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Tech 20/20 named one of top business incubators in the country

(EDITOR’S NOTE: The following news release was issued by Tech 20/20.)

OAK RIDGE, Tenn.— The University Business Incubator (UBI) Index based in Sweden has named the top university business incubators in the world, and Tech 20/20 was one of only four in the United States that made the list.  Tech 20/20 was ranked in the top six internationally.

The group reviewed 550 university business incubators and studied 150 incubators to determine the top incubators in the world based on their value for the ecosystem, their value for clients, and their attraction rate and past performance. Incubators in the United States that made the UBI Index Top list include Rice University & Rice Alliance for Technology and Entrepreneurship, VentureLab, the University of Buffalo Technology Incubator and Tech 20/20.

“To be recognized as one of the top incubators in the world is a milestone achievement for Tech 20/20, and when you look at how many tremendous programs are out there, it’s truly an honor to make this list,” said John Morris, president and CEO of Tech 20/20.  “For nearly two decades, our team has received enormous support from the University of Tennessee and the Oak Ridge National Laboratory, as well as many regional partners.  This recognition, along with the successful graduate businesses, reinforces that our efforts are on track.”

Historically Tech 20/20 has assisted more than 214 companies, creating more than 1980 jobs with an average salary of $64,861 and having a payroll impact of $128,424,780.  That’s a total economic impact of over $260 million.

Tech 20/20 celebrates the accomplishments of the client companies and acknowledges those who have reached a high level of success.  By reaching the milestone of at least one million dollars in capital raised, annual revenue or company exit, Tech 20/20 distinguishes those companies by inducting them into the Million Dollar Club.  With the assistance of Tech 20/20, more than 35 companies have been inducted into the club.

To see the full 2013 UBI Global List, visit: http://ubiindex.com/start/.

Tech 20/20 was chartered as a non-profit public benefit corporation in 1995 and has been engaged in educational and entrepreneurial activities to stimulate economic growth throughout Tennessee and the multi-state Appalachian corridor.  Today, Tech 20/20’s focus is to create and accelerate the development of high-growth potential companies and jobs by capitalizing on the region’s unique technology resources.  The Oak Ridge Campus houses several of Tech 20/20’s initiatives and programs designed to help move technology into the marketplace.  These programs include the Centers for Entrepreneurial Growth, Tennessee Valley Tech Council, the Venture Exchange Forum and the Advanced Manufacturing and Prototype Center of East Tennessee.  Tech 20/20 manages over 25,000 square feet of incubator space for new and growing businesses.

For more information about Tech 20/20, please visit www.Tech2020.org.

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