Ohio University’s Innovation Center has been recognized as a Top University Business Incubator in North America by UBI Global, an organization that benchmarks business incubators and accelerators around the world. The program was ranked #8 in the North American region and #3 in the United States.
The university’s technology business incubator was one of 10 programs that received the Top University Business Incubator in North America award during a recognition ceremony co-hosted by UBI Global and Ontario Centres of Excellence Nov. 3 in Toronto. The award recipients included business incubators at institutions such as Cornell University, Georgia Institute of Technology and the University of Calgary. UBI Global received 97 applications from North American incubators for the award, according to the organization.
UBI Global defines a Top University Business Incubator as “an incubator managed or formally affiliated with a university that provides better value for the ecosystem and their startup clients than their regional or global peers. They stand out from average-performing incubators with better outcomes on economy enhancement, access to funds and post-incubation performance indicators.”
The Ohio University Innovation Center has supported university and regional entrepreneurs in Southeast Ohio since its inception in 1983. The jobs generated by Innovation Center companies in 2013 and 2014 garnered an estimated $10.5 million in labor income and $1.3 million in state and local tax revenues. The number of jobs created (directly, indirectly or induced) by the Innovation Center businesses was 123 in 2013 and 140 in 2014.
The Innovation Center’s success stems from being part of a larger university and regional entrepreneurial ecosystem that includes TechGROWTH Ohio, the Technology Transfer Office, the Voinovich School of Leadership and Public Affairs, the College of Business, the Edison Biotechnology Institute and the Center for Entrepreneurship, said Jennifer Simon, director of the Innovation Center.
“Ohio University’s regional ecosystem provides outstanding resources to entrepreneurs,” Simon said. “This award recognizes that our clients have access to world-class services to accelerate their growth right here in Southeast Ohio.”
The North American awardees are shortlisted for the UBI Global’s World Rankings, to be announced Nov. 25 in London.