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Mayo adds tenants at business accelerator

Since opening in March, the Mayo Clinic Business Accelerator has filled its offices with 16 tenants, including medical startups and venture capitalists.

The Mayo Clinic Business Accelerator, a 20,000-square-foot space that opened in March at the Minnesota BioBusiness Center in Rochester, has filled its offices with 16 tenants, launched a resource website, and plans to host events and discussion groups led by business leaders, Mayo Clinic said this week.

Office tenants at the business accelerator, who rent on a month-to-month basis, include medical startups, venture capitalists, and MBA students who work with the startups.

The accelerator, an initiative created by Mayo Clinic and Rochester area business development officials, was designed to stimulate the growth of local, health care-related businesses.

“The accelerator is an example of the strength of a strong partnership between Mayo Clinic and the community to make it easier and more affordable for companies to start and locate in Rochester,” Mayo President and CEO John Noseworthy said in a statement.

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The accelerator now hosts everything from med-tech giants like Natick, Massachusetts-based Boston Scientific to Menlo Park, California-based Icon Venture Partners, an early-stage venture capital firm that supports enterprise technology companies. Other tenants include Alameda, California-based Clear Vision Consulting, a consultancy to the medical device, biologics, and pharmaceutical industries, and Rochester-based Imanis Life Sciences, an organization working to advance regenerative medicine, cancer therapy, and biomedical science.

“We are not only extremely pleased with the number of businesses leasing space in the accelerator, but we are equally pleased with the quality of people, which is a mix of talented entrepreneurs, experienced business people, and venture capital firms,” Rochester Area Economic Development, Inc., President Gary Smith said in a statement.

The accelerator also launched a website, offering online resources to people who are interested in forming new businesses. The site includes tips on writing a business plan as well as providing the basics in forming a company. Additionally, the website includes information about leasing space, sponsors, business advisors, and service suppliers.

Accelerator officials plan to open the space to the public for free events and discussions, including upcoming presentations from a venture capital firm on seed investment programs and a law firm on starting a business. Interested individuals can register for the events on the accelerator’s website.

“Our goal with the Mayo Clinic Business Accelerator is to bring together like-minded entrepreneurs, investors, and advisers to share ideas, resources, and expertise, and by doing so we hope to build a unique ecosystem and support the spirit of entrepreneurism in Rochester,” Jim Rogers, chairman of Mayo Clinic Ventures, a facilitator between new medical technologies and the marketplace, said in a statement.

Twin Cities BusinessMeanwhile, Mayo Clinic recently announced changes to its executive leadership. Earlier this month, the Rochester-based health and medical care organization appointed Jeff Bolton as chief administrative officer (CAO); he served as Mayo’s chief financial officer for 11 years and replaced longtime CAO Shirley Weo.

Mayo Clinic is the largest cardiac care center in Minnesota based on its number of procedures, and is among thefive largest employers in the state.

This article is reprinted in partnership with Twin Cities Business.