Baylor Research and Innovation Collaborative

Baylor University has announced the creation of a new Central Texas Technology and Research Park, the region’s first research park. The Baylor Research and Innovation Collaborative (BRIC) is the first project for the research park and will include a significant partnership with the Hankamer School of Business and the Baylor Entrepreneurship Program. The research park is a collaboration of Baylor University, Texas State Technical College (TSTC), The City of Waco, and a number of other regional education and government partners.

“The primary purpose of BRIC is to enhance regional applied research capability; provide cutting edge workforce training and development; encourage collaboration between higher education, business, industry, governmental entities and communities; and to encourage technology transfer and commercialization of research in order to foster economic development within the region,” said Dr. Elizabeth Davis, interim provost of Baylor University.

“These successful research parks also demonstrate the power of strong student engagement. It is an extremely potent learning experience for the students and provides affordable assistance for young and emerging ventures.”Phase one of the BRIC development involves a $20 million renovation of a 300,000 square foot former General Tire facility that is located adjacent to the Baylor campus. The building will be ready for use in approximately 15-18 months. The funding for the project came from a partnership between Baylor University and the Texas State Legislature, which provided funding to TSTC for capital expenditures and renovations for collaborative research projects. Each group provided $10 million for the first phase of the project.  

“Looking at other successful models for fostering economic development via University research parks and incubators shows that the broad support and collaboration already in place at Baylor is essential,” said Dr. Greg Leman, director of University Entrepreneurial Initiatives. “These successful research parks also demonstrate the power of strong student engagement. It is an extremely potent learning experience for the students and provides affordable assistance for young and emerging ventures.”

Leman added, “The infrastructure of the park and the BRIC itself is like hardware, and the network of committed partners can function like an operating system, but there also needs to be application software in place: the how-to of creating successful businesses from technical inventions. That software is what the Hankamer School of Business will need to provide.”

As part of BRIC, the Baylor Business Resource Center (BRC) will provide a number of key services to support new venture development in addition to business incubation. Business assistance on a one-stop-shop basis will be available to incubator companies in a wide range of areas such as business planning, financial analysis, inventory control, marketing, and customer service.

Graduate entrepreneurship interns will manage the incubator under the supervision of a faculty member and will be instrumental in providing research and consulting advice to firms. In addition, student project teams such as those now engaging in technology commercialization plan development in Leman’s Technology Entrepreneurship classes will collaborate with inventors and venture owners wherever they can bring value as they learn.

In addition to business consulting, the BRC will provide training for entrepreneurs and small businesses, will offer executive education workshops and seminars, and offer a regular speaker series. The BRC will also facilitate access to capital for new ventures through organizations such as the Baylor Angel Network, venture capital financing and SBA loan programs.