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rhe Anoka Sherburne CountyCa italFundandthe Cityof Elk River
<br /> p
<br /> ConraInlate Genesis Business Centers,
<br /> Ilinner of a10011ekne 1Iard.
<br /> The
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<br /> 1 -Genesis Partners Business Centers
<br /> Genesis is a private economic develop
<br /> k ment company which provides assistance
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<br /> a. to Minnesota's best and brightest seed
<br /> r 1 �' n stage technology companies.
<br /> ;is
<br /> ►Anoka Sherburne County Capital Fund
<br /> ' ' The ASCCF is a for profit fund created
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<br /> by the Anoka County Economic
<br /> "~_ .”"...0,., ,c
<br /> ??:IDevelopment Partnership which doe
<br /> s
<br /> j
<br /> $ w4-- economic development work in and for
<br /> ;, " * t„ Anoka County.The Fund makes equity
<br /> �� investments in emerging technology
<br /> q�'k,* ” companies that are or willlocate in Anoka
<br /> s, Ior Sherburne Counties.
<br /> .. City of Elk River
<br /> ,- The light industrial manufacturing hub
<br /> t4 ,, of the northwest,Elk River is 8 miles
<br /> �a
<br /> } p - north of the I-494 beltline.The city's
<br /> : :1 •,1affordable land,Energy Citystatus,and
<br /> financial assistance has proven appealing
<br /> Cymbet Demonstrates the Power of Partnering to firms in all stages of growth--from
<br /> incubator to international;from garage
<br /> startup to regional rollout.Elk River has
<br /> 0 ltimately,batteries in hearing aids,cell approached the City of Elk River about the more than 200 acres available.
<br /> phones,and PDAs will disappear from Incubator Program,a collaboration between
<br /> the consumer's consciousness and the city and Genesis. Clients Served
<br /> become an integral part of the product. Genesis helped Mark launch his firm ►The ASCCF has invested in StepMate,
<br /> Cymbet's goal is to develop a unique manu- with an initial bridge loan of$400,000 in Cymbet Corporation,Micro Surfaces,
<br /> facturing process to produce these ultra seed capital.A significant portion of this Northstar Phototonics,and Vertical
<br /> thin,solid state batteries which will be infi- investment came from the ASCCF and the Publishing as a result of the Genesis
<br /> program in Elk River.In addition,the
<br /> nitely rechargeable through wireless means. Elk River Investment Club,a unique local ASCCF has made 25 investments in
<br /> Brian Shiffman,Cymbet's vice president business network. companies located in Anoka County
<br /> of business development explains,"We did a Harlan Jacobs,president of Genesis says,
<br /> thorough site selection for a location that "We took Cymbet overseas to Helsinki, For More Information
<br /> could support our high-tech research and Finland and Tel Aviv,Israel to secure a total ►Harlan T.Jacobs,President
<br /> manufacturing firm.We chose Elk River, of$4.5 million in venture capital funding. Fri �] 6 S I S
<br /> U6CE I CENTERS LTD. y5-
<br /> Minnesota because we were impressed with This allowed the company to finalize its wwwGenesisCenters.com
<br /> the financial assistance from the Elk River technology transfer agreement with the (763)782-8576
<br /> Investment Club,the Anoka Sherburne Oak Ridge National Laboratory." Iv.Roger Jensen,President
<br /> akunty Capital Fund,
<br /> and Genesis Business Cymbet recently expanded from the incu- ASCCFenters." bator into it's own headquarters.Cymbet's Anoka Sherburne County Capital Fund
<br /> Genesis Business Centers and the ASCCF Shiffman notes,"Now,that we've moved wwwacedp.org
<br /> excel at identifying and assisting emerging into our new facility,we're thankful for (763) 786-0869
<br /> ►Cathy Mehelich,Director i
<br /> technology companies as they strive to go Elk River's hometown flavor,the business City of Elk River,EDA rty of
<br /> from laboratory to marketplace. community's camaraderie and the city's wwwc-eriver.mn.us Elk
<br /> Cymbet's founder Mark Jenson first development expertise." (763)4.411k-
<br /> 7420 River
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