Iowa City Area Development Group / University of Iowa - MERGE Innovation Space
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The MERGE Innovation Space is designed to create and cultivate a knowledge ecosystem for entrepreneurs and startups, offering vital resources and connections to successfully create, launch and grow new companies in Iowa City.
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Iowa City Area Development Group / University of Iowa - MERGE Innovation Space
- 2. The team Answer the question, “Why are we the ones to solve the problem we identified?” Tom Banta Iowa City Area Development Community Jon Darsee David Hensley University of Iowa Office of Economic Development Faculty Engagement John Pappajohn Entrepreneurial Center Student Engagement Katherine Crosby Iowa City Area Development University Student
- 3. OUR WHY
- 4. 1 35 $1,312,500 $1,312,500 2 55 $2,062,500 $3,375,000 3 80 $3,000,000 $6,375,000 4 100 $3,750,000 $10,125,000 5 125 $4,687,500 $14,812,500 6 150 $5,625,000 $20,437,500 7 175 $6,562,500 $27,000,000 8 200 $7,500,000 $34,500,000 Year New + Sustained FTEs Annual Economic Impact Cumulative Impact
- 5. Milestones Where we’ve been and where we’re going May 2016 Moved into unfurnished space Jan 2017 Renovations begin May 2017 MERGE Grand Opening IC Colab 13,000 square feet 15 rentable offices 40 bench spaces Ongoing 3D printing Public and private events
- 7. University Office of Economic Development Faculty Innovation Companies the University has fostered at MERGE -RAMDO Solutions -Hobu -Edammo Inc
- 8. 47 Clients 25 Product Prototyping Projects 70 Total Design Related Projects Over 1300 Parts 3D Printed
- 9. $1.5 million in state funding 3D Printers: J750, F370, Markforged Mark II, ExOne Metal Printer 2 3D Scanners NSF I-Corp
- 10. John Pappajohn Entrepreneurial Center Campus-wide Academic Program UI Student Ventures Community-based Programs Long-term Partnership to Accelerate New Venture Formation “Iowa Swarm” Collaborating to foster Economic Development
Hinweis der Redaktion
- -“MERGE offers a low-cost environment rich in support, resources, and mentorship to help new companies chart their course” - Mark Nolte. -Disruptive Innovation: focusing our efforts on bringing people to our community and their business follow -- we provide space for said business (Strategic DOING vs. strategic planning)
- -Our expectation is that with each new company formed between 5-20 new jobs will be created in years 1-3. If we are able to launch 10 companies a year, we anticipate new job growth annual as a direct result of the MERGE space to be between 50-200 high paying professions. Using a starting salary multiplier of $37,500 the following Economic Impact can be seen:
- -history of MERGE as an Innovation Space: growing number of events, rotation of companies in and out of offices (retention rate? Need to word correctly if we want to mention this), Protostudios/other innovations that have come from our in-house companies -15 private offices running at 85% occupancy since opening -40 active co-working members -talk about replicability/scalability (here or next slide)
- -545 event sin 2018 -Events hosted by/at MERGE: Green Room (16?), TAI Podcasts and TechBrews, JustChurch (weekly), CVB and Chamber meetings (monthly), TEDx, Entrefest (annual), Ragbrai (annual), fashion shows, local artists, 1Million Cups (weekly), and so much more! -all events that can be brought into any community; start off small and gain traction (replicability, scalability!)
- OED’s vision for these projects
- OED’s vision for these projects 5 3D printers (listed) 2 3D scanners - GeoMagic Capture 3D scanner, Artec Spider 3D scanner 8 other equipment pieces - laser cutter, water jet, vacuum casting system, injection molding, 4 axis milling, CNC lather, circuit board plotter, micro welder
- -2 undergrad majors, 4 certificates, graduate coursework -Bedell Ent Learning Lab, Founder’s Club, mentoring program, specialty programs: Ideastorm, Iowa Startup Games, Summer Accelerator, Iowa Medical Innovation Group, etc. -faculty innovators, UI Venture School, Iowa Innovation Associates, Summer internships, Wellmark Venture Capital Fund -joint ICAD/JPEC mentoring program, space for UI students and faculty, host for UI/community events and networking: (some previously mentioned), EntreFEST, protostudios collaboration, entrepreneurial training and workshops, guest presentations and networking events -”Iowa Swarm” - leveraging university and community assets to grow the ecosystem -fostering economic development: HealthTech Solutions, SwineTech, Immortagen, Higher Learning Technologies