University of Memphis Research Foundation Renames Research Park in Advance of Multi-Phase Expansion
The CommuniTech initiative, which represented the first phase of the research park, has been renamed UMRF Research Park to be directly linked to the University of Memphis Research Foundation that is managing the three-phase development of the university’s research park. With the establishment of this research park, the University of Memphis is strengthening its role as a research-based driver of economic development in the region.
The research foundation plans to build on its initial success of the pilot launch held in late January and expand in at least two more planned phases. Phase One was the opening of the first facility in the heart of the University District. Phase Two will be the development of an applied research facility located on the Park Avenue Campus later this year. Phase Three will center on public-private partnerships to attract research enterprises and labs to the University District. The development of the UMRF Research Park is being spearheaded by the University of Memphis Research Foundation, which will lead operations for all three facilities and services.
By renaming the entire multiphase project, this establishes a permanent partnership with the research park and invites additional growth as envisioned by the University of Memphis Research Foundation, in support of research and innovation taking place at the University of Memphis. This growth will bring more companies to Memphis, who will in turn, will provide more jobs for UofM students and grow collaboration efforts with UofM scholars and researchers.
The first phase assembled an inaugural cohort of 17 citizen companies and collaborator members. Citizen companies reside in the facility and work with UofM students. These companies will work with UofM faculty and staff to grow in the University District over the coming years. Another set of companies called “collaborators” will also participate in the larger innovation community-based in the facility. For additional information, contact Troy Parkes at email@example.com.