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You are at:Home » Technology and biotech startup spaces planned for Franklinton and OSU
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Technology and biotech startup spaces planned for Franklinton and OSU

Adnan MaharBy Adnan MaharNovember 21, 2024No Comments3 Mins Read0 Views
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The City of Columbus and Ohio State University are partnering with a venture capital firm to develop technology and biotech startup space in Franklinton and on campus.

Columbus venture capital firm Rev1 Ventures, with the help of the city, will open 43,000 square feet in Franklinton’s Peninsula development late next summer, designed to house its own offices and high-tech startups. It plans to lease space for what it calls “Software Array.”

Following the move, Rev1 plans to partner with Ohio State University to establish a lab for life science startups at the university’s Carmenton Technology and Bio Campus at Lane Avenue and Kenny Road.

“This is the first space like this in the Columbus area,” said Rev1 CEO Tom Walker. “Startups need flexible space to grow their companies.”

The two spaces will replace Rev1’s current space on Kinnear Road. The company plans to move its 25 to 30 staff to the ground floor of its Peninsula office, with co-working and event space for tech startups on the second floor.

Rev1 will pay for the space in part with donations from the city of Columbus. The City of Columbus has donated between $188,000 and $500,000 annually to Rev1 since 2007. The city plans to donate $250,000 to the company this year, the same amount it donated to the city of Columbus. For the past 6 years.

Venture capital firm Rev1 Ventures plans to open new lab space at The Ohio State University's Carmenton development, replacing Rev1's Kinnear Road lab space shown here.

Rev1’s move will also help fill vacant offices on the peninsula, which will no longer have offices in the next phase.

The second part of Rev1’s plan will see the company’s Kinnear Road wet lab space replaced by a new lab called the Commercialization and Entrepreneurship Center, which is currently being designed for the Carmenton campus.

“Kinnear’s current space includes a general wet lab,” Walker said. “Traditionally, these have been the main wet labs for advanced science spin-outs. They were built in the ’90s. The space was great, but we’ve been there for 30, 35 years. I’m trying.”

Walker said the new wet lab space in Carmenton will be completed in two to three years.

According to a news release announcing the expansion, Rev1 has supported more than 1,400 startups and generated more than $3.3 billion in impact in central Ohio. The startups include MentorcliQ, a Columbus company that operates software that helps companies manage mentoring programs.

Venture capital firm Rev1 Ventures will move from Kinnear Road to this office within the Peninsula development, where it will also manage a tech startup space.

“It’s empowering to be around other founders who are building high-growth companies,” Phil George, founder and CEO of MentorcliQ, said in a news release. “Every day brings new challenges and opportunities. Rev1 understands these needs.”

jweiker@dispatch.com

@JimWeiker



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Adnan Mahar
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Adnan is a passionate doctor from Pakistan with a keen interest in exploring the world of politics, sports, and international affairs. As an avid reader and lifelong learner, he is deeply committed to sharing insights, perspectives, and thought-provoking ideas. His journey combines a love for knowledge with an analytical approach to current events, aiming to inspire meaningful conversations and broaden understanding across a wide range of topics.

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