Frequently Asked Questions

1. How do companies/organizations become tenants of Smartpark Research & Technology Park?

Prospective clients must have a research and/or technology product development component to their business and be involved in one of the following four broad research areas that coincide with research expertise at the University:

  • Information and Communications Technology
  • Engineering and Advanced Materials
  • Health and Biotechnology
  • Agricultural and Nutritional Sciences

Clients may decide to lease space within one of Smartpark Research & Technology Park’s multi-tenant facilities or to land lease a parcel and develop their own facility. Multi-tenant buildings offer office/lab space where the building entrance and common areas are shared by tenants. Smartpark Research & Technology Park’s current multi-tenant facilities are located at 135 Innovation Drive and 150 Innovation Drive, and One Research Road.

Contact us at (204) 474-7975 to discuss the best lease package for your organization.

2. Why are companies coming to Smartpark Research & Technology Park?

This is what some of the CEO’s from our tenant organizations had to say about the reasons they chose Smartpark Research & Technology Park:

  • “For its image, location, closeness to the University, and interaction with other tenants”
  • “Nice offices for our visitors to see and our employees are happy to work here”
  • “The relationship with the University and our key sponsors that are here”
  • “It’s a good place to have a technology-based enterprise”
  • “It’s a high profile location – everyone knows where Smartpark is”

3. How has Smartpark Research & Technology Park benefitted the community?

Success of Smartpark Research & Technology Park means success for the University, the City and the Province. The park is home to 30 growing organizations in high-tech sectors. Smartpark Research & Technology Park’s high-tech focus will ultimately contribute to an environment and culture that encourages entrepreneurs and University graduates across many disciplines to stay in Winnipeg and in Manitoba, each in turn contributing to further investment and development.

4. How does Smartpark Research & Technology Park compare to other university-affiliated research parks?

Research parks in Canada and the U.S. represent over 47,000 acres of land, with over 3,000 tenants employing more than 300,000 people. Most research parks are operated by a university or a university-affiliated non-profit. Tenants are primarily private-sector companies; but, parks also include university and government facilities. University research parks provide a range of business services to their client companies, many through incubators. The typical research park is located in a suburban community with a population of less than 500,000 situated on 114 acres of land with 6 buildings comprising 314,400 square feet employing 750 workers. (Source: Association of University Research Parks http://www.aurp.net/). After 10 years Smartpark Research & Technology Park is home to 30 clients employing 1000 people working in 9 buildings across the park.

5. What are the risks for Smartpark Research & Technology Park?

Smartpark is exposed to risks common to all research parks in this field. These risks include:

  • the risk of tenant default on lease payments,
  • the risk of debt re-financing on maturity at higher rates, and
  • the risk of carrying vacant space if tenants do not renew leases on expiry.

Smartpark attempts to mitigate these risks by:

  • undertaking financial due diligence checks of tenants as a condition of leasing,
  • by matching lease duration with debt maturity, and
  • by maintaining an active network of prospective tenants.

One of the ways in which research parks meet or mitigate business risk is by diversifying their portfolio across tenant sectors and geographic regions. Smartpark is restricted to leasing only in specific research and technology sectors that may from time to time experience economic volatility and has a natural geographic limitation and scope that does not permit diversification into other economic regions.