|
|
|
|
|
|
|
|
IU Kokomo received $1million in federal funds for business incubator
February 2, 2004 | |||||
|
KOKOMO, Ind.—Congress has approved $1 million in federal funding to IU Kokomo, to provide equipment and technology support for the Kokomo Technology Center (KTC). Proposed as an “incubator” for high tech businesses, the KTC received a home last November, when Delphi Electronics and Safety donated a 98,000-square-foot office building in Kokomo for that purpose. IU Kokomo will use the federal funds to add wet and dry laboratories to the KTC building’s second floor, depending on what center clients need, said Chancellor Ruth Person. “The appropriation means that IU Kokomo will be able to be a full participant in the incubator,” Person said. “We are really into this because we are about creating jobs for north central Indiana.” The campus will also provide KTC clients with technical assistance, through such resources as the IU Industrial Research Liaison Program (IRLP), the ISBD Collegiate Management Program, and education customized to meet regional work force needs. Partnering with local businesses and the Kokomo/Howard County Development Corporation (KHDC), IU Kokomo and the Purdue University School of Technology at Kokomo have been involved in planning the KTC since 2000. The funding is part of $63 million approved for 75 Indiana projects under a U.S. Senate bill passed January 22. Announcing the funding, Indiana Senator Evan Bayh said, “IU Kokomo plays a vital role in generating greater economic development in north central Indiana. “The employment opportunities afforded by professional and technical jobs will help address the goal of retaining more Indiana college graduates and recruiting students and workers from other states.” Bayh noted that the campus proposes a two-phase approach to strengthen technical assistance for economic development. Phase I plans include development of the KTC’s Business Development Technical Assistance Center (BDTAC), which will house the IRLP office. Currently located within IU Kokomo’s Division of Continuing Studies, IRLP assists companies in preparing applications for federal product development grants and conducts data searches for business considering potential products. In Phase II, the KTC will build a real-life laboratory for learning and business development. “We appreciate Senator Bayh’s efforts to secure the federal funding,” said Fred Hakes, director of the IU Kokomo Division of Continuing Studies. “The campus has a lot of strategic niches to help business people, such as our M.B.A. program, our Certificate in Contemporary Entrepreneurship, and our annual Entreprenuership and Technology Conference. “Now, having $1 million to directly support companies in developing jobs is a milestone for the campus.” Hakes’ office gathered support information for the funding proposal. He said his staff received “significant counsel and guidance” in the effort from two IU Bloomington units—the Office of Federal Relations and the Advanced Research and Technology Institute.
|
|
||||