National incubation network and innovation management provider 1776 has formed a partnership with 16 Tech Community Corporation to help establish a 100,000-plus square foot innovation hub in the 16 Tech Innovation District located within the Indiana Avenue Cultural District near downtown Indianapolis. The 16 Tech Innovation Hub will open in early 2021.
The 16 Tech Innovation Hub, currently under construction, is an adaptive reuse of the former headquarters of the Indianapolis Water Company. The Innovation Hub will serve as the heartbeat of the 16 Tech Innovation District, where makers, innovators and entrepreneurs will have access to space, resources, programs and creative energy to incubate new ideas and scale their businesses.
The Innovation Hub will include 50,000+ SF of flexible office, incubator and meeting space managed by 1776, as well as a 15,000 SF makerspace, and a 40,000 SF artisan marketplace with food options and ample event space. Innovators and entrepreneurs in all fields, including life sciences, technology, advanced manufacturing, engineering, social impact, food and lifestyle will come together to leverage their varied skill sets, draw inspiration from the region’s top-ranking research universities and global corporations, and channel their combined creative energy to plant the seeds for Central Indiana’s future economic growth.
“The Indianapolis region has a thriving tech community and is home to global life sciences and advanced manufacturing corporations and the nation’s leading medical school. The 16 Tech Innovation District is where all of these regional assets will converge,” said Bob Coy, president and CEO of 16 Tech Community Corporation. “1776 recognized our region as an emerging center for innovation and an ideal location to establish its first Midwest partnership.”
With 16 Tech, 1776 continues to expand its innovation collaboration efforts that include, among others, the Pennovation Center in Philadelphia, the Cherry Hill Mall campus in Southern New Jersey, and the Greencourt Innovation Center in suburban Washington, DC. “1776 is thrilled to partner with 16 Tech. Collaborative relationships are vital to our mission to transform markets and curate diverse communities that foster creative and innovative solutions to the world’s most complex challenges. Indianapolis creators and innovators will have full access to 1776’s work and meeting spaces, growth-focused services, mentor network, programming and online resources,” said Jennifer Maher, Chief Executive Officer of 1776.
16 Tech and 1776 are actively seeking collaborations with Central Indiana corporations, institutions, venture capital and organizations. Current stakeholders include the Indiana Biosciences Research Institute, Central Indiana Corporate Partnership (CICP) and Indiana University School of Medicine in addition to philanthropic support from Lilly Endowment Inc. and Richard M. Fairbanks Foundation.
The 1776/16 Tech partnership promises more entrepreneurial energy and economic development across the entire Central Indiana region. 16 Tech Innovation District aims to be a catalyst for new and expanded businesses, more jobs, and greater investment—all the ingredients needed for a thriving innovation ecosystem.
1776 is the nation’s largest network of business incubators that cultivates and empowers companies and entrepreneurs to fuel innovation and growth. 1776 transforms markets by curating communities of entrepreneurs and enterprises in flexible work environments. Our members gain access to a dynamic network and focused programming to provide the knowledge and resources necessary to spur innovation and solve complex challenges. With 10 campuses across five states, we are the nation’s largest network of incubators. For more information, please visit www.1776.vc and follow @1776 on Twitter and @1776vc on Instagram.
The 16 Tech Innovation District is one of the largest talent attraction, retention and development opportunities in Indianapolis’s history. Located on the northwestern edge of downtown Indianapolis, 16 Tech will bring talent together to collaborate and drive cross-sector innovation in advanced industries. The nonprofit 16 Tech Community Corporation oversees the development of the district and ensures benefits of economic growth, new investment and job creation extend to nearby neighborhoods as well as the city, the region and the state. More information can be found at www.16tech.com.