KNOXVILLE, Tenn. (WATE) — A new “scientific innovation center” is coming to downtown.
Venture firm Cocoon Resources Inc. has struck a deal to buy the TVA Employees Credit Union Headquarters at the corner of Gay Street and Wall Avenue. The building will be converted into a lab and investment center with exhibits that aim to bring the community in on the innovation.
The business incubator will help build for-profit companies in the sciences.
“The new technologies that are going to be coming out of here are gonig to help Knoxville be more established in biotec/STEM areas as a commercializer,” CEO and President of Cocoon Resources Inc. Katherine Bazemore said.
Volatile Analystis Corporation and Breath Keys will have labs in the building.
Cocoon Resources Inc. says the first projects they’re hoping to work on will include combating COVID-19. They expect the purchase of the building to be complete within three months.