Budding entrepreneurs on campus might want to consider locating at the ISU Research Park on North Loop Drive.

The ISU Research Park was formed in 1986, but development really began in 1989 after the first building was constructed. The research park was developed after the legislature showed an interest in diversifying the state’s economy, said John Parks, director of ISU Research Park.

He said there also is a research park at the University of Iowa and about 145 others nationwide. They differ widely in how they were formed, but about 40 have a similar relationship with a state university.

ISU’s Research Park currently houses 33 companies and research centers, 12 of which are Iowa State Innovation System companies (ISIS), Parks said. The ISIS companies receive state support, which includes low-cost rent, use of computer labs and other business support resources.

The rest of the park is made up of companies that have left ISIS or were already an established company when they entered the research park.

The companies not associated with ISIS do pay commercial rent, Parks said. He said ISU Research Park also has some affiliate businesses that are not housed in the research park.

“The companies out here are involved in a variety of technologies ranging from computer visualization to plant and animal research,” Parks said.

“They like to locate out here because of the collaboration with the university,” he said. “Over 200 students also work in the Research Park.”

Parks said ISU Research Park benefits faculty members as well.

“Many of the companies are formed by researchers,” he said. “ISU has enhanced the operation tremendously.”

Steve Nissen, professor of animal science and founder of MTI BioTech Inc., said his company has been located at the research park since 1990. He said MTI employs about 10 people, and one other employee also is an ISU professor.

Nissen said it was easy to make the transition from the university to ISU Research Park.

“It was primarily the ease and the support that was available [that convinced me to locate there],” he said. “For me, it’s been real important to be able to be connected to the university’s computer systems.”

Nissen said he knows of a few other companies in the research park that have professors as founders, but he feels each company in the park is a unique entity.

“I’m not so sure it has enough of a critical mass to create a collegial research environment,” Nissen said. However, he said he gives the park high marks.

“It’s a hard job … to foster the development of entrepreneurial faculty, but yet not draw them away … from the academic community,” Nissen said. “[ISU has] done it as well as anybody I’ve ever seen.”