In conversation with...

David Brenner, president and CEO of Innovation Park at Notre Dame.

South Bend is marking an important milestone in its emergence as a vital center of technological research and development.

Innovation Park at Notre Dame is officially open as of Oct. 23, serving as a launch pad for new research-based start-ups in the area.

Innovation Park President and CEO David Brenner took a few moments to answer some key questions about what lies ahead for this vital new stimulator of business growth.
 

Photo by Carol C. Bradley

Q: What are the types of services that Innovation Park offers its clients?

A: Innovation Park offers client companies critical resources and services to help their businesses accelerate and shorten their path to market.  Being able to cut down the time it takes to successfully launch a business can often mean the difference between success and failure.

First, Innovation Park works with prospective clients to understand their needs, and assists them to develop plans to achieve their identified milestones of progress.

Second, Innovation Park provides clients with first-rate physical space. Clients will have all-inclusive, 24/7 access to the facility, conference rooms, collaborative space, a café area, wireless broadband internet and unlimited bandwidth via the Metronet.  All utilities are included as well. Build-to-suit office suites and labs allow our clients to choose the layouts and equipment that will best suit their needs and business growth plans.  
 
Third, Innovation Park is able to help provide clients access to various early-stage funding resources, which is critical for any new venture.
 
Finally, and perhaps most importantly, Innovation Park helps connect clients with market expertise.  The Park’s client engagement program will provide access to an unparalleled network of market experts, drawn from Notre Dame’s IrishAngels network and alumni community, as well as regional resources.  

Q: Can you give an example to illustrate how these services would be put into practice?

A: For example, if an advanced drug discovery company had a promising technology that could be developed to treat a variety of conditions, Innovation Park would help connect the company with established field experts.  These experts could help them identify which therapy may be likely to move through the FDA regulatory environment the most quickly and cost-effectively.  The revenues from the first application could potentially provide funding to develop other therapies.  

This kind of engagement will allow clients to receive valuable information to help identify and shorten their path to market. 

Q: How do these services distinguish Innovation Park at Notre Dame from other technology parks?

A: Unlike many other technology and research parks, Innovation Park is committed to offering an intensive, client-service based support system for our client companies. You’ll notice Park residents are “clients” and not “tenants” for this reason.  Client companies who wish to locate in the Park should be willing to actively engage with our resources and programs, and strive to hit mutually agreed-upon business milestones in an acceptable period of time. The Park believes the result of this engagement process will yield stronger, growth-oriented companies poised to succeed in a competitive marketplace.

Q: How is Ignition Park in South Bend connected to Innovation Park?

A: Innovation Park at Notre Dame and Ignition Park are sister parks within the Indiana State-Certified Technology Park network. Innovation Park is a 501(c)(3) entity wholly owned by the University of Notre Dame, and is designed to assist in the commercialization of innovations that will leverage University resources, be it faculty research, student talent or other University assets.  Ignition Park is owned by the City of South Bend and will serve as a prospective landing area for companies that are ready to leave Innovation Park, or for established companies that wish to relocate to South Bend from other areas around the country or the world.

 
Q: Access to capital is vital to any tech park focused on commercialization of research. But Innovation Park isn’t situated near big venture capital centers on the east or west coast – it’s smack dab in the middle of the country. Isn’t that a disadvantage?

A: Venture capital seeks great ideas regardless of location, so the challenge is to ensure great ideas are prominently promoted to interested capital funding sources. Innovation Park is extremely fortunate to be connected to a strong network of these resources, from grant providers to angel investors and venture capital firms, which allow clients to connect with potential sources of early-stage funding.

Prominent in Innovation Park’s network are IrishAngels, which comprise successful Notre Dame alumni and friends who are accredited investors with experience in entrepreneurial endeavors. Innovation Park enjoys close relationships with many members of the network, and hosts the network’s investment forums. Innovation Park also enjoys good working relationships with numerous regional and national venture capital firms, as well as other local and regional angel investor organizations, including Michiana’s new MAGNET investor group.  

Photo by Carol C. Bradley

Q: Why did Notre Dame decide to create Innovation Park?
 
 A: Innovation Park is an integral part of Notre Dame’s goal to become a pre-eminent research university.  The Park will help provide the means to move research innovations from the campus to the marketplace in many different fields, including nanoelectronics, advanced drug discovery, orthopedics/biomedical devices, flow physics, imaging and others.  It also will provide new, experiential learning opportunities for students from all colleges within the University.
 
Similar parks associated with other universities in the state and around the country have proven to be solid means for inspiring new research, bringing innovative ideas to the marketplace, creating industry-university relationships and for potentially spurring local economic growth.
 
The University of Notre Dame, the City of South Bend and the region’s economic development organization, Project Future, have all committed resources to develop Innovation Park, making the Park a tangible example of the area’s commitment to developing synergistic partnerships between the University and the surrounding community.