FAYETTEVILLE, Ark. - The Arkansas Capital Corporation Group and the University of Arkansas GENESIS Technology Incubator have formed a partnership that is expected to enhance business opportunities within the state and foster the growth of companies through faculty and private research, said Bob Friedman, director for GENESIS, along with Sam Walls, executive vice president for ACCG.

"By having the Arkansas Capital Corporation Group here at GENESIS we foresee great benefits to the state in terms of technology based businesses prospering within Arkansas’ borders," Friedman said. "One of the barriers to business development is venture capital. This move will not only attract new clients to GENESIS because of broader funding opportunities, but it will enhance the opportunity for research at the University. This will result in benefits to commerce, industry, education, and ultimately to the citizens of Arkansas."

Arkansas Capital Corporation Group is a family of economic development finance and equity companies that provides financial and technical assistance to start-up and expanding businesses, which translates into new jobs for Arkansans. In the same vein, the GENESIS Technology Incubator was established at the University of Arkansas College of Engineering in 1986 to diversify Arkansas' technology and economic base and to help create employment opportunities for Arkansans skilled in the science and engineering professions.

"ACCG aggressively seeks to leverage its resources through strategic alliances, which collectively build an environment for entrepreneurial and business development," Walls said. "It is with strategic alliances in mind that we announce the relocation of our Northwest Arkansas office to the GENESIS Technology Incubator at the University of Arkansas. Our focus is to partner with Arkansas’ universities and its statewide business community in a collaborative effort to maximize The Natural State’s growth potential."

The relocation is expected to accomplish several objectives for ACCG:

• Continue providing an exceptional level of service to our existing and future clients. The new Fayetteville office will continue to serve as ACCG’s principal contact point for the 14 county region of Northwest Arkansas.
• ACCG’s new location will enhance its availability to GENESIS tenants. It is expected to become an increasingly useful resource to GENESIS tenants by offering them access to business development expertise, mentors and capital.
• To establish a new venture capital fund - Arkansas Ventures Fund - directed toward seed and startup ventures.
• Through Capital Resource Corporation, ACCG’s 501 (c) 3 non-profit affiliate, ACCG will actively engage in aiding the commercialization of research accomplished at Arkansas’ various universities and also by the general public.

Objectives for GENESIS:

• Provide the next level of support in the form of opportunities for funding for its client base. Clients will be attracted to GENESIS from within Arkansas and other states because of the opportunity for funding their enterprises.
• Expand the client base to the state, specifically to grow the Northwest Arkansas Research and Technology Park.
• Foster increased research within and outside the University of Arkansas. This will serve as a valuable component as the University of Arkansas continues its development as an economic engine for the state and as a nationally competitive research university.

Currently, one new job is created every five days in Arkansas by companies that have a

direct GENESIS connection.