Business Incubator
New Biotechnology Incubator fosters Research & Development
In 2005, The Ardmore Development Authority, The Samuel Roberts Noble Foundation and the Southern Oklahoma Technology Center (SOTC) formed a partnership to create a business incubator facility, the Ardmore Technology Transfer Center, to recruit and retain technology oriented companies to Ardmore, Oklahoma. Business incubators are facilities designed to accelerate the development and success of start-up and existing businesses.
The advantages to a tenant locating in the incubator include more affordable lease space and access to an array of on-site managerial, administrative and financial services that assist the companies in overcoming challenges faced in the market place. In addition, tenants are exempt from state tax liability on income earned on activities conducted at the incubator for up to ten years. The exemption is valid after the company moves out of the incubator.
The ADA, with the help of the Noble Foundation, has established Ardmore, Oklahoma as part of the Oklahoma Biotechnology Corridor which includes Stillwater, the Greater Oklahoma City Area and Ardmore. The potential for professional collaborations with the Noble Foundation also serves as an attraction to prospective companies.
The Technology Transfer Center has received accreditation
from the Oklahoma Department of Commerce and two companies,
IMTEC Imaging LLC and Amethyst Research, Inc., are currently
located in the incubator. The long-term objective of this
project is to create a technology park in Ardmore, Oklahoma
focused on commercial ventures based on scientific research.