The University of Iowa will seek permission from the Board of Regents to convert the former UI Art Building to an innovation center, reports the Corridor Business Journal. The building, where American folk artist Grant Wood worked out of, opened in 1936 as an arts colony. “By bringing together inventors, creators and leaders from a variety of backgrounds and skills, we will significantly enhance the university’s ability to support the next generation of innovators and entrepreneurs,” David Hensley, executive director of the UI John Pappajohn Entrepreneurial Center, said.