Dayton OH, April 5, 2017:
The University of Dayton and The Entrepreneurs Center have joined in partnership and submitted a letter of intent to become the anchor tenants of the Arcade Innovation Hub and will work together to bring other community, higher education, research and corporate partners into the space.
Scott Koorndyk, president of The Entrepreneurs Center, said: “The Hub will be visible proof that Dayton’s long heritage of innovation is alive, healthy and growing. It’s exciting to partner with UD to make this iconic space in the heart of downtown more than just a symbol of our history, but a catalyst for the future of our region’s innovation economy.”
If current development plans continue, the Arcade Innovation Hub would include mixed-use space for: academic, research and experiential learning programs for the University; start-up companies; venture or angel capital organizations; commercialization or entrepreneurial development partners; corporate partners; and collaborations with other higher education institutions.
The Hub would also include event space in the rotunda for academic and entrepreneurial programs as well as community events. Also envisioned is a community innovation center for neighborhood businesses and nonprofit ventures, with a special focus on women and minority-owned companies.
“This downtown hub, envisioned as a collaboration among entrepreneurs, higher education, research institutions, and arts and cultural organizations, will be available for students, faculty and staff pursuing innovation,” University of Dayton President Eric F. Spina said.
“This will be a place where students from a variety of disciplines engage in experiential learning by innovating or supporting others from across the community who are creating new ventures. It will be a place where our students gain confidence that they can, indeed, work in community to change the world,” he said.
Sinclair Community College has expressed its strong intention of working with the University and The Entrepreneurs Center as initiatives in the Arcade move forward, especially in the development of entrepreneurs and start-up companies.
The University’s involvement grew from the long-range strategic vision for the University’s next 20 years, unveiled by Spina April 4. Developed with the input of 3,000 members of the UD family, as well as constituents, partners and others across the region, the vision calls upon the University to develop an orientation “for the common good” in all aspects of the institution.
A key element of the strategic vision includes developing deeper collaborations with greater impact to catalyze investments and entrepreneurship, and establishing a presence as an anchor institution in downtown Dayton.
The City of Dayton last week approved a 50-year lease and $1 million professional services agreement with developers Miller-Valentine Group and Cross Street Partners; closing on the property is targeted for this summer.
Scott Koorndyk, President
The Entrepreneurs Center
University of Dayton