University of Illinois Research Park

What University of Illinois Research Park does

University of Illinois Research Park is a 210-acre technology hub located in Champaign, Illinois, operated as a University of Illinois Research Park LLC under the governance of the University of Illinois Board of Trustees. Founded in 1999 and headquartered at 60 Hazelwood Drive, the Park comprises 19 buildings housing 120+ companies, over 2,000 affiliated full-time professionals, 800+ student interns, and 50+ early-stage startups, making it the third-largest employer in Champaign County. Its core offerings include the EnterpriseWorks incubator (43,000 sq ft, 60+ startup tenants, 250+ graduates since 2003), the LabWorks wet lab facility for growth-stage deep-tech startups (opened early 2024), and Class A office, lab, and light manufacturing space available for lease to corporate innovation centers operated by Dow, Abbott, ADM, AGCO, John Deere, State Farm, and Synchrony.

The Park's underlying value proposition rests on adjacency to UIUC research infrastructure — including the NCSA Petascale Computing Facility and Integrated Bioprocessing Research Lab — and a continuous student talent pipeline. Supporting services include the Entrepreneur-in-Residence program, Illinois FAST Center for SBIR/STTR funding support, a Makerspace for prototyping, a Job Board, and 200+ annual events including the AgTech Summit, AI + Robotics Symposium, and the Startup World Cup Agriculture and Food Regional co-hosted with Serra Ventures. Recognition includes Forbes' Top Technology Incubators Changing the World (2010), Inc. Magazine's 3 College-Town Incubators to Watch (2013), and AURP's Most Outstanding Research Park of the Year (2011). Tenant outcomes are significant: startups in the Park have collectively raised $1.4 billion in venture capital and $220 million in SBIR/STTR funding.

The business model combines ground lease revenue (University retains land ownership, 50-year ground leases with 25-year renewal options, rent based on MAI appraisal), commercial space rental revenue (buildings owned by GEM Realty Capital, University of Illinois Foundation, Oxford Partners, Carle Health, and formerly Fox/Atkins LLC), and incubator service fees from EnterpriseWorks and LabWorks. The Park has received public funding including an $8 million State of Illinois capital grant (2003), $270,000 in EDA University Center Grant funding (2017-2022), and $550,000 in EDA Economic Adjustment Assistance (2017). Operating geographies are concentrated in Champaign-Urbana with programmatic extension into Midwest downstate Illinois. The entity does not disclose revenue, does not offer a public API, and has no mobile applications.

Name

University of Illinois Research Park

Legal name

University of Illinois Research Park LLC

Website

https://researchpark.illinois.edu

Company type

Private

Founded year

1999

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

University of Illinois Research Park is a 210-acre university-affiliated technology hub in Champaign, Illinois, housing 120+ companies ranging from Fortune 500 corporate innovation centers to 60+ early-stage startups in its EnterpriseWorks incubator and LabWorks wet lab facility, leveraging UIUC's student talent and research infrastructure to commercialize academic research.

Ownership category

akta.pro rank

Product category

Research Park / Technology Incubator

NAICS

Colleges, Universities, and Professional Schools (611310), Research and Development in Biotechnology (except Nanobiotechnology) (541714)

SIC

Services-Engineering, Accounting, Research, Management (8700), Services-Engineering Services (8711)

akta.pro primary industry

Technology Transfer & Innovation-Driven Research Universities (High Commercialization) (EDAHABAH)

akta.pro secondary industry

STEM-Focused Public Research Universities (EDAHAAAE)

Keywords

• Technology incubation services
• University research parks
• Startup business incubator
• Office and lab leasing
• Corporate innovation centers

Headquarters

HQ city

Champaign

HQ country

United States

HQ region

North America

Offices8 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Infrastructure, Marketing or Sales, Technology or R&D, Others

Revenue model

1. Ground Lease Revenue: Research Park land remains University property. Ground lease structure: 50-year ground lease with lease rate based on land MAI appraisal, with 25-year renewal option. Developers and building owners pay ground rent to the University.
2. Commercial Space Rental: Leasing of Class A office space, wet labs, prototyping labs, and light manufacturing space to corporate tenants and startups. Buildings are owned by Fox/Atkins LLC, GEM Realty Capital, University of Illinois Foundation, Oxford Partners, and Carle Health.
3. Startup Incubation Services: EnterpriseWorks provides office and wet lab space to early-stage tech startups, supporting technology commercialization from university research.

