The Innovation Center seeks creative ideas, fosters innovation, and develops economic leadership.
- Attract and retain people in the community, particularly those who are highly skilled and educated
- Expand diversity of the workforce
- Increase private investment in new and expanding local businesses
- Enhance educational opportunities for all
- Improve the quality of life in the community
- Increase technological opportunities for new and existing companies
- Contribute to the continual success of the Central Business District
Are you considering starting a new technology based business?
Let the Innovation Center help you navigate through the small business world with much greater success. The Innovation Center is a place where an entrepreneur has the opportunity not only to develop and commercialize their innovations, but the needed support and services required to guide them through the start up years in a compelling, magnetic environment with a high level of camaraderie and synergy.
Through a comprehensive program of incubation, education, networking and mentoring, the Innovation Center provides basic business assistance to resident businesses as well as shared office services, T1 line, flexible leasing and room to grow!
The Innovation Center, East Central Indiana’s first business incubator, officially opened its doors on March 1, 2004. It was developed with a public- private partnership between the City of Richmond, Center City Development Corporation (formerly Main Street Richmond Wayne County), Indiana Construction Partnership and local companies, organizations, foundations and corporations. The 1.4 million dollar, 10,000 sq. ft. facility houses a ten suite business incubator, state of the art training facility, formal board room and video conferencing rooms.
The goal was to diversify our local economy while strategically positioning our center city area for growth, investment and job creation. Center City Development Corporation wanted to develop a facility that would create an environment which would foster entrepreneurship, allowing not only young companies to grow and develop but strengthen existing local companies as well, ultimately resulting in a stronger local economy.
The Innovation Center is a place where an entrepreneur has the opportunity not only to develop and commercialize their innovative products, but also has the needed support and services required to guide them through those difficult start up years in a compelling, magnetic environment with a high level of camaraderie and synergy.
Business incubators reduce the risk of small business failures. The National Business Incubation Association (NBIA) reports that 87 percent of clients that graduated from incubators are still in business after five years.
The development of the Innovation Center would not have been possible without the tremendous collaborative support and effort from our business community, Ivy Tech Community College of Indiana, Indiana University East, Purdue University, Earlham College, Richmond Community Schools, Indiana Department Of Commerce, City of Richmond, Richmond Power and Light, Richmond Wayne Country Chamber Of Commerce, Economic Development Corporation of Wayne County, Urban Enterprise Association of Richmond, Economic Growth Group, Wayne County Foundation and the citizen’s of Wayne County.