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G~ <br />Elk River Business Incubator Program <br />History & Partnerships <br />History <br />• Started 1997 <br />• EDA leased 13,186-SF (6 suites) of former Fuxnimre & Things building, located on East Hwy 10 <br />EDA has accepted a total of 9 companies into the program, including: <br />(Dates listed axe when companies entered the program) <br />• Solar Attic - March 1997 <br />• ProtectoxCare, Inc. - Feb. 1998 <br />• Watermark Submersibles, Inc. -March 1998 <br />• Mt1S Technologies - May 1998 <br />• Cymbet (formerly Integrated Power Solutions) - Aug. 2000 (Graduate) <br />• Vertical Publishing - July 2000 <br />• Bixby Energy Systems, Inc. -January 2002 (Graduate) <br />• K-Netica Corporation - May 2002 Current Tenant <br />• Lap2 Technology Corporation - September 2003 (Graduate) <br />Partnerships <br />Needs of early stage high-tech companies: <br />I. Ca ital -includes location requirements fox operations of company <br />a. Anoka-Sherburne County Capital Fund <br />- Up to $50,000 total <br />b. Elk River Investment Club <br />Up to $25,000 <br />c. Initiative Foundation (Central MN Region) <br />- $25,000 - $50,000 <br />II. S ace <br />a. Elk River Business Incubator <br />Currently leasing 5,813-SF (3 suites) <br />Source: Federal Community Development Block Grant provided as loan to Tescom <br />Repayment of loan/giant to City is used to fund the Business Incubator Pxogxam in <br />supplement to the portion of cash rent received from tenants. <br />