Davis Roots, a recently formed nonprofit business accelerator bridging the city of Davis and the University of California, Davis, officially opens its headquarters at the historic Hunt-Boyer Mansion today. The enterprise is geared toward supporting startup companies to succeed and stay in the city, with two companies ready to move in.
Davis Roots was founded by Andrew Hargadon, director of the 新澳门六合彩内幕信息 Davis Child Family Institute for Innovation & Entrepreneurship and professor at the 新澳门六合彩内幕信息 Davis Graduate School of Management, and Anthony Costello, a founder of several successful startups and former chair of the city鈥檚 Business and Economic Development Commission.
鈥淲e have the shared goal of fostering the formation and early development of new high-growth ventures in Davis,鈥 said Hargadon, who holds the Charles J. Soderquist Chair in Entrepreneurship at the management school. 鈥淲e hope to eventually bring many more companies into this facility.鈥
The first two companies are:
- Barobo, a 新澳门六合彩内幕信息 Davis spin-off that is building programmable robotics for the education and consumer markets; Barobo robots are simple enough to enable robotics to be taught to elementary school children.
- Nuritas, launched by 新澳门六合彩内幕信息 Davis post-doctoral student Nora Khaldi, who has developed a proprietary bioinformatics tool for discovering 鈥漬utriceuticals,鈥 or food components that affect health.
The founders of both companies are recent graduates of the Child Family Institute for Innovation and Entrepreneurship's Entrepreneurship Academy programs.
鈥淒avis Roots is an example of the kind of partnership both parties need 鈥 the city so it can tap more directly into the research and innovation so prevalent on our campus, and the university so our students and faculty have another vehicle to help cultivate their commercial ideas and vision,鈥 said Chancellor Linda P.B. Katehi.
鈥淲e each know how important it is to have an environment that supports and nurtures innovation so we can improve the lives of our residents and create new jobs and commercial ventures and partnerships,鈥 she said.
The new headquarters has room for four to six more companies to move in during the next few months, and eventually, eight to 10 tenants in total. Davis Roots is leasing the space from the city.
鈥淒avis Roots represents an exciting collaboration between the City of Davis and the entrepreneurial community,鈥 said Rochelle Swanson, Davis mayor pro tem. 鈥淭his is just the start of a new type of economic development for our city, focusing on home-grown startups and university spin-offs. The emphasis will be on innovation and creativity and the creation of new businesses and jobs.鈥
Hargadon added: 鈥淭his partnership allows Davis Roots participants access to 新澳门六合彩内幕信息 Davis鈥 entrepreneurship curriculum and to a broad network of mentors and potential investors, as well as entrepreneurs and emerging technologies from within 新澳门六合彩内幕信息 Davis.鈥
Emerging ventures apply for and are selected first into the Davis Roots mentoring program, where they gain access to a network of experienced entrepreneurs, investors, patent and corporate lawyers and are supported in preparing a more detailed nine-month launch strategy, which includes a business plan, fundraising goals and project milestones.
Upon acceptance, new ventures are given office space within Davis Roots. Those that successfully grow and raise external funds receive assistance, as well, finding Davis office space to continue their growth in town. Those that are unsuccessful at meeting milestones or raising funds relinquish their Davis Roots space to new ventures.
Davis Roots is currently fundraising to sustain and grow its operations.
鈥淭he most important part was getting the space, and now鈥攚ith that space鈥攚e are turning to the fundraising,鈥 Hargadon said. He added that Davis Roots will take a small equity investment in each accepted venture. In this way, those ventures that ultimately succeed return value to the nonprofit, to support future ventures and the City of Davis.
Katehi has called for increased collaboration between the 新澳门六合彩内幕信息 Davis campus and the region to bring new ideas to the marketplace, generate jobs and boost the economy. Recent initiatives include the creation of new 鈥渋nnovation hubs鈥 on campus, aimed at better fostering collaboration among related research units, enhancing interaction with the private sector and accelerating the transfer of 新澳门六合彩内幕信息 Davis inventions from the lab to the marketplace. Other examples are the College of Engineering Technology Transfer Center, where faculty establish startup companies in an on-campus incubator; the decision to bring energy-related research units together in a single location at 新澳门六合彩内幕信息 Davis West Village, the nation鈥檚 largest planned zero net energy community; and the formation of a 新澳门六合彩内幕信息 Davis Corporate Relations office to enhance communications among 新澳门六合彩内幕信息 Davis and corporate partners.
More about the 新澳门六合彩内幕信息 Davis Child Family Institute for Innovation and Entrepreneurship:
More about the 新澳门六合彩内幕信息 Davis Graduate School of Management:
Media Resources
Karen Nikos-Rose, Research news (emphasis: arts, humanities and social sciences), 530-219-5472, kmnikos@ucdavis.edu
Nicole Starsinic, 新澳门六合彩内幕信息 Davis Institute for Innovation and Entrepreneurship, (530) 220-2394, nstarsinic@ucdavis.edu