The Growth Factory startup accelerator is eyeing a small office space in downtown Roseville as part of its regional expansion beyond its Rocklin headquarters.
The city of Roseville received an application for the 2,400-square-foot space this month, according to public records.
“It’s still early stages. We’re in talks with the city,” said Monique Brown, co-founder and managing director of the Growth Factory.
She said it’s too early to say more.
The Growth Factory was launched in October by entrepreneur Mark Haney, and it began its first 16-week accelerator program with 15 companies. It's now looking for its second cohort of local startup companies with an April 15 deadline. The Growth Factory plans to invest $10 million into 100 local companies over four years.
Haney said he always wanted the Growth Factory to be a regional effort, and not just limited to Rocklin. He’d like to have multiple centers in the region to build on his concept of a “backyard advantage,” where local investors and entrepreneurs support a vibrant startup ecosystem.
Haney declined to elaborate on what would occur in the satellite locations.
The application is for space inside a relatively new city-owned building at 316 Vernon St., which is across the street from Roseville City Hall.
The building opened in December 2016. The ground level has about 6,000 square feet of retail space in the four-story building, which totals 83,000 square feet. The upper floors have tenants including Sierra College and some city offices.
The city built the building to replace its 1935 City Hall annex building, which was outdated.
In Rocklin, the Growth Factory accelerator operates out of a 18,000-square-foot building Haney owns. That will still be the headquarters for the cohorts that go through the 16-week intensive training and yearlong program.
The Growth Factory seeks to support local entrepreneurs with access to office space, support services, partners, mentoring and seed funding to develop companies that can attract further outside investment.
