Business Accelerator and Incubator Roseville Venture Lab

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Growing ecosystem of entrepreneurs in downtown Roseville

Roseville, California – The City of Roseville, in partnership with the growth plant, launches Roseville Venture Lab in downtown Roseville. The city council approved the accelerator and business incubator plans at the May 18 meeting. The Growth Factory will operate the Entrepreneur Center to strengthen the local start-up business environment and drive job growth.

Open this summer, Roseville Venture Lab will begin to foster a community of entrepreneurs and small businesses through targeted programs, community partnerships, workforce development and events.

“Our city understands the value of a business-friendly climate. Launching the Roseville Venture Lab keeps us competitive, provides benefits to entrepreneurs, start-ups and local businesses, and fuels innovative economic growth by attracting capital and talent,” said Wayne Wiley, Director of Economic Development. of Roseville.

Analysis by the Greater Sacramento Economic Council conservatively estimates direct economic production in excess of $5 million by the fifth year of operation.

Help our local entrepreneurs

“This partnership between the Growth Factory and the City of Roseville represents a significant investment in helping our local entrepreneurs launch and grow their businesses here. Entrepreneurs solve the world’s biggest problems. They take risks and make sacrifices. And, when they succeed, our entire community benefits from the creation of jobs, returns on investment, innovative solutions and much more. Together we are a winning combination for the future. And together, we’ll help drive the backyard advantage,” said Growth Factory founding partner Mark Haney.

The nonprofit Growth Factory will operate the Entrepreneur Center in a 2,416 square foot City-owned space at 316 Vernon Street. Programming will be overseen by the City and a five-member advisory committee.

Cost

Costs for the first three years are estimated at just under $1.16 million, funded by the US federal Rescue Plan Act. Future sponsorships and community partnerships may offset program costs. No money from the Town of Roseville general fund contributes to the program.

The leasehold improvements will provide approximately $330,000 in capital investment for City-owned office space. Over the term of the five-year lease, rental income from the City’s general fund will total $114,960.

About the Growth Plant

Based in Rocklin, the Growth Factory is a not-for-profit startup accelerator backed by a seed venture capital fund that builds and invests in startups primarily focused on the FinTech, MedTech, and GovTech industries. With a focus on capitalizing on the region’s existing assets, known as the “Backyard Advantage”, the Growth Factory has reinvented the traditional accelerator model to meet the vital needs of entrepreneurs by providing founders with Northern California startup capital, capacity-building programs, and a community of investors, mentors, customers, and advocates.

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