UNeTech: New Institute Ready to Help Start-Ups Succeed

The University of Nebraska Medical Center and the University of Nebraska at Omaha are partnering on a new institute designed to identify promising start-up companies and help them become successful. The institute – called UNeTech – is located at 3929 Harney St. in a building formerly occupied by the American Red Cross.

Rod Markin, M.D., Ph.D., is serving as executive director of UNeTech. Holding 35 patents, Dr. Markin is one of the most prolific inventors at UNMC and has been on the faculty for 30 years. Joe Runge, who has been with UNeMed for the past 11 years, is serving as associate director. Scott Snyder, Ph.D. is serving as the lead administrator for UNO, assisted by Nick Stergiou, Ph.D.

Dr. Markin said UNeTech’s mission will be to bridge the gap after UNeMed identifies promising technology and intellectual property and provide the support to allow these fledgling companies to become successful. “It’s called the ‘Valley of Death,’” Dr. Markin said. “It’s the most difficult hurdle for new businesses to clear – 50 percent of start-up companies fail in the first three years.”

UNeTech hopes to make it easier for start-up companies to succeed by providing affordable space in its three-level, 5,000-sq.-ft. building. The top two levels will provide conventional office space, while the unfinished basement will serve as a laboratory/workshop area. Over time, the building could accommodate as many as 10-12 start-up companies.

UNeTech was approved by the University of Nebraska Board of Regents in 2015, and the Nebraska Legislature will allocate $1 million each year to cover UNeTech’s operating expenses. UNeTech will seek to raise between $7 million to $10 million in funding from individuals and outside agencies to invest in the potential technology and start-up companies.