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High-Tech Incubator Opens at UTC

incubator1
Chancellor Roger Brown chats with Hamilton
County, District 3 Commissioner
Charlotte Vandergriff.

An open house and ribbon cutting marking the opening of the Hamilton County High-Tech Incubator-Accelerator was held at the University. The new Incubator-Accelerator, which will focus on the creation and development of high-tech companies, operates under the auspices of the Center for Entrepreneurial Growth, a Chattanooga Area Chamber of Commerce program.

UTC, The Chamber, and the County formed a partnership to fund, manage and house the incubator/accelerator.

Chancellor Roger Brown called it "a very proud day for UTC." Our mission requires us to be deeply engaged in the economy of this community,” Brown said. “The CEG already has 35 clients, representing over 100 employees and approximately $5 million in revenues."

incubator2
Hamilton County Mayor Claude Ramsey,
Chancellor Roger Brown and Congressman
Zach Wamp cut the ribbon on the CEG.

Dr. Richard Casavant, Dean of the College of Business, Mayors Claude Ramsey and Congressman Zach Wamp also took part in the ceremonies in the new facility located in the UTC engineering building.

"It is so appropriate that the CEG is located at UTC," said Congressman Zach Wamp. "It is our vision to bring academia, technology growth and manufacturing all together to make things happen. It is a bold vision; we're ready for this to provide energy and manufacturing solutions for the whole world."

John Riddell, vice president of the Center for Entrepreneurial Growth, explained that clients selected for the program have access to cubicles, AV equipment, conference room facilities, business development counseling and support from UTC engineering and business faculty – all at no charge.

incubator3
John Riddell, Hamilton County Mayor Claude
Ramsey, Congressman Zach Wamp look
on as Chancellor Roger Brown
addresses the gathering.

“Clients are required to participate in a structured business development process to ensure a solid foundation for future business success,” Riddell said. “Our purpose is to rapidly move start-up companies from idea to product or software.”

Riddell pointed out that grants and a loan program are also included in the Incubator-Accelerator program to assist high-tech companies with start-up challenges.

After clients complete their experience at the Incubator-Accelerator, they may move into the Business Development Center—the Chamber-managed business incubator on Cherokee Boulevard—or to other space of their choosing.

Riddell thanked the officials present for forming the strategic partnership that made the new Incubator-Accelerator possible.

For more information about the high-tech incubator contact Riddell at (423)763-4356.

January 27, 2006

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