University of Memphis Initiates UMRF Research Park to Spur Research-Based Economic Development

January 15, 2019 - The University of Memphis is strengthening its role as a research-based driver of economic development in the region with the establishment of a UMRF Research Park in three phases. Phase One is the opening of the first facility in the heart of the University District. Phase Two will be the development of an applied research facility located on the Park Avenue Campus later this year. Phase Three will center on public-private partnerships to attract research enterprises and labs to the University District. The development of the CommuniTech Research Park is being spearheaded by the University of Memphis Research Foundation, which is operating the facilities and services.

The grand opening of UMRF Research Park was held Jan. 17 at 460 S. Highland St. in the University District. The first phase has assembled an inaugural cohort of 17 citizen companies and collaborator members.

"We are excited to create jobs and opportunities for Memphis and our students," said UofM President M. David Rudd. "We welcome companies from all over the world to work with our faculty and students, benefit from our world-class research, and engage an innovative community of companies and scholars."

Citizen companies who are moving into the facility and working with UofM students are:

  • SweetBio, a Memphis-based biotech company disrupting the wound care industry with innovative Manuka honey-incorporated products (developed in partnership with the University of Memphis)
  • DayaMed, a Toronto-based B2B2C digital health and analytics company that provides real-time medication adherence
  • Minute School, a Waterloo-based learning management system solving continuing education opportunities in higher education and beyond
  • BookLocal, a Memphis-based blockchain travel company enabling hotels to tokenize, manage and rent their room inventory with the security of the blockchain
  • Green Mountain Technology, a Memphis-based technology company providing highly customizable parcel spend management solutions
  • XYO Network, a San Diego-based blockchain company building a people-powered location network built on the blockchain
  • Ops-Fuel, a veteran-owned, Memphis-based company helping soldiers, athletes and others achieve better brain health

These companies will work with UofM faculty and staff to grow in the University District over the coming years. Another set of companies called "collaborators" will also participate in the larger innovation community based in the facility. They are: DexFreight, Blockchain901, Web3Devs, IBM, IMC Companies, Tech901, Epicenter, Memphis Women in Technology, Remedichain and CodeCrew.

"We will also be celebrating nine new U.S. patents that have been issued to faculty researchers in the last year and are now available for licensing and commercialization through new start-up ventures in partnership with the University," said Dr. Jasbir Dhaliwal, the University's executive vice president for the Division of Research & Innovation.

For additional information, contact Cody Behles at cbehles@memphis.edu.