Miromatrix, the University of Minnesota spinoff that holds promise of being able to build human organs and tissue (see the May story), has received a $250,000 loan from the Minnesota State Agricultural and Economic Development Board. With the loan, the board, which typically lends to manufacturers, signals its intention to support emerging high-tech and biotech businesses as well.
A new Minnesota Commercial Real Estate Survey from the University of St. Thomas shows optimism about the next two years. The 50 developers, investors, and financiers surveyed expect occupancy and rental rates to move up, while investors’ rate of return requirements and lenders’ equity requirements drop. Tempering this: Land and construction costs will also rise.
Rochester is one of the “10 Best Cities for the Next Decade,” according to Kiplinger’s Personal Finance, which sought U.S. cities where collaboration between governments, universities, and businesses “supercharges a city’s economic engine.” Kiplinger’s cited the growing partnership between the Mayo Clinic and the University of Minnesota as one reason for putting Rochester on the list. That partnership expands now to include the Karolinska Institute of Stockholm, Sweden, one of Europe’s leading medical research universities. The U of M–Mayo collaboration, known as the Minnesota Partnership for Biotechnology and Medical Genomics, has signed a research pact with the Karolinska Institute that emphasizes work on regenerative medicine, genomics, and immunity.
The newest beer start-up in the twin towns? 612 Brew, which is so new that owner-brewer Robert Kasak is out shopping for brewing equipment and a building to put it in. He considered contracting with another brewer, but says his beers were developed with Minneapolis city water and “we know our consistency is good in Minneapolis.” Estimated time to market: two to six months.