UT to dedicate new business incubatorWritten by Duane Ramsey | | email@example.com
The University of Toledo will increase its business incubation efforts with the dedication of the Nitschke Technology Commercialization Complex located just south of Nitschke Auditorium on its main campus April 2 at 10 a.m.
UT President Lloyd Jacobs, U.S. Rep. Marcy Kaptur, Norman Nitschke will be joined by local elected officials and business leaders for the dedication ceremony.
The incubator facility will help commercialize new and developing businesses and technologies that will help lead this region’s economic revitalization, said Nitschke.
The U.S. Economic Development Agency provided a $2 million grant for the project. The state of Ohio and Nitschke each provided $1 million in required matching funds to cover the cost of the project.
“The University has a central role to play in the economic development of the city and region. I firmly believe that EDA will be impressed by the economic return their investment will generate,” said Jacobs in a press release announcing the dedication.
Megan Reichert-Kral, UT director of incubation, said the new complex would focus on technology companies that outgrow the Clean and Alternative Energy Incubator located next to the new complex, from University research involving advanced materials and manufacturing in the College of Engineering, or tech companies in the community.
Those two incubators on the main campus, and the Minority Business Accelerator located on the Scott Park Campus of Energy and Innovation, position UT as one of the key partners in the effort to develop high-tech jobs in this region and throughout the state, according to Reichert-Kral.