Mayo Clinic Accelerator Thriving in First Five Months

Posted at: 08/19/2013 6:21 PM
By: Brianna Long

(ABC 6 NEWS) -- It's a push to start new businesses in Rochester, and now the Mayo Clinic Business Accelerator is looking toward the future.
The accelerator started five months ago, and it's already reached capacity with 16 tenants.
"This provides that opportunity for people to get together and hopefully learn from each other," said James Rogers, with Mayo Clinic Ventures.
It started as an initiative to help start-up businesses, and now Mayo Clinic's Business Accelerator Program is doing some accelerating of it's own.
"We're very excited with the momentum. Momentum has been going great in the right direction," said Rogers.
Since it opened five months ago, 16 tenants have moved in to the accelerator. Some of them are start-up companies with Mayo ties.
"A number of those businesses that are in there are started by Mayo physicians," said Gary Smith, with RAEDI.
Others are venture capital firms.
"We expect Mayo and those firms to be working together and forming some companies together," said Smith.
With the businesses moving in so quickly, it will not only benefit the businesses themselves, and Mayo, but according to economic development leaders, it will also benefit the entire city of Rochester.
"The community's going to benefit from the economic activity, the sales, the growth, the employment, all those sorts of things," said Smith.
"From our perspective, we like to see a diverse economy here. A thriving economy here in Rochester," added Rogers.
With the way things are going, the hope is that they will only get better from here on out.
"We're real excited about where we are today, where we came from, but more importantly where we're gonna go in the future," said Smith.
Moving forward, Accelerator officials are hoping to bring in some classes from the outside; bringing in companies that had been formed elsewhere to spend time in the accelerator, and help out the start-ups here locally.