December 1, 2009

BizTech and The University of Alabama in Huntsville have created a formal partnership to enhance the overall mission and goals of each organization and to provide a specific focus on the commercialization of appropriate technologies emanating from UAHuntsville.

The agreement creates the Technology Innovation and Commercialization Alliance, which will allow an even closer collaboration between the university and BizTech.

"This alliance will enhance the cooperation between our university and BizTech and will provide even more opportunities of success for young, fledgling companies," said John Horack, Vice President for Research at UAHuntsville. "We anticipate this agreement will continue to accelerate the 'idea to marketplace lifecycle.' " 

Horack added that the alliance complements the university's mission in a number of ways. Examples include having access to a highly-qualified incubator for intellectual property commercialization, providing a "home" for the university's spin-off companies, and creating a location where UAHuntsville students can gain real world entrepreneurial experience.

Bob Thurber, vice-chair of BizTech's board of directors, said his organization also benefits from the closer working relationship.

"This will provide us with a source of students and faculty who will be able to support the many needs of its client companies," he said.

At the same time, Thurber said BizTech will benefit from getting a number of new highly-qualified client prospects with intellectual property that has already been developed.

The three-year agreement is effective December 1, 2009. The alliance will include a relationship manager from each of the two organizations: the BizTech CEO and Kannan Grant, the director of the Office of Technology Commercialization for the campus.

The alliance will be governed by Horack, Thurber, Grant, the BizTech CEO and a fifth member appointed by mutual agreement.

 BizTech is Huntsville's largest non-profit business incubator and is focused on assisting start-up companies in information technology, energy, biotechnology and healthcare. It provides office space, mentoring, access to investors, training and an array of business support services.

The University of Alabama in Huntsville is a doctoral-granting, "high research activity" institution with approximately 7,700 students. Its mission is education, research and service to the community. The university carries out this mission through collaboration with the community to effect technology transfer and economic development in Alabama, the region and the United States.

---

Business Technology Development Center, Inc.
515 Sparkman Drive
Huntsville, AL 35816
Email BizTech
Phone: 256.704.6000
Fax: 256.704.6002