Affiliate Status is not expected to be a long-term relationship with EnterpriseWorks. We will not market company affiliation as Research Park or EnterpriseWorks tenancy. Affiliate status is granted for one year at a time and should not be renewed for more than three years total. It is fair to say that different types of companies require different lengths of development time to achieve financial sustainability depending upon the technology involved.
As a general rule of thumb, a company should no longer be an Affiliate if one or more of the following conditions exists:
Identifying the appropriate time for startup companies to graduate from EnterpriseWorks is handled on a case-by-case basis with each tenant. It is fair to say that different types of companies require different lengths of development time to achieve financial sustainability depending upon the technology involved. As a general rule of thumb, it will be time for a company to graduate when one or more the following conditions has been reached: The company is not actively using its rented space at EW. The company has no continuing need for incubator services. The company has sufficient capitalization to afford space on its own outside EW.
For and in consideration of receiving consultation services from EnterpriseWorks, I consent to and hereby discharge, release, and hold harmless the Board of Trustees of the University of Illinois and the Board of Managers of the University of Illinois Research Park LLC, sponsors and their affiliates, agents, volunteers, servants, employees, successors and distributors and waives, releases and relinquishes any and all claims for liability and causes of action, including for personal injury, property damage, wrongful death, errors, and omissions arising out of consultation services from EnterpriseWorks, and/or any activities incidental thereto, whenever or however they occur and for such period said activities may continue, and by this agreement any such claims, rights and causes of action that the Client may have are hereby waived, released and relinquished. As the Client, I have read the Liability Release and understand that I have freely given up rights by agreeing to these terms without any inducement or assurance of any nature and intend to be a complete and unconditional release of all liability to the greatest extent allowed by law.