The University of Arizona Center for Innovation had an economic output of $664.8 million between 2021 and 2023, according to an analysis completed by Rounds Consulting Group, an independent public policy and economics advising firm.

Part of Tech Parks Arizona in the Office of Research, Innovation & Impact, the University of Arizona Center for Innovation, or UACI, is Arizona's leading business incubator network, helping science and technology startups in Southern Arizona and beyond to bring their ideas to market and scale operations globally.

"Supporting the growth of new businesses is a cornerstone of Southern Arizona's economic development strategy," said Carol Stewart, vice president of Tech Parks Arizona. "By empowering startups, we create a ripple effect of economic growth that extends across the region. UACI's strategic, results-driven approach is already delivering measurable success, strengthening our economy for the future."

The $664.8 million in economic output includes direct and indirect impacts of the operations of multiple incubator outposts – including locations in Oro Valley, Sahuarita, Sierra Vista and at Biosphere 2 – as well as the contributions of entrepreneurs participating in the UACI program. The direct impacts of the startup activities create additional indirect impact as the businesses purchase services and products from local suppliers, hire talent and spend money in the community.

"UACI is a powerful driver of economic growth in Southern Arizona, providing startups with resources, mentorship and infrastructure they need to thrive," said Casey Carrillo, executive director of UACI. "By fostering innovation and supporting entrepreneurs, we are not only launching successful companies but also creating high-quality jobs and attracting investment that strengthens our regional economy." 

According to the report, startups that have gone through the UACI program contributed $19.1 million in state and local taxes from 2021 to 2023 and contributed a total of 886 jobs. 

During this time period, 41% of UACI startups involved U of A alumni, graduate students or technology that originated from university research. 

"The University of Arizona has built a dynamic innovation ecosystem where pioneering research, entrepreneurship and economic growth converge," said Tomás Díaz de la Rubia, U of A senior vice president for research and innovation. "Through Tech Launch Arizona, we translate U of A-born discoveries into technologies that drive new ventures, and with the University of Arizona Center for Innovation, we provide founders the mentorship and infrastructure to launch and scale their businesses. By fostering a seamless pathway from idea to impact, we are strengthening Arizona's economy, generating jobs and ensuring that university-driven innovations make a difference in the world."

Between 2021 and 2023, UACI worked with startups in a variety of industries: 39% in health care, biology and life sciences; 24% in climate technology; 17% in hardware and engineering; 16% in software, artificial intelligence and mobile application development; and 4% in imaging.

The economic report also examined the lifetime impact of UACI, which has supported more than 1,500 entrepreneurs through workshops, educational training and assistance with business pitch preparation. With support from UACI programs and resources, more than 300 startups have accumulated $180.6 million in capital investment funding.