Texas Tech University

Innovation Hub Releases Annual Report and Launches New Website

Kay Boren

February 19, 2019

Innovation Hub

In 2018, the Hub expanded the region’s innovation and commercialization pipeline to economic development in several key ways.

Lubbock, West Texas and Texas Tech University strongly support the culture of innovation and entrepreneurship driving our economy. The significant impact from that support is highlighted in the 2018 Annual Report for the Texas Tech Innovation Hub at Research Park.

The Hub is a place and a dynamic community where smart ideas that create value are nurtured and grown. The Hub assists in the formation of technology and all startup companies critically relevant to the local and regional economy. Startups create more than 80 percent of net new jobs, new industries and new solutions. The Hub helps foster and launch innovation through education, research, partnerships, mentorship and collaboration. The annual report underscores how the Hub's people, programs and state-of-the-art facility empower individuals throughout West Texas and the Texas Tech University System who are interested in launching successful new business ventures.

In 2018, the Hub expanded the region's innovation and commercialization pipeline to economic development in several key ways:

  • The Hub hosted 305 events and 15,333 innovators and entrepreneurs in 2017-2018.
  • It received a total of $1.26 million in grants in support of ideas, inventions and high-impact team building.
  • Texas Tech startup companies received an additional $3.5 million in federal and internal grants.
  • Twelve technology venture startup companies were launched.
  • Nineteen companies call the Hub home.
  • Forty-six trained volunteer mentors supported innovation and entrepreneurship, donating 4,098 hours of industry expertise.

Details on all the opportunities and resources the Hub provides are posted on its new website (www.innovationhub.ttu.edu). The Hub offers 12 programs throughout the year that support three distinct areas to further develop science and ideas, form high-impact technology teams and launch successful startup companies. The programs fall into one of three categories: ideation, commercialization and acceleration.

Application, registration and/or signup information can be found on the website. The website also features a full calendar of free public events and offers more information on the Hub's facility, partners, tenants and mentors.

For more information, email innovationhub@ttu.edu.