July 12, 2024
K-State launches startup space to foster university innovation
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Located in Manhattan’s Edge District, the LaunchPad is a collaborative and creative space dedicated to empowering Kansas State University faculty and student entrepreneurs who are looking to launch technology-based businesses with high-growth potential. |
Kansas State University is helping entrepreneurs get on their feet with LaunchPad, a new initiative designed to foster and support university-related startup companies within the EDGE Innovation District on the Manhattan campus.
The LaunchPad initiative aims to provide a physical location and phased process for university startups to launch, grow and scale their business, without facing the immense logistical hurdles that early-stage startups often struggle to overcome.
The primary LaunchPad suite offers six individual offices surrounded by 700 square feet of shared collaboration space at 1800 Kimball Ave. This space is offered as a temporary courtesy space for the launch of early-stage seed and pre-seed companies.
Companies will then be able to seamlessly transition into reduced rate accommodations as they reach an early growth stage and ultimately advance into fully leasable office space in the EDGE District as they begin to scale.
Ken Williams, chief commercialization and licensing officer for K-State Research Foundation, said implementation of the concept helps entrepreneurs and budding startup businesses establish credibility and legitimacy.
"Space like this is an important supporting element for a viable university startup ecosystem," Williams said. "Having a physical business location near to, but separate from, the academic facilities from which these concepts and technologies originate provides a level of legitimacy to the new company for capital investment, employee recruitment and growth purposes while also maintaining an ease of continued engagement with important university collaborators."
According to SCORE, a national nonprofit dedicated to helping small businesses and entrepreneurs, physical office spaces offer startups several benefits, including a professional atmosphere, improved collaboration and networking opportunities.
David Rosowsky, vice president for research, understands this need and was the driving force behind building a supportive environment for university entrepreneurs and startups. Rosowsky and the KSU Foundation Real Estate Management team identified dedicated space for faculty and students who are committed to engaging in commercial deployment of university technology via the launch of a startup company.
"This space not only helps to reduce the stress of locating and securing a physical location for these new businesses, but it also helps reduce the overall capital needs of university startups so their limited resources can be used for critical research, development and marketing activities during their first few critical years of existence," said Rosowsky.
The strategic location of the LaunchPad space also offers startups close proximity to research partners, student interns and employees, as well as support from resource providers such as the K-State Research Foundation Technology Commercialization and New Ventures Development Group and the KSU Foundation Real Estate Management Team.
The LaunchPad initiative aligns with the Next-Gen K-State strategic plan by driving transformational discovery, innovation and scholarship, integrating engagement across all we do and investing in the jobs and economies of tomorrow. Additionally, it enhances pathways to intellectual property commercialization and establishes systems and structures to connect partners with talent and innovation.
"We are very optimistic that this initiative will increase the rate of startups emerging from the university and enhance their chances of success," said Rosowsky.
Ultimately, the initiative aims to boost the regional and state economy through the launch and growth of new companies within Kansas.
All spaces offered under the program provide access to the full suite of amenities offered within the EGDE office complex, including a multitude of conference and meeting spaces, an on-site full-service restaurant, coffee shop and 24/7 fitness center.
Learn more about the initiative and how it supports university startups on the LaunchPad website or by contacting the KSU Foundation Real Estate Management Team.