MU Business Incubator Receives International Recognition
COLUMBIA - The MU Life Sciences Business Incubator learned Wednesday it has received international recognition from the National Business Incubator Association, or NBIA. The NBIA recognized MU's incubator for its high standards and its practice requirements. The goal of the incubator is to bring companies from all over the world to Columbia in order to strengthen economic development.
In 2004, A joint iniative was launched to establish a business incubator to support economic development in mid Missouri.
The facility was completed less than two years ago, and it is already receving high praise.
The incubator currently has 15 companies. Ten of those are University spinoff companies, while the other five have been recruited.
Four of those five are internationally operated, which is two more than the requirement.
Incubator President and CEO Jake Halliday says it's just the beginning.
"It's not a one time award, it's an award you have to sustain. It requires re-application every two years to demonstrate that you're still offering specialized programs at a high level," said Halliday.
He says there is still room to grow.
"I would expect that the sophistication of doing this will continue to improve. We're learning all the time," said Halliday.
Halliday says he hopes that even more international companies will come to Columbia in the future.