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.
A 70-acre destination for R&D companies to thrive, the Research Park at FAU hosts FAU TechRunway, a South Florida public-private partnership that serves as a hub to accelerate technology development and incubate startup companies.
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 Florida Atlantic University in partnership with Palm Beach and Broward counties, organized under Chapter 159, Part V, Florida Statutes.
The Board of County Commissioners of Palm Beach and Broward counties each appoint three members to the Authority and the president of Florida Atlantic University, or the president’s designee, is a member and serves ex officio, as established by Florida Statutes and county ordinances.
What is a research park?
According to Florida Statute 159.27(2) research and development park is:
… a center of research and development activity related to the research and development activities of one or more affiliated institutions of higher education, including scientifically oriented production or educational programs of postsecondary educational institutions, consisting of research and development facilities; scientifically oriented production or assembly facilities; research institutes; prototype, scientific, and product testing laboratories; related business and government installations; or similar related facilities, together with land, including all necessary appurtenances, rights, and franchises directly relating thereto, with related buildings, facilities, and personal properties, but only to the extent that such facilities are engaged in research and development, are necessary to encourage or complement the purposes of a research and development park, or are in support of any facilities or improvements located or constructed at such a center or activities or operations conducted at such a center for purposes authorized by this subsection. For purposes of this subsection, the administering or taking of professional or occupational licensing examinations shall not constitute testing, nor shall any room, building, or facility in which such examinations are administered or taken constitute a testing laboratory.
The Association of University Research Parks (AURP) defines a university research park as a property-based venture, which:
- Master plans property designed for research and commercialization
- Creates partnerships with universities and research institutions
- Encourages the growth of new companies
- Translates technology
- Drives technology-led economic development