Thank you for sharing!

Your article was successfully shared with the contacts you provided.

BLOOMINGTON, IN-Indiana University broke ground just hours ago today on the Bloomington Incubator, a 40,000-square-foot building on the campus that will be open to leasing to private life science and internet technology start-up companies. The development will cost $10 million, according to the university.

The building is going up on university-owned property at 10th Street and the State Road 45-46 bypass. According to a university statement, Pervasive Technology Labs has already signed on to lease in the building. The firm was created in 1999 with a $30-million grant from Lilly Endowment Inc., which also announced today that it will provide the university with a five-year, $15 million endowment to establish the Pervasive Technology Institute in the building. It’s not clear how much space Pervasive will take in the building. University officials did not return calls for comment.

The Institute will be made up of three divisions. The Digital Science Center will focus on creating an intuitively usable cyber-infrastructure with tremendous capabilities for supporting collaboration and computation. The Data to Insight Center will create new tools to understand and gain insight from the vast quantities of data now produced in digital form. The Center for Applied Cybersecurity Research will lead the creation of IT security policy, security monitoring tools and secure applications in critical areas of cyber-infrastructure, including personalized health.

University president Michael McRobbie said in a statement that the new building is part of Innovate Indiana, a project to expand economic development across the state behind the central office of the IU Research and Technology Corp. “This undertaking represents a long-term commitment by Indiana University to provide our research scientists with all the support and assistance they will need to transform the discoveries and great ideas generated in their laboratories into marketable products and services,” McRobbie said in the statement. “Ultimately, all of Indiana will benefit from the jobs and economic vitality generated by this collaboration between public research and private entrepreneurship.”

The university already has another incubator, a 98%-leased, 67,500-square-foot building on the Central Canal in Downtown Indianapolis. That building has 23 tenants.

Bill Stephan, IU VP for engagement, said in the statement that the incubators will attract other nearby development. “The area around the (Bloomington) incubator is fast becoming the focus for a wide range of life science and tech-based enterprises and will serve as the anchor for the university’s technology corridor, which will extend north along the bypass to the IU Cyclotron facility,” he said.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 3 free articles* across the ALM subscription network every 30 days
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2020 ALM Media Properties, LLC. All Rights Reserved.