Rucker Investments, the Beverly-based private equity firm whose portfolio includes the Worcester Railers hockey team and the Worcester Palladium concert venue, is launching an entrepreneurship hub in Downtown Worcester, seeking to provide capital and other support to startups and scalable businesses.
The hub, named Auxilium Worcester, will include an innovation studio offering a 12-month residency featuring access to mentorship, business support, and capital investments, as well as a three-month accelerator designed to boost existing businesses with access to industry leaders and investments starting at $250,000, according to a Thursday press release from the firm.
Auxilium will be led by Executive Director Zachary Dutton, the former leader of the Venture Forum, a Worcester nonprofit focused on boosting entrepreneurs.
“I am honored to lead Auxilium as we work to empower entrepreneurs and drive innovation in Worcester,” Dutton said in the press release. “Worcester is on the rise, and Auxilium will play a vital role in shaping its future as a hub for entrepreneurship.”
Auxilium Worcester will be based out of a 14,000-square-foot space in the Central Exchange Building at 311 Main St. Owned by Rucker Investments, the building is the home of the Worcester Regional Chamber of Commerce.
Rucker Investments was founded by Beverly businessman and entrepreneur Cliff Rucker and his wife Susan Rucker, a former advertising manager for telecommunications firm Verizon.
The accelerator will launch with its first class in June, while the innovation studio is expected to come online in the fall. Applications will go live for Auxilium’s programs on Tuesday, according to its website.
Eric Casey is the managing editor at Worcester Business Journal, who primarily covers the manufacturing and real estate industries.
