Laserfiche WebLink
One company has new management, new customers and is poised to realize <br /> its <br /> full potential albeit after a one year plus hibernation (Vertical <br /> Publishing) . <br /> o new companies have entered the program (Bixby and KnowledGenetica) . <br /> ach <br /> have excellent prospects and good management teams . <br /> One company is in liquidation; it may also be sold on a royalty stream <br /> basis <br /> (ProtectorCare) . <br /> MAS Technologies is dead and buried. <br /> In summary, one major success out of seven incubator companies is a <br /> great <br /> statistic and would be highly regarded among incubator professionals. <br /> The <br /> fact that only two of the seven are dead or dying is also impressive. <br /> Further, the fact that economic development staff from Duluth recently <br /> visited the incubator to gain insights into the successful Elk River <br /> incubator program speak volumes about the results that have been <br /> achieved. <br /> Beyond the obvious job creation (high wages as well) and enhancement of <br /> the <br /> tax base (through the additional property tax payments made as part of <br /> the <br /> rent paid by CYMBET) , CYMBET's stock (of which the EDA now holds a <br /> modest <br /> position) may well become quite valuable in three to five years based <br /> upon <br /> conversations held recently with one of the foreign venture capital <br /> investors <br /> o serves on the board of directors of the company. <br /> 111, <br /> Other equity positions held by the EDA from the rent barter program may <br /> also <br /> become valuable over the years ahead. In the aggregate, these holdings <br /> may <br /> yet provide a significant asset to the EDA as its mission evolves over <br /> the <br /> years ahead. This asset may ultimately provide a modest endowment for <br /> the <br /> EDA-a source of annual income once converted to cash and invested in <br /> high <br /> grade debt securities. This income would offset or eliminate any need to <br /> seek <br /> taxpayer or other sources of funding to some extent for either the <br /> incubator <br /> program or other programs in the future. <br /> Looking Forward <br /> The success of CYMBET should lead to the establishment of a cluster in <br /> the <br /> community. Other materials sciences companies may well be attracted to <br /> the <br /> community as success begets success. These companies will have equipment <br /> and <br /> apparatuses that require cooling that in turn will require the discharge <br /> of <br /> substantial quantities of water (albeit clean water) . CYMBET and at an <br /> earlier date Northstar Photonics were unable to use the incubator <br /> facility <br /> much or at all respectively because of the water throughput restrictions <br /> of <br /> 2 <br />