Carolyn Fath
Scott Resnick
StartingBlock Madison, the nascent entrepreneurial hub planned for the 800 block of East Washington Avenue, named former mayoral candidate Scott Resnick its executive director this morning. The group is also beginning a final $1.5 million fund-raising push in hopes of opening its doors late next year.
Resnick was on the team that developed the concept for StartingBlock. Unlike similar efforts around the country, Resnick says this facility will be a nonprofit, with local companies and people investing in it.
“Other centers have outside investors that need to turn a profit immediately,” says Resnick. “We can help nurture a company and think about what is the long game and strategy for companies to grow.”
A former Madison council member, Resnick lost his bid this spring to unseat Mayor Paul Soglin. He currently serves as chief operating officer of Hardin Design & Development. Resnick says he would continue to work for the company, although with reduced responsibilities, much like he did during the final months of the mayoral campaign.
StartingBlock will house several components, including Sector67, the hacker/maker collective; gener8tor, a business accelerator; the Doyenne Group, an organization devoted to helping women entrepreneurs; and Capital Entrepreneurs, a 300-member organization of leaders of Madison area startups.
Eventually, StartingBlock will rent space for emerging companies. The leases will be flexible and short-term to fit each company’s needs, Resnick says.
“Our shortest lease duration would be around three months,” he says. “Our goal would be to incubate the startups and send them on their way. Hopefully we can keep them [in Madison] and move them into other space being developed [in the city].”
The organization has already raised about 85% of the initial $10 million it is seeking, Resnick says. The push for the final $1.5 million is on, with Madison Gas and Electric and American Family both contributing.
“Starting block needs to raise the money to open its doors,” Resnick adds.
Developer Otto Gephardt is overseeing the overall project in the burgeoning corridor. The project also includes plans for a concert venue, a parking garage, offices and retail. Formal plans have not yet been submitted to the city for approval, though Resnick hopes this will happen soon, with construction beginning later in the year.
The StartingBlock portion will be 55,000 square feet. If all goes as planned, StartingBlock could open its doors at the end of 2016.
Until then, Resnick envisions the organization doing some programming and mentorship for entrepreneurs. His initial focus will be on raising the money to get the venture going; after that it will be on focusing on operations and helping new companies get on their feet. Resnick says his own experience with Hardin will help others.
“We grew Hardin Design and Development out of our dorm room,” he says, adding that StartingBlock will allow new companies “to work on their ideas in a safe environment.”
