Entrepreneurship

Baylor Business Entrepreneurship

As BRIC Phase 1 Nears Completion, Hankamer's Innovative Business Accelerator Gains Momentum

April 1, 2012

In October 2009, when Baylor, along with a number of community partners, announced plans for the creation of the Central Texas Technology and Research Park (CTTRP), one could only have imagined what a collaborative resource this would be for both the University and community. Flash forward to present day and you'll find the cornerstone of the region's first research park nearing phase 1 completion and truly taking shape.

The Baylor Research and Innovation Collaborative (BRIC) is the first facility of a 21-acre discovery complex that will evolve into the CTTRP as tenants populate the park over the next several decades. Originally used as a General Tire manufacturing building, the BRIC facility and surrounding area have been undergoing Phase 1 renovation for the past twenty months. This initial stage of construction and improvement, which is scheduled to be completed this month, includes demolition and renovation of existing walls, roof and window replacement, restoration of the facility's brick veneer, construction of shell interior space and the installation of new parking lots, signage and landscaping. Phase 2A renovation has started and is in the design stage. Final design drawings are scheduled to be complete this month with construction scheduled for completion by January 2013.

"The BRIC will be the cornerstone of the Baylor Discovery Park, which will, in turn, eventually become the cornerstone of the Central Texas Technology Park", said Truell Hyde, Ph.D., vice provost for research at Baylor. "The BRIC is unique in that it will house university research, advanced technical workforce and training, the Innovative Business Accelerator, international and industry partners, symposium space and STEM education exhibits. The BRIC is entering Phase 2A with initial occupancy scheduled for January 2013, making it an exciting time to be at Baylor!"

As part of BRIC, the Innovative Business Accelerator (IBA) will be a one-stop-shop for business assistance, providing several key services, including business planning, financial analysis, inventory control, marketing, and customer service aimed at fostering new venture development, as well as business incubation. Beyond business consulting, the IBA will provide training for entrepreneurs and small businesses, offer executive education workshops and seminars, as well as a regular speaker series. The IBA will also facilitate access to capital for new ventures through organizations such as the Baylor Angel Network, venture capital financing and SBA loan programs.

"We also expect the IBA to serve as a collaboratory," said Jeff Tanner, Ph.D., associate dean for research and faculty development. "We define a collaboratory as a field laboratory created through collaboration with business partners in order to conduct business research," Tanner explained. "The IBA is unique in this regard, because the research will be focused on developing business strategies and capabilities that will then fuel the executive education programs, entrepreneurial inititiaves, and other elements of the BRIC."

With the creation of the BRIC, Baylor and its partners join over 170 other research parks across North America. Leman added, "These successful research parks also demonstrate the power of strong student engagement. It is an extremely potent learning experience for the students and provides affordable assistance for young and emerging ventures. Baylor's Technology Entrepreneurship Initiative (TEI) provides a running start for this activity with a 5 year history of student-engaged commercialization assistance to technology firms around the globe."

For more information about the BRIC, visit www.baylor.edu/bric.

Return to April/May 2012 Newsletter

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