Pricing tiers

Go-to-market motion3 records

Distribution channels3 records

Marketing channels7 records

Core offering

The University of Illinois Research Park is a 210-acre university-affiliated technology hub that provides Class A office space, wet labs, prototyping labs, and light manufacturing facilities for lease to corporate tenants and startup companies. It operates the EnterpriseWorks incubator for early-stage tech startups and the LabWorks facility for growth-stage deep-tech companies, supported by mentoring, Entrepreneurs-in-Residence, Makerspace resources, and SBIR/STTR funding assistance through the Illinois FAST Center.

Product overview

University of Illinois Research Park is a technology hub and business incubator that provides a comprehensive ecosystem for startups and corporate innovation. The core offerings include EnterpriseWorks (early-stage tech incubator), LabWorks (growth-stage laboratory facilities), and Class A office/wet lab spaces available for lease. The ecosystem is supported by programs including the Entrepreneur-in-Residence consulting program, Makerspace for prototyping, FAST Center for SBIR/STTR funding support, and a Job Board connecting companies with student talent. The Research Park hosts major events including the annual AgTech Summit and AI + Robotics Symposium, and produces the Innovations at Research Park podcast. Over 120 companies operate in the park, ranging from startups in the incubator to Fortune 500 corporate innovation centers.

Differentiator

Problem solved

Functional benefit

Brands

• EnterpriseWorks: Early-stage technology business incubator supporting startups in agtech, biotechnology, software, materials sciences, and other sectors.

Products and services

• EnterpriseWorks Incubator Early-stage technology business incubator providing 43,000 sq ft of office and wet lab space to deep-tech and science-based startups commercializing university research across agtech, biotechnology, software, materials sciences, and beyond. Currently houses 60 startup tenants and has graduated 250+ companies since inception.
• LabWorks Laboratory suites for growth-stage deep-tech and science-based startups located at 2109 S. Oak, providing specialized infrastructure for life science companies that have outgrown the EnterpriseWorks incubator.
• Office and Lab Space Leasing Class A office space, wet labs, prototyping labs, light manufacturing, and retail spaces available for lease across multiple Research Park buildings at 1904 S. First, 2001 S. First, 2021 S. First, 1907 S. Fourth, 2100 S. Oak, and 1800 S. Oak. Leased to corporate tenants and startups through a tenant application process.
• Corporate Innovation Centers Purpose-built environments for established companies to conduct R&D, collaborate with university researchers, and access student talent pipelines. Current tenants include Abbott, ADM, John Deere, State Farm, Synchrony, Dow, AGCO, and Yahoo.
• Entrepreneur-in-Residence Program Free consulting program providing advice to new startup ventures and prospective technology entrepreneurs. Features experienced entrepreneurs who provide guidance on attracting investment, building teams, and communicating value proposition. Generates 500+ hours of meetings annually with Entrepreneurs-in-Residence and Experts-in-Residence.
• Makerspace Shared fabrication facility providing equipment and resources for prototyping and manufacturing for Research Park companies and entrepreneurs.
• Illinois FAST Center Illinois FAST Center provides SBIR/STTR resources and support for startups and small businesses, helping with federal research funding applications. EnterpriseWorks startups have secured $220 million in SBIR/STTR awards.
• Job Board Employment platform listing full-time positions and student internships at Research Park companies. All corporations and startups hire independently through the platform.

Named customers10 records

Segments4 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability2 records

Partnerships

Ten partnerships are on record, tiered core, major and minor.

