But it is this type of entrepreneurial spirit that has driven the U.S. economy for decades and will continue to do so in the years ahead. The owners may not have a lot of cash and, while highly technical, probably have little knowledge in marketing and running a business.

But these are the entrepreneurs behind innovative new products.

To help alleviate some of the costs associated with startup companies, colleges and universities around the country have developed research parks.

Research parks can provide affordable office and laboratory space, council and direction, and administrative and legal assistance.

A university research park has existing or planned land and buildings designed primarily for research and development facilities, and high-tech and science-based companies; a contractual and/or formal ownership or operational relationship with one or more universities or other institutions of higher education and science research; a role in promoting research and development, assisting in the growth of new ventures and promoting economic development; and a role in aiding the transfer of technology and business skills between the university and industry tenants.

The Missouri Research Park has been a catalyst for high-tech development along the Highway 40/61 corridor in St. Charles County in the St. Louis metro. Major corporations have followed the trend and are clustering near the Missouri Research Park.

The Missouri Research Park has undergone a surge of activity and growth, with recent expansions totaling more than 280,000 square feet. The growth will result in the addition of 1,000 jobs.

Improving economic conditions for high-tech companies and the desirable infrastructure amenities offered at the park have sparked the growth, said Rick Finholt, executive director of the Missouri Research Park.

“The high-tech sector is rebounding, the economy is improving, we have new companies coming in and some of our existing tenants are undergoing significant expansions,” he said.

Natoli, a developer of pharmaceutical tooling, parts and machinery, expanded operations with the completion of a new 40,000 square foot research and technology building, the company’s third facility at the Missouri Research Park.

Natoli added 30 jobs during the past year and expects to add 20 more jobs at the new building. Overall, the company has a work force of 130.

The company has been a tenant since 1995.

“We have enjoyed a very productive partnership with the University of Missouri,” said Carmelo Natoli, president of the company. “The Missouri Research Park has a lot to offer. Our customers come in and see the growth occurring at the park.”

Linco Research Inc. founder Ron Gingerich also saw an opportunity to expand operations into analysis research and created Linco Diagnostics Services. Linco Research develops and manufactures reagents for diabetes, cardiac and obesity research conducted worldwide.

Linco Diagnostic moved into a 52,000 square foot laboratory building at the park near Linco Research in August. The company added 25 employees.

Linco has been a tenant since 1993.

The commitment by the University of Missouri to foster research and development influenced the decision to expand the business within the Missouri Research Park, Gingerich said.

“This is a park of like-minded businesses, and it offers lots of green space, lots of security for our employees and the availability of space for growth,” Gingerich said.

Endocyte to Anchor Expanded Facility

There is also ongoing growth at the Purdue Research Park at the University of Purdue in West Lafayette, Ind.

During the past two years, the Purdue Research Park has launched 23 technology startup companies. More than 100 companies are located in the park, employing more than 2,500 workers.

Construction has begun on a 60,000 square foot expansion of the Purdue Technology Center, the park’s flagship business incubator facility.

The expansion will double the size of the facility.

The Purdue Technology Center is the largest building in a complex consisting of three incubators and two graduation facilities, the latter offering lease options to startup companies once they’ve outgrown their incubator space.

“Expanding this incubator validates our economic development efforts and prepares the way for company growth and job creation in the high-tech sector,” said Joseph Hornett, senior vice president and treasurer of the Purdue Research Foundation.

The anchor tenant of the expanded facility will be Endocyte Inc., a life sciences venture developing Purdue University-licensed cancer detection and treatment technologies. Endocyte attracted $15 million in venture capital last year.

“The scientists at Endocyte need more room to work as they develop ways to deliver drugs directly into cancer cells,” said Greg Deason, director of park development for the Purdue Research Foundation. “Now, rather than spending the capital it secured last year on expensive facilities, it can spend it on research and FDA-regulated human clinical trials.”

Endocyte will occupy about 15,000 square feet of space, which will be equipped with state-of-the-art wet labs and offices.

In addition, the company will have access to all of the park’s incubator amenities, including business consulting, human resources, marketing and public relations.

Ken Krizner is managing editor of Expansion Management. He can be reached at kkrizner@penton.com.