EDSR MEMORANDUM 06-12-2000 rk,/ A.(
ity ofAk� MEMORANDUM
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iverTO, Economic Development Authority
FRM: Marc Nevinski, Assistant Director of
VEconomic Development
DATE: June 12, 2000
SUBJECT: Meeting Agenda
5. Appointment of Catherine Mehelich as Executive Director
Action
Staff requests that the EDA consider the appointment of the Director if
Economic Development, Catherine Mehelich, as the EDA's Executive
Director.
6. Consideration of Vertical Publishing for Incubator Program
Issue
Vertical Publishing has requested consideration for admittance to
1111 Business Incubator Program. The Incubator Advisory Board met on
May 31, 2000 to review the company's application and recommends
that Vertical Publishing be approved to enter the Business Incubator
Program.
Background
Vertical Publishing, Inc. (VP) is an e-commerce business to business
marketing firm that specializes in providing small trade publishers
with a presence on the world wide web. Its approach is two fold. First,
with specially designed software, VP will place a client's publication on
the web and provide continuous updates of material. It will also
provide detailed meta-tagging (ie search terms) of archived
publications to provide meaningful results to a subscriber's
information search. Secondly, VP will provide vortals to its
subscribers. A vortal is a grouping of websites and internet
publications that provide information on similar topics. A subscriber is
able to conduct a detailed search and receive results that provide only
the information requested. Subsequently, publishers are able to
expand their subscriber base and increase revenue from
advertisements.
•
13065 Orono Parkway • P.O. Box 490 • Elk River,MN 55330 • TDD&Phone: (612)441-7420 • Fax: (612) 441-7425
• VP was founded by Darryl Arquitte, David Held, and Frank
Christopherson. Other investors and management team members
I I'I'
include Wendell King and Arnold Angeloni of Gateway II, a venture
capital firm, as well as Harlan Jacobs. Charles Newman developed the
software and licensed it to VP.
VP is would like to enter into a one year lease for 2000 sf of incubator
space beginning as early as July. It may become necessary for VP to
lease an addition 1000-2000 sf as the company grows. It is anticipated
that VP will employ as many as 30 people by the end of year one.
Should this occur, limited parking will require that the company find
other office space in Elk River.
As a dot-corn company, high speed internet access will be crucial to
VP's operations. Staff has been working with Northstar Access to
provide a fiber optic cable in the form of a T-1 line to the incubator.
This will be done at no cost, although, it will be necessary to install a
number of jacks in each incubator suite which will like cost the EDA
between $500 and $1000.
Action
Staff request that the EDA consider approving Vertical Publishing's
application for admitance in to the Business Incubator Program.
Attachments
• Application
• Incubator Advisory Board meeting minutes — May 31, 2000
7. Presentation of Strategic Industrial Marketing Plan—Anita S.
Duckor
Anita S. Duckor will present the completed Strategic Industrial
Marketing Plan to the EDA.
Attachments
• Power Point Outline
• Strategic Industrial Marketing Plan
s:\eda\agenda\00june12.doc