Announcing the Retirement of Russ Straate, Director of the UMN Venture Center

Russ Straate portrait

It is with mixed emotions that we announce the retirement of Russ Straate, Director of the Venture Center at the University of Minnesota, effective December 31, 2024. After 16 years of dedicated service and outstanding leadership, Russ leaves behind a remarkable legacy that has profoundly impacted both the University and the broader Minnesota entrepreneurial ecosystem.

Since joining the University of Minnesota