INDIANAPOLIS (Inside INdiana Business) — A new, 100,000-square-foot innovation hub is coming to the $500 million 16 Tech Innovation District in Indianapolis. 16 Tech Community Corp. is partnering with Philadelphia-based incubation network 1776 to develop the project, which is an adaptive reuse of the former Indianapolis Water Co. headquarters.
The 16 Tech Innovation Hub will feature more than 50,000 square feet of flexible office, incubator and meeting space, which will be managed by 1776. It will also include a 15,000-square-foot makerspace and a 40,000-square-foot artisan marketplace, which will feature food options and event space.
16 Tech says the hub will be suitable for innovators and entrepreneurs from all fields, including life sciences, technology, advanced manufacturing and food and lifestyle, among others.
“The Indianapolis region has a thriving tech community and is home to global life sciences and advanced manufacturing corporations and the nation’s leading medical school. The 16 Tech Innovation District is where all of these regional assets will converge,” Bob Coy, chief executive officer of 16 Tech Community Corp., said in a news release. “1776 recognized our region as an emerging center for innovation and an ideal location to establish its first Midwest partnership.”
The developers are currently seeking collaborations with central Indiana corporations, institutions, venture capital firms and organizations. The partnership aims to provide “more entrepreneurial energy and economic development” across the region.
“1776 is thrilled to partner with 16 Tech. Collaborative relationships are vital to our mission to transform markets and curate diverse communities that foster creative and innovative solutions to the world’s most complex challenges,” said Jennifer Maher, CEO of 1776. “Indianapolis creators and innovators will have full access to 1776’s work and meeting spaces, growth-focused services, mentor network, programming and online resources.”
Work on the 16 Tech Innovation Hub is underway. The hub is slated to open in early 2021.