75 million grant awarded by the U.S. Department of Commerce's Economic Development Administration. After completion of the ABI building, the lower level offered approximately 6,000 feet of unused space.

Upon receiving the grant, the conversion of the space began. The space will house an incubator where business and technology meets. The incubator is designed to attract new businesses and serve as a start-up space for new companies in the area of technology, bioscience, medicine and business. ABI researchers are making discoveries that could impact agriculture, renewable resources and human health.

The incubator will provide a wet lab space, offices and services. The Delta Center for Economic Development, the College of Business and ABI-COM are collaborators that seek to use campus resources as well as the private sector to expand the number of businesses and economic opportunities for Northeast Arkansas.

Potential clients will need to meet certain criteria due to limited facilities. The center can estimate and provide common equipment for the client who consumes the space.

"We will provide a space for the biggest untapped emerging business-technology developments in the region," said Brian Rogers, director of the center.

Virtual clients will also be an option once the physical space is filled. By using virtual clients, the business and technology infusion can be expanded to reach a broad area. At full capacity, this facility will contain space for 12 labs with accompanying office space with at least five to 10 occupants, as well as a couple from within campus.

Some noteworthy examples of the type of technologies are University of Arkansas Medical Sciences Safe food program, Optus and Rural Sourcing.

The completion date is on schedule for late March. No agreements have been signed as of yet with a specific company.

"NEA is fortunate to have the business sectors operating, helping to provide a strong economic environment," Rogers said.

Several goals are to educate and graduate high quality talents, provide internships, a supportive atmosphere, create high paying opportunities here in Arkansas and to retain those individuals in our communities by eliminating out of state recruitment.

  Arkansas has lacked in these areas, but now, by creating strong educational components to the incubator through coaching and mentoring, ABI will successfully connect a value based business and technology center.  

"We want this region to be a rich and diverse region," he said.