UT Business Incubation : Annual Report

University of Toledo Incubation

1. 16 additional companies have expressed interest in either working with or locating within the UT incubation system
2. Expanded program to two buildings – the second being used for IT incubation
3. Applied for and received EDA grant for $2 million for mixed-use technology incubator to be built by June 2009 between Engineering and current Clean and Alternative Energy Incubator
4. Xunlight received $7.5 Million in venture capital investment
5. Xunlight received $2 million in Loans from Lucas County
6. Xunlight spun off Xunlight 26 Solar to work collaboratively on research with UT
7. Xunlight (MWOE) submitted 12 patent disclosures
8. Solar Fields was sold to Calyxo USA, a division of Q-cells, the worlds largest manufacturer of solar cells
9. Solar Kit USA, LLC was formed with 2 Incubation graduates and 1 incubation company
10. Solar Kit USA, LLC received $5 million contract for solar installation at 180^th Guard base
11. Recombinant Innovation received over $50,000 in contracts due to direct collaboration with UT’s incubation program
12. Recombinant Innovation submitted one patent
13. Recombinant Innovation initiated negotiations with 3 global companies for product development projects
14. Ugly Data offered all incubation clients 20% discount on services
15. Sdudi Inc. relocated their business to Toledo from New York City in order to work more closely with the University of Toledo’s incubation program
16. UT Incubation program has interacted with 3 venture capital firms that have expressed interest in working with UT incubation clients or potential clients
    1. Credit Suisse
    2. 4N Capital Partners
    3. Mora Associates
17. UT Incubation Director provided over 440 hours of counseling to incubation clients during the first year
18. Worked with Green Energy Ohio on Alternative Energy Event that attracted over 150 participants
19. R-1 Building undergoing extensive renovation in order to house 6 labs for PVIC.  17,000 square feet of developable space will be created on the second in the original high bay due to lab construction.  Cost of renovation -- $2.2 million
20. Became the Statewide Host for the University Clean Energy Alliance of Ohio (UCEAO), a statewide organization supported by over 15 universities
21. UT Incubation program worked with a number of partners (not exhaustive)
    1. Science and Technology Corridor
    2. Center of Technological Entrepreneurship
    3. Technology Transfer Office
    4. UT Family Business Center
    5. College of Engineering
    6. College of Business
    7. College of Arts and Sciences – particularly the Dept. of Physics
    8. UT Health and Safety
    9. UT Legal Dept.
    10. UT Facilities Dept.
    11. EISC
    12. MTSBDC
    13. Regional Growth partnership
         i.      Launch Program
         ii.      Rocket Ventures
         iii.      Business Development
    14. Toledo Regional Chamber of Commerce
    15. Green Energy Ohio
    16. Ohio Department of Development
    17. City of Toledo
    18. Lucas County Improvement Corporation
    19. Toledo Lucas County Port Authority