A business incubator in downtown Riverside created by officials from the University of California, Riverside, City of Riverside and Riverside County and business leader had it’s grand opening the past Wednesday, November 12.
Four companies, three started by UC Riverside professors and one by an alumnus, have been approved for the Riverside ExCITE Incubator, located at 3499 10th Street. One of the companies has moved in and others plan to move in in the near future.
There is space for up to six companies and several others have expressed interest in moving in. The space is available to any start-up companies in the community, not just those connected to UC Riverside.
“It has been hard to create new companies based on technology developed at the university out of the university,” said Michael Pazzani, the vice chancellor for research and economic development at UC Riverside and one of the directors of the incubator. “This will make it easier. It will also encourage faculty to start new companies and commercialize the technology they develop.”
The incubator is designed to facilitate the successful incubation and acceleration of start-up companies engaged in entrepreneurial research and development of advanced technologies. Incubators such as ExCITE are great examples of the Seizing Our Destiny’s intelligent growth pillar.
The incubator aims to increase the number of successful start-up businesses in the region by providing a location for business synthesis, mentorship and management; access to financial resources and information; access to marketing and professional services; and technology transfer from domestic and foreign universities, organizations and governments.
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