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College and Greater Peoria Economic Development Council announced that they will be joining together to develop a Peoria Innovation Hub that is set to be located in the Thomas Building at 201 SW Adams St.
This hub has recently been announced as an effort to help find solutions for underprivileged communities to improve their wellness and lifestyle choices, food, farming and transportation.
The Peoria facility, announced Thursday by OSF HealthCare and Illinois Central College and the Greater Peoria Economic Development Council, is set to open in 2020 with the focus of improving the wellness of the poor, rural, and elderly individuals. With an emphasis on food, farming and transportation, this hub will tackle these widespread issues.
This Peoria Innovation Hub is part of the Illinois Innovation Network (IIN) to help grow interest in research and entrepreneurship for economic growth. The IIN is a common platform visited by many startups, enterprises, community leaders, research and academic institutions, and many more. This platform allows individuals and organizations to network and share ideas to help grow their businesses. This Innovation Network aims to:
Since this new health innovation pub is part of the IIN, it will have access to all the services that it provides. Innovation is key to help society progress towards a better future. By bringing together like-minded individuals in one space, The Illinois Innovation Network will contribute to this betterment for people in Peoria and those all around the world.
As mentioned by the president of the U of I System, Tim Killeen, “In today’s world, innovation is the key to progress, prosperity and an even better tomorrow… The Illinois Innovation Network reflects our commitment to bring the world’s very best minds together and put them to work for people here in Peoria, across our state and beyond.”
This proposal has been prepared to secure funding to develop Discovery Partners Institute and the statewide innovative network. This health innovation pub will open pathways for entrepreneurs, innovators and students by providing them with beneficial opportunities.
This hub will be nearly 53,000 square feet and function as a place to bring new companies and members of the community together to create solutions in the health care, manufacturing, and agriculture fields.
The Peoria Innovation Hub will provide tax benefits to startups to help them attract early stage venture capital. This will help them increase their business potential and focus on leveraging incentives.
OSF Healthcare CEO Robert Sehring said, “OSF HealthCare recognizes the importance of innovation in improving the health of the communities we serve. It is our hope that working with the Discovery Partners Institute and the Illinois Innovation Network will only help improve the health of and health care options for all Illinoisans”
OSF Healthcare has a mission to provide urgent care with the appropriate services for their needs. As stated by Michelle Conger, the chief strategy officer for OSF Healthcare, “OSF HealthCare is committed to doing its part to help design a better future… Core to our mission, we understand the value of fresh perspectives and seek to work with innovators outside our walls to maximize solutions that bring value to our patients and communities.”
To help maximize productivity and collaboration across all disciplines, there are several elements that will be emphasized by the hub. Some of these elements include the following:
Discovery Partners Institute (DPI), is the cornerstone of the network that brings top researchers to Chicago to tackle world issues and challenges. DPI is a research and education center; OSF Healthcare became its first corporate partner to address key issues that surround the poor, rural, and elderly individuals in Illinois.
Other hubs, such as ones in Chicago, Springfield, Champaign, and DeKalb have already been announced; they will focus on discovery and growth in growing fields. These fields include: data science, therapeutic drugs, environmental changes, cybersecurity, environmental changes, and many more.
If these funds are approved, they will go towards innovating the Peoria Innovation Hub by late 2020, as well as help re-energize and redevelop the Thomas Building.