Indiana University is selling its research center in Indianapolis and moving it to the former Wishard Hospital on IUPUI’s campus. IU officials say the move is part of a strategic plan to help faculty commercialize their research and develop start up companies.
The Research and Technology Corporation moved into a former furniture warehouse on Tenth Street in Indianapolis in 2003.
IU is now planning to put the building on the market. The University is investing $100 million to renovate the former Wishard Hospital site and move the Innovation Center there.
Bill Stephan, IU Vice President for Engagement, says the new location allows IURTC to be closer to faculty and students and keep up with changing technology.
“We think it provides a real unique opportunity for us to work ever more closely with a key constituent group mainly our faculty, our researchers and students that we haven’t had at our location on Tenth Street,” Stephan says.
Last year the Corporation helped faculty secure 35 patents and launch 16 startup companies.
Stephan says the new location will help increase those numbers even more. The renovations are expected to take between a year and a year and a half to complete.