University Enterprise Laboratories is still on the hunt for its next executive director after Diane Rucker stepped down from the position near the end of last year.
The incoming executive director could be embarking on a new era for the approximately 18-year-old early-stage business incubator, which is aiming to grow and accelerate its impact for startups in the biotech sphere.
"UEL has been a major catalyst in Minnesota's life sciences industry and our next executive director will be tasked with expanding our significance and contributions to our tenants' success and the growth of our state's economy," UEL Board Chair Andy LaFrence said in an emailed statement.
When Rucker announced her departure from UEL in December, the organization said it expected to have a permanent replacement in place by midyear. Instead, UEL in June hired local search firm Ballinger | Leafblad to pilot the search. It's also formed an internal search committee to guide the process and interview finalists.
Mike Berthelsen, former vice president for university services at the University of Minnesota, remains the interim executive director until a permanent leader is named.
The incubator held a series of visioning and strategic planning workshops around the turn of the year to chart the course of what the next three to five years could look like. In recent years, it has grown from 32 to 60 tenants.
Bob Schoenbaum, a partner with Ballinger | Leafblad who is leading the UEL search, said "these things change, it's fluid" when asked about the selection process so far, but added that a timeline is now locked in. Applications for the role are open until Sept. 8 and Schoenbaum said the hope is to have somebody on board by late fall.
Compensation is listed at $175,000-$225,000 base salary and a potential managerial bonus. Ballinger | Leafblad has further details about the position on its website.
Rucker told the Minneapolis/St. Paul Business Journal in December that she was departing partly because she wanted to see a new leader take the helm of the incubator. Through her leadership, UEL underwent an 18,000-square-foot expansion of its facility near the university’s Minneapolis campus and partnered with Gener8tor’s gBETA Medtech accelerator, among other accomplishments.
