Indiana University has launched a technology center to help scientists attract research funding and drive discoveries that could be turned into life sciences and information technology businesses.
The Pervasive Technology Institute will be funded by a $15 million commitment from Lilly Endowment, and be located in the new business incubator IU is building at 10th Street and the State Road 45/46 bypass.
The announcement was made this morning during a ground-breaking ceremony for the incubator, which will have 40,000 square feet and is modeled after the IU Emerging Technologies Center in downtown Indianapolis. The Bloomington incubator is slated to open in July.
Several IU computing and information technology arms will be housed within the institute. Among them are the School of Informatics and IU's Pervasive Technology Labs.
To see an architectural rendering of the incubator, to go IBJ's real estate blog, Property Lines.