CEO: 16 Tech growth adding to ‘broader ecosystem’
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As a subscriber you can listen to articles at work, in the car, or while you work out. Subscribe NowThe CEO of 16 Tech Community Corp. says the upcoming developments within the innovation district near downtown Indianapolis will not only help achieve the goal of creating a “24/7 environment,” but also make it easier for companies to get to the product development stage.
Last month, the district announced plans for two new buildings, including a 100,000-square-foot laboratory building. Construction is also underway on The Vanguard, a 285-unit multifamily residential building that will include 1,900 square feet of retail space.
Emily Krueger told Inside INdiana Business Host Gerry Dick that the latest developments will help 16 Tech address the two key problems it was created for.
“One [is] the lack of innovation driven enterprises that were forming and scaling in Indianapolis and to also a need to attract and retain talent,” Krueger said. “And so residential is part of what is a key ingredient and making a 24/7 environment. And that 24/7 environment is ultimately essential to fostering an overall innovation ecosystem.”
Among the new developments is Waterway Labs, a five-story building that will include built-to-suit lab space, offices and fully furnished labs, our partners at the IBJ reported last month. The second is a 40,000-square-foot office space dedicated to sports- and health-focused tenants.
Krueger said, particularly with the lab building, 16 Tech will be better able to provide resources to make it easier and cheaper for companies looking to create physical products.
“These two buildings that we have will bring additional wet lab space to the market, particularly something that’s called graduation space,” she said. “So, when a company reaches a size and stage that it needs dedicated space, but a turnkey solution, we’re going to bring that to 16 Tech.”
Innovation districts are popping up more around the state. In Bloomington, officials broke ground on a new tech center in the city’s Trades District, which is part of a vision of a potential sci-tech corridor stretching from Naval Surface Warfare Center, Crane Division up to 16 Tech and further toward West Lafayette.
Krueger said the idea shows the depth of Indiana’s innovation assets.
“All of us who are involved in these spaces are working hard to align them so that way, for those who are interested in doing business in Indiana, they recognize that there are a variety of resources and when they come and they locate, whether it’s at 16 Tech or whether it’s at The Mill or whether it be in the LEAP District,” she said. “They’re supported by a broader ecosystem that can help them with the different resources they might need at different stages of growth.”