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Boca Raton News


Date ArticleType
3/8/2023 General
Research Park at Florida Atlantic University®

Research Park at Florida Atlantic University® Publishes Annual Report, Strategic Plan

Job Growth Remained Strong in 2022, forecast to continue

BOCA RATON, Fla. (March 8, 2023) - One hundred nineteen (119) net new jobs were created by companies located in the Research Park at Florida Atlantic University® in 2022, meaning nine hundred eighty-six (986) overall jobs were supported in the Park, an increase of twelve percent (12%) over the previous year.

Employers in the commercialization and innovation center with campuses in Boca Raton and Deerfield Beach range from the aerospace to the healthcare industries, all working with Florida Atlantic University’s (“FAU”) faculty and student body in various ways; more than half of the companies employ FAU interns and alumni.

Fully half of the Research Park’s companies are in the healthcare industry, while thirty-five percent (35%) of its second-stage incubator, Global Ventures, companies are in the space, from medical devices to artificial intelligence and medical therapeutics. This includes eight new arrivals in the incubator and Research Park. The concentration aligns with FAU’s expertise and focus, having created the FAU Health Network and securing a $26 million smart cities engineering research grant in 2022.

“As FAU’s research enterprise grows and its researchers’ impressive results filter through the business community, so too does the level of interest we see in companies locating in the Research Park at FAU,” stated Andrew Duffell, president of the Research Park at FAU. “2022 was a strong collaboration year, and we are forecasting increasingly strong relationships between the university and our businesses going forward.”

These results and FAU’s focus on increasing access to healthcare and solving societal challenges using sensors and artificial intelligence, contributed to the development of the recently approved strategy which calls for assisting Florida Atlantic University to achieve the coveted R1 status of the highest performing research centers in the United States.

The Park plans to increase the quality of its second-stage incubator graduates and Park recruits by engaging more deeply with the resources at the university and providing access to business intelligence as well as raising awareness about the companies’ successes. By targeting healthcare and smart systems industries, aligned with the expertise at FAU, the Research Park expects that companies in the healthcare and smart systems industries will be attracted to it by the prospect of collaborating on research projects with industry-leading experts as well as access to a motivated, highly trained student body and workforce.
The Research Park at FAU is devoted to diversifying the region’s economy through the creation and commercialization of new technologies, companies and knowledge which create sustainable jobs over the long term. The 2022 Report to the Community is available here.

About the Research Park at Florida Atlantic University®
The Research Park at Florida Atlantic University® is home to technology companies and research-based organizations working to support the research and development activities of Florida Atlantic University and to foster economic development and broaden the economic base of Broward and Palm Beach counties. The Research Park at FAU hosts Global Ventures, an international soft-landing center for second-stage technology companies and FAU Tech Runway, a South Florida public-private partnership that serves as a hub to accelerate technology development and incubate startup companies. The Research Park at FAU is a 70-acre destination for R&D companies to thrive, established in 1985, it is widely regarded as South Florida’s laboratory for new entrepreneurial ideas and technologies. The Research Park at FAU is governed by the Florida Atlantic Research and Development Authority, an independent special district created by Palm Beach and Broward counties in partnership with Florida Atlantic University, organized under Chapter 159, Part V, Florida Statues. (www.research-park.org)

MEDIA CONTACT: Andrew Duffell
[email protected]
561) 416-6092 Ext. 1402