University Center for Innovation and Entrepreneurship
Opens to High Demand

Columbia, Mo., March 28, 2006 — The newly created University Center for Innovation and Entrepreneurship (UCIE), a partnership of University of Missouri Extension and the MU College of Engineering, held a grand opening March 13 to announce its services to the public. The event was timed to coincide with the first day of the College's 2006 Engineering Week.

Greg Steinhoff, Director of the Missouri Department of Economic Development, spoke at the opening and called the center a tremendous resource for entrepreneurs in central Missouri and statewide. The opening was attended by 120 areas business leaders, faculty and University administrators.

The UCIE brings together a wide variety of services for business owners and entrepreneurs, including the Missouri Small Business and Technology Development Centers, the Missouri Procurement Technical Assistance Centers and the MoFAST SBIR/STTR Assistance Centers.

"We've been extremely busy since we opened our doors late last year, and since the grand opening, we are even more so," says Mary Paulsell, director of operations for the University Center.

"It just demonstrates the need for the services we provide, and it's encouraging to know there are so many entrepreneurs in central Missouri seeking to start new ventures or expand existing ones. We have the potential to have a dramatic impact on the area's economic development."

The UCIE replaces the Small Business Development Center formerly housed in Cornell Hall in the MU College of Business. The transition was made to bring all client services together in one location closer to University faculty who might be interested in forming an entrepreneurial enterprise or spin-off company based on their University research. The center continues to partner with the College of Business, which supplies graduate interns and student teams to work on client cases conducting marketing research, assisting with business plans and financials and helping diagnose client issues.

The Missouri Small Business and Technology Development Center (MO SBTDC) is a partnership with the U.S. Small Business Administration, focused on assisting traditional businesses in any stage of evolution with financial analysis, marketing strategies, management issues and technology access. Counselors work with companies in the retail, service and manufacturing sectors, as well as construction, wholesale and distribution.

In addition, counselors who are trained to address high-technology and high-growth issues can assist those firms with their unique needs. Designed to improve the participation of small technology firms in the innovation and commercialization of new technology, the MO SBTDC program encourages and enhances technology research and development, technology transfer and technology deployment. One of the primary services of the MO SBTDC is the MoFAST initiative, which provides services to businesses interested in participating in the SBIR/STTR program. Services are provided via individualized consultations with a business management counselor or through educational sessions on a wide variety of topics.

The Missouri Procurement Technical Assistance Center (MO PTAC) is a partnership with the Defense Logistics Agency and is dedicated to helping entrepreneurs obtain government contracts. MO PTAC works with clients to identify bidding opportunities, assist with bid preparation, assist with registrations and certifications and provide electronic commerce and data interchange guidance.

The Economic Development Administration supports efforts to assist companies in economically distressed areas with in-depth management and production issues. In addition, the Economic Development Administration funding for the University Center for Innovation and Entrepreneurship enables the Center to serve as a catalyst to bring all of its resources together in a one-stop point of access for entrepreneurs.

The UCIE also facilitates University/industry partnerships to enable private firms to tap into the institutional expertise at the University to solve problems, refine technology, obtain individualized industrial consultations and participate in developing the high-technology infrastructure in Missouri.

Through the UCIE, businesses can obtain access to a wide range of resources including federal agencies, state agencies, other technical assistance providers and a broad network of state universities and economic development partners who participate in the MO SBTDC, MO PTAC, University Extension, EDA and College of Engineering programs.

"Our goal is to be a comprehensive access point for entrepreneurs," Paulsell says. "If for some reason we do not possess the skills needed to address a particular problem, we have access to an extensive network throughout the state and can find our clients the most appropriate resource for their needs."

A full training curriculum and more information about the center and the staff are available at www.missouribusiness.net/ucie.

For more information, contact:
Mary Paulsell, Director of Operations
573/882-1353 or paulsellm@missouri.edu
www.missouribusiness.net/ucie