Established in 1989, The University of Iowa Research Park (formerly Oakdale Research Park) leases building sites and space to growing technology companies that require sustained research relationships with the UI. The UI business incubation program includes services and facilities that support new business ventures that use advanced technology. For life science companies, the new BioVentures Center facility provides wet lab and office space for life science companies. Corporate tenants located there also have access to shared space including a multi-purpose room, board room, shared equipment room, break room and conference rooms, as well as access to an array of amenities and services. The Technology Innovation Center provides office space and a nurturing business environment for new technology-based ventures that do not require wet laboratories.