After a soft opening of its Incubator for Innovation and Impact on April 3, Concordia University Texas, 11400 Concordia University Drive, Austin, will host a grand opening event and open house May 18 from 7-9 p.m.

Concordia President and CEO Donald Christian announced in November the development of the membership-based business accelerator that functions as a co-working space with access to academic resources, databases and business libraries as well as a partnership with networking company Tech Ranch Austin.

Tech Ranch will host events, including networking workshops and educational programs about business and marketing, for members of the incubator, Concordia spokesperson Lisa Kessler said.

The incubator also provides entrepreneurs the ability to connect with Concordia professors for research and with current students, she said.

“Having access to students who are interested in working and learning about a business is a benefit for both parties,” Kessler said. “It’s a great resume- and relationship-builder for students and connects businesses [with potential employees].”

Members pay a $25 registration fee when they sign up and a monthly membership fee. The standard rate is $350 a month with a rate of $300 a month for students, alumnus, military veterans and seniors, she said.

Those interested in becoming members can sign up online at www.incubatorctx.com.