In the heart of Southern Arizona, something exciting is happening—something that’s transforming the local economy. It’s all centered around the University of Arizona Center for Innovation (UACI), where early-stage startups are being nurtured and guided toward success.
Between 2021 and 2023, UACI generated $664.8 million in economic impact, a number that reflects not only the direct success of the startups it supports but also the broader effects of their operations. As these companies grow, they purchase local goods, hire talent, and invest in the community, creating a foundation for long-term, sustainable growth. “Supporting new businesses is a cornerstone of Southern Arizona’s economic strategy,” says Carol Stewart, vice president of Tech Parks Arizona. “By nurturing startups, we create a ripple effect that spreads economic growth throughout the region.”
But the story of UACI isn’t just about money. It’s about transformation—how new ideas, nurtured by mentorship and resources, are turned into thriving businesses that contribute to the region’s growth. Under the leadership of Casey Carrillo, UACI has become a powerful engine for innovation. “We offer the resources, mentorship, and infrastructure that startups need to succeed,” Carrillo explains. “By supporting entrepreneurs, we’re not just launching companies—we’re creating high-quality jobs and attracting investment that strengthens our economy.”
The impact is undeniable. UACI startups contributed $19.1 million in state and local taxes between 2021 and 2023 and created 886 jobs. To date, more than 300 startups have passed through its programs, collectively securing $180.6 million in capital investment. Nearly 41% of these startups have ties to the University of Arizona, drawing from its research, alumni, and graduate talent to fuel their growth.
The range of industries supported by UACI is equally impressive. From healthcare and life sciences to climate tech and AI, UACI has been instrumental in helping startups scale across a wide range of fields. For example, 39% of the startups in the 2021-2023 period focused on healthcare or life sciences, while 24% were in climate tech. One standout example is Dimensional Energy, a company working to turn CO2 into sustainable fuels. After joining UACI in 2022, Dimensional Energy expanded rapidly, opening a Technology Center and pilot plant at UA Tech Park. Their innovative carbon utilization project is now advancing at the Solar Zone, a space dedicated to sustainable technologies. In 2023, Dimensional Energy secured $20 million in Series A funding to scale its technology for sustainable aviation fuel. “UACI’s support has been crucial to our success,” says Angelina Farrar, Tucson Operations Manager for Dimensional Energy. “The resources and network available through UACI and UA Tech Park have allowed us to grow and build a team that’s working toward a more sustainable future.”
The UACI incubator lies at the heart of the UA Tech Park. The collaboration between UACI and Tech Parks Arizona ensures that startups are not only positioned for success but are also driving economic growth and innovation across the region. As a cornerstone of Tech Parks Arizona, UACI plays a crucial role in nurturing the next generation of high-tech businesses, driving job creation, attracting investment, and supporting the long-term economic vitality of Southern Arizona.
It’s clear that UACI is not just helping businesses launch—it’s positioning Southern Arizona as a hub for innovation and economic opportunity. By providing mentorship, funding, and resources, UACI is creating jobs, attracting investment, and driving technological advancement across industries.
