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Growing medtech industry to alter real estate market


Minnesota’s medical-technology (medtech) industry is broadening, bringing with it new real estate opportunities and challenges.
Panelists discussed the industry during a virtual event the Minnesota Commercial Real Estate Women, a local business network, held Wednesday. They identified an expanding need for coworking and shared lab spaces as companies continue with hybrid work models, as well as a need for new types of amenities medtech companies demand all of which could change the business models of commercial real estate companies.
Minnesota’s two fastest growing industries are bioscience and manufacturing. “And medtech fits right squarely into those two categories,” said Terri Ulrick, a principal and director with St. Paul architect firm BWBR. ....

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Interview: Alexis Kochanski, director of member engagement, Medical Alley Association


Beyond the Skyline is a podcast about economic development, commercial real estate and construction in Minnesota. Above all, it’s a show about what’s next, creativity and the innovation in technology that are changing how we work and shaping the future of business throughout our state.
Elevating and expanding diversity, equality and inclusion (DE&I) efforts is gaining prominence for many organizations, including those in Minnesota’s Medical Alley.
Medical Alley companies are not only undertaking internal DE&I reflection and initiatives, but they’re also looking externally to help their communities achieve better equities in health. To ensure this DE&I work is successful and meaningful, Alexis Kochanski, of the Medical Alley Association, says employees at all levels must buy in to the work. ....

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Medical Alley Companies Raised $347M in Q1 | Twin Cities Business


That included a mix of private and public capital, according to the Golden Valley-based Medical Alley Association.
Cash continues to flow into Minnesota’s medical startups. On Monday, the Medical Alley Association reported that its member companies raised more than $347 million during 2021’s first quarter.
That figure includes $109 million in private capital and $238 million through public markets, the med-tech trade group said in a news release. Investments in the first quarter are paving the way for “another record-breaking year” for Medical Alley, the group said.
“While 2020 was characterized by large, later-stage raises, 2021 is starting out with a refilling of the early-stage pipeline,” Medical Alley officials said in the release. “A total of 43 companies raised funds, nearly doubling Q1 2020’s total of 22.” ....

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