|
April 26, 2004, Orlando, FL: The University of Central Florida Technology Incubator (UCFTI) announced today it has been selected to receive the National Business Incubation Association's (NBIA) most prestigious honor in the technology category. The world's leading organization advancing business incubation and entrepreneurship, the NBIA presented UCFTI this global award today during NBIA's 18th International Conference on Business Incubation in Atlanta. In addition, Cognoscenti Health Institute, one of UCFTI's participating companies, was also named 2004 Outstanding Incubator Client by the same organization.
Each year, the NBIA Incubation Awards honor the business incubators, client companies and graduates that exemplify the best of the industry.
The UCF Technology Incubator, a university-driven community partnership founded in 1999, has supported 70 client companies and eight graduating companies, who together have created more than 400 new jobs, and generated more than $140 million in revenue for the local economy. UCFTI is closely associated with the university's office of technology transfer
"The team at UCF Technology Incubator has demonstrated exceptional leadership in creating an entrepreneurial culture and high-tech industry base in central Florida," said NBIA President and CEO Dinah Adkins. "They have built strong partnerships in the community that provide an incredible network of business development resources for their client companies that is second to none."
"Partnerships are important contributors to our success," said UCFTI Director Tom O'Neal. O'Neal also oversees technology transfer as director of the UCF Office of Research. "Our mission at UCFTI is to provide early stage technology companies with the enabling tools, training and infrastructure to create financially stable high-growth companies. We accomplish this in a large part through partnerships with the University of Central Florida, the City of Orlando, Orange County, the Florida High Tech Corridor Council and other leading economic development organizations, local business service professionals and the media."
Named 2004 Outstanding Incubator Client by the NBIA, Cognoscenti Health Institute is an excellent example of one of UCFTI's successful client companies. Cognoscenti is a healthcare service and technology company using advanced information technology and emerging biotechnology to deliver laboratory medicine to patients, physicians, clinics and hospitals, and is among the first to put "Nanochip" in clinical diagnostic services. Cognoscenti came to the UCFTI in 2001 with $4 million worth of investments and a seasoned scientist as its CEO. After completing the incubator's required 21-hour entrepreneurship course, CEO Philip Chen worked diligently with incubator staff and mentors to get up to speed on running his business. Cognoscenti opened its door in early 2002 with seven employees. Today, it has 60 employees and company revenues have reached $4.9 million annually.
Dr. Philip Chen, Cognoscenti's president commented, "We're very proud of our initial success, and grateful for the support UCFTI has provided us for the past two years. The UCFTI staff helped us develop a strong business plan, as well as recruit and retain top talent. They even turned a large portion of the Incubator into a high-tech wet lab for our company. We are pleased to have grown to the point where we have purchased 14 acres of land in Orlando's Research Park to build major medical diagnostic facilities to serve the Southeast and plan to be a contributor to the local community for a long time to come."
The University of Central Florida Technology Incubator has become an entrepreneurial hub in central Florida. Incubator clients and graduates currently provide work for more than 400 employees and 48 UCF student interns, and collaborate with more than 50 UCF faculty members. UCFTI offers its client companies modern office and lab facilities in three separate Central Florida locations. Its facilities and equipment include a 6,500 sq ft. wet lab, a clean room and a nanofabrication facility (under construction), a machine shop and two rapid prototyping company service providers. Each location offers Internet access, conference rooms, fax machines, copiers, projectors and other AV equipment, free parking, office furniture, and utilities.
Since its founding in 1999, the UCF Technology Incubator has helped more than 70 emerging technology companies create over $140 million in revenue and more than 450 new jobs with an average salary of $59,000. As a result of this success, the UCF Technology Incubator was recently named the 2004 Technology Incubator of the Year by the National Business Incubation Association. Headquartered in Research Park near the University, the Incubator is a true collaboration in economic development between UCF, Orange County , the City of Orlando and the Florida High Tech Corridor Council. For more information, please visit http://www.incubator.ucf.edu
# # #
Tom O'Neal or Carol Ann Dykes UCF Technology Incubator, 407-882-0202, cdykes@mail.ucf.edu
Terry May, 904-387-3899, High Tech Public Relations, Inc.
Tammy Snook, 407-667-9355, High Tech Public Relations, Inc. |
