Hyde Park Labs launches to support UChicago STEM startups
- Hyde Park Labs is a 300,000 square-foot commercial lab space designed to support startups from the University of Chicago.
- The UChicago Science Incubator occupies 55,000 square feet and facilitates collaboration between emerging companies and university resources.
- The opening of this facility aims to foster innovation and research, solidifying Hyde Park's reputation as a hub for science and technology.
In Chicago's Hyde Park neighborhood, a new commercial lab space named Hyde Park Labs has recently opened its doors to support startups emerging from the University of Chicago. This 300,000 square-foot facility, located at 5207 S. Harper Ave, aims to provide essential lab space for budding science and technology companies. The UChicago Science Incubator, a partnership involving the Polsky Center for Entrepreneurship and Innovation and Portal Innovations, occupies about 55,000 square feet of this facility. The grand opening for Hyde Park Labs was set about two and a half months after its initial opening, marking a significant step for nurturing innovation in the area. The establishment of Hyde Park Labs stems from a growing need for lab space close to the University of Chicago, where research activities have surged. John Flavin, the CEO of Portal Innovations, highlighted the lack of facilities available for researchers transitioning their ideas from conceptual stages to practical applications. The UChicago Science Incubator will provide a supportive environment for numerous companies founded by graduates and researchers from the university, allowing them to utilize nearby university resources, including internships, labs, and mentorship from established professors. Among the startups utilizing the incubator is memQ, a company focused on networking quantum computers at data center scales instead of building them. Early-stage companies like memQ benefit significantly from access to specialized lab equipment and facilities, crucial for their research and development. Dan Lyne, a CBRE executive vice president, emphasized the rich history of innovation linked to the University of Chicago and the importance of Hyde Park Labs in continuing this legacy. The interplay of new sciences such as quantum computing and artificial intelligence is expected to foster breakthroughs that can effect profound changes in lives. Hyde Park Labs serves as a cornerstone in the redevelopment project for Harper Court at the intersection of 53rd Street and Lake Park Avenue. The area, known for its vibrant history and local businesses, will not only be revitalized through this new facility but will also enhance the ecosystem necessary for innovation. The proximity to a multimillion-dollar quantum campus further supports this initiative, aiming to position Hyde Park as a hub for cutting-edge scientific research and entrepreneurship.