CORTEX: St. Louis' Life Sciences and Technology District

The thriving technology scene covering startups, incubators, investors, etc.
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urban_dilettante wrote:
Wed Nov 15, 2017 11:03 am
^^ F*CK. it was such a great resource. i really really hope someone buys it and maintains it at that location. all those wonderful machines...
Brian Feldt said on twitter

"On the flip side, TechShop closure immediately adds 18,000 SF vacancy in one of the hottest submarkets in town."
Does anyone know someone with Techshop that would be best to talk to about buying that equipment?
pattimagee wrote:
Wed Nov 15, 2017 1:47 pm
Does anyone know someone with Techshop that would be best to talk to about buying that equipment?
Article I read said that Techshop leases the equipment from Cortex. So it'd be Cortex you'd want to contact.
Awesome - thanks!
I wonder if Cortex already owns the equipment and already is subsidizing the project if they could just go ahead and run its own version of TechShop.
^Today's article says no:

“We have no plans of keeping it open,” Lower said of the studio. Cortex has 355 companies, including several hundred startups, situated in the district.

“We intend to make the space available to other tech tenants,” Lower said of TechShop’s space. “We presently don’t have enough space for the requests we have.”

http://www.stltoday.com/business/local/ ... 1bc64.html
From the Cortex Facebook page:

"Attention TechShop STL Members
Cortex, Third Degree & Jim McKelvey plan to reopen the Cortex maker space

November 17, 2017 [St. Louis] – Moments after the news of TechShop’s sudden bankruptcy was announced, a team of St. Louisans joined efforts to save the maker space for the continued benefit of the St. Louis region.

“I was flying to Phoenix when I read the news, and immediately contacted Dennis Lower at Cortex and Doug Auer at Third Degree. In our first conversation everyone agreed that we needed to act fast to resurrect this important community asset. Within 24 hours, we had a workable plan,” said Jim McKelvey, St. Louis native and co-founder of Square.

Dennis Lower, president and CEO of Cortex, noted that, “Our first concern is the folks in St. Louis who were running their businesses through TechShop. This is the height of the Holiday season and orders need to be filled.” The team immediately committed to reopen the maker space in its current location through the end of the year as a new corporate entity, with Third Degree as the operator.

“I remember the original TechShop in Menlo Park, CA. It was not a fancy place, but people made great things there, and the maker community was an inspiration. We have that same community here and it deserves a home. I want my neighbors to feel the pride and satisfaction that comes from making something, and sometimes that requires a really awesome laser cutter,” said McKelvey.

The group has already begun searching for a permanent home after December. “We are evaluating several locations in the nearby community for a new facility, with the intent of reopening a worldclass maker space as soon as possible. We are committed to keeping it in the City of St. Louis,” said Doug Auer, co-founder of Third Degree Glass Factory. “As the new operator, Third Degree will hire several former TechShop employees, but use a business model more similar to Third Degree.”

“Doug is the perfect leader for this operation,” says McKelvey. “What Doug has built at Third Degree is physical proof of his ability to run a world-class maker space. People don’t realize that the Third Degree model is emulated around the world as the way to run a glass studio. That’s all thanks to Doug and the team at Third Degree.”

A special Venture Café maker gathering is planned for Monday, November 20th from 5-8PM in the @4240 Duncan Avenue building in Cortex. “Many operational details remain to be worked out among the team. At the special Venture Café night on Monday we will share information on how former TechShop members can access the space through December,” noted Lower."
^ I started to comment on the more incomplete stltoday article before seeing your post... I think this is even better news now that it appears the current space will be freed up for other tenants and the new maker space will move elsewhere in the area. Finding an older building with a more industrial feel I think would be cool, but not sure where that would be available nearby in the near term. (Crescent would take a while.)
They can have the entire vacant One AT&T Center. 44 floors of makers.
I thought the new Microsoft building was going to have shimmering, multi-hued metallic cladding. So far, all I see is pastel green.
I believe the pastel green is the base layer that the final panels will be mounted to. Just my own observation though.
Mastercard opened a small operation in CORTEX about a year or so ago. Hopefully, CORTEX can get some new MC jobs too.

And hopefully, the 500 new NYC MC jobs won't come at the expense of St. Louis.

Mastercard to Hire 470 to Triple Size of Its Manhattan Tech Hub

MasterCard expansion in Flatiron District will create 473 new jobs

Image
150 Fifth Avenue
arch city wrote:Mastercard opened a small operation in CORTEX about a year or so ago. Hopefully, CORTEX can get some new MC jobs too.

And hopefully, the 500 new NYC MC jobs won't come at the expense of St. Louis.

Mastercard to Hire 470 to Triple Size of Its Manhattan Tech Hub

MasterCard expansion in Flatiron District will create 473 new jobs

Image
150 Fifth Avenue
These actually will probably come at the expense of the Purchase, NY headquarters.


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^ I put the MC Cortex presence in the token gesture column but who knows, maybe one day they decide they need more room with its St. Charles ops and instead add capacity at Cortex or they simply just drop the Cortex office one day.

I'm curious is how Nestle-Purina St. Louis IT move/commitment of relocating its Cali workforce as part of its overall NA realignment is going to play out. Will it grow from a few hundred employees now to the 500-600 range or more? Will they keep current/expand downtown space/lease? or go all in on new space either downtown or CORTEX? I thought it was supposed to happen by end of year but believe it got pushed into in next year, quarter, but with possible expansion or growth of in presence/jobs overall if I understood correct/y from the PD article on Nestle-Purina from several weeks ago.
Behind the paywall, but these are the type of opportunities that seem to be tailor made for CORTEX/Wexford. Its insane to me the cost of business and housing out here in the Bay Area. Yet a lot of bioscience/drug companies seem to double down when you think that more companies would look to new places away from the Coast.

https://www.bizjournals.com/sanfrancisc ... -smith.htm

After a deal to outsource sales of the pain drug Nucynta, Newark-based Depomed will shed 40 percent of its workforce and look for a new headquarters in the Midwest or on the East Coast.