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February 27, 2013

A window on Mayo Clinic's business accelerator plans

It is getting close to the big reveal of the Mayo Clinic Business Accelerator in the City of Rochester's Minnesota BioBusiness Center.

02272013mayoaccelerator1The plan, as I understand it, is to announce the new tenants - possibly eight - in the 2,500-square-foot center at RAEDI's annual meeting on Thursday. Remember this new twist on a business incubator is designed to house early biotech start-ups as well as venture capitalists. The tenant names have been kept hidden from anyone outside of Mayo Clinic and the usual insider crowd of public figures.

And yet this morning, a couple of venture capitalist firms' names are as clear as glass as being part of this private/public project.

Sanderling Ventures and Versant Ventures are up on the window, along with Mayo Clinic Ventures, the City of Rochester and RAEDI.

The California-based firm has a lot of experience working with Mayo Clinic and Mayo-related companies, like Torax and Naviscan.

02272013mayoaccelerator2I don't know as much as about Versant Ventures, but it is also based in California. However, it also has an office in Minneapolis.

Here's some background on the accelerator:

Mayo Clinic is giving $100,000 to turn the unused space, which is owned by the city, into offices. RAEDI will handle the management and leasing of the space.

HGA, which was the architect firm for the building, handled designs for this space. Lots of glass walls, I hear. Rents are expected to range from $13 to $15 per square foot.


As it is understood, about $100,000 of the sales tax funding approved last year is also part of the build out funding in addition to Mayo Clinic's investment of $100,000+. It is great to startup spaces like this and Cube becoming part of Rochester's landscape.

How come items posted to Kiger's Notebook By Jeff Kiger are posted by Jay Furst?

Good question, Bob. Furst is the name on the Post-Bulletin's TypePad account, so it always comes up like that. Never been able to figure out how to change that.

However, I (Kiger) am the only one who posts to Kiger's Notebook.

So, what is up with the Crossroads BBW dealeo Mr. Kiger?

I'm checking on BWW2. I believe everything is on hold while waiting for latest legal decision to issued.

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