4/17/98
ATHENS, Ohio -- The Ohio University Innovation Center has expanded its mission to offer business assistance to service and light manufacturing start-ups, while continuing to assist new technology firms.
"Increased availability of space on The Ridges makes this an ideal time to extend our business assistance services," said Linda Clark, assistant director for business development at the Innovation Center. "Ohio University is committed to working with the community to augment economic development opportunities through the Innovation Center and we encourage local entrepreneurs to contact us."
Founded in 1983, the Innovation Center is one of the oldest university-based incubators in the United States. Business incubators typically offer low-cost space, access to shared office services, professional business management assistance and a supportive environment to assist entrepreneurs in developing their businesses.
According to a recent nationwide study of the incubator industry by the Ohio University College of Business and the National Business Incubator Association, a reported 87 percent of all incubator graduates are still in business and an average of 84 percent stay in their local communities.
A prospective tenant for the Innovation Center must be involved in an emerging service, technology or light manufacturing business, have potential for job creation and have capital or prospects for accessing capital.
Several successful companies have started at the Innovation Center, including Electronic Vision, the 13-year-old, multimedia design, production and hardware company. Named one of the "top 100 multimedia producers" in the United States by "AV Video & Multimedia Producer" magazine, EV employs 24 people and had sales of $3 million last year.
A current tenant of the Innovation Center, Athens Technical Specialists (ATSI), is moving into a new corporate headquarters three miles west of Athens next year. Formed in 1987, ATSI is a design, manufacturing and consulting firm for the traffic management and signal control industry. ATSI was founded by Dr. James C. Gilfert, professor emeritus of electrical and computer engineering at Ohio University.