• Serra VenturescoreGTM or Marketing Partner · 10 March 2026Co-hosts Startup World Cup Agriculture and Food Regional with Research Park. Champaign-based VC firm investing in technology companies specializing in agriculture technologies. Has invested in over 70 companies including many from Research Park.
• GEM Realty CapitalcoreStrategic or Co-development Partner · 1 January 2018Chicago-based institutional manager of real estate investment funds. In 2018, GEM Realty Capital acquired Fox/Atkins remaining commercial buildings and became principal owner of a 12-building portfolio at Research Park.
• Fox/Atkins Development LLCcoreStrategic or Co-development Partner · 1 May 2000Partnership established May 2000 after competitive bidding process. Fox/Atkins LLC (formed by Peter Fox of Fox Development Corporation and Clint Atkins of The Atkins Group) constructed 16 of Research Park's 19 buildings. Second 10-year developer agreement signed in early 2011 and expired May 12, 2021. Implemented main community amenities including iHotel and Illinois Conference Center.
• Pegasus Tech VenturesmajorGTM or Marketing PartnerSilicon Valley-based VC firm powering Startup World Cup global series of startup competitions. Co-hosts Startup World Cup Agriculture and Food Regional with Research Park.
• Startup World CupmajorGTM or Marketing PartnerGlobal startup competition with 100+ regional events across 60+ countries. Agriculture and Food Regional hosted by Research Park offers winner opportunity to compete for $1 million investment at Grand Finale in San Francisco.
• BayermajorGTM or Marketing PartnerAgTech Summit sponsor. Global life science company with agricultural technology focus.
• John DeeremajorGTM or Marketing PartnerAgTech Summit sponsor. Agriculture equipment company with long-standing presence at Research Park through John Deere Innovation Center.
• AGCOmajorGTM or Marketing PartnerAgTech Summit sponsor. Agriculture equipment manufacturer with Acceleration Center at Research Park.
• JPMorgan ChasemajorGTM or Marketing PartnerAgTech Summit sponsor. Global financial services firm supporting agricultural innovation initiatives.
• Farm Credit IllinoisminorGTM or Marketing PartnerAgTech Summit sponsor supporting agricultural innovation and entrepreneurship.

Scale indicators14 records

Recent moves15 records

Expansion highlights6 records

Direct peers

• Research Triangle Park: One of the largest university-affiliated research parks in the U.S., founded in 1959 by NC State, Duke, and UNC. Directly comparable to UIRP in its mix of corporate R&D tenants and research commercialization mission.
• Stanford Research Park: University-operated technology park anchored by Stanford University that houses corporate innovation centers and startups. Closest comparable model combining Fortune 500 tenants, university talent, and technology commercialization.
• Purdue Research Park: Indiana-based research park affiliated with Purdue University with incubators, office/lab space, and corporate tenants; comparable Midwest STEM-focused university research park serving ag/biotech/engineering.
• University of Michigan Research & Innovation Park: University-affiliated research park operated in partnership with U-M, including lab and office facilities for startups and corporate R&D; highly comparable Big Ten university research park model.
• Georgia Tech Technology Enterprise Park / Tech Square: University-driven innovation district combining corporate research, startup incubation (ATDC), and research infrastructure—analogous STEM-focused university commercialization hub.
• Kendall Square / MIT Innovation District: Cancer-research and tech hub centered around MIT with deep life-science lab space, corporate tenants, and startups—flagship benchmark for university-affiliated research parks.
• Cummings Research Park (Huntsville, AL): Large research park adjacent to UAH with tenants in aerospace/tech; comparable model of university-adjacent corporate R&D and innovation ecosystem.

Broad incumbents

• Alexandria Real Estate (lab-space REIT): Public REIT that owns and operates life-science and lab office clusters, including university-adjacent innovation districts; broader incumbent serving the same lab/office leasing demand UIRP addresses.

Others

• Cushman & Wakefield (commercial real estate services): Global commercial real estate services firm involved in leasing, property management, and development of research and office parks—including work on UC Irvine and other university research parks.

Regional players

• Illinois Science + Technology Park (now Cobalt Partners): Suburban Chicago life-science and tech park that similarly serves as a hub for startups and corporate R&D in Illinois; relevant comparable for Illinois-based tenant mix and lab leasing.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/@IllinoisResearchPark
• Facebookfacebook.com/uiresearchpark
• LinkedInlinkedin.com/company/university-of-illinois-research-park
• Instagraminstagram.com/uiresearchpark
• Xx.com/UIResearchPark

Revenue estimate

Valuation estimate

Number of profiles

Profiles10 records

Subsidiaries2 records

Funding overview

Funding rounds1 record

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about University of Illinois Research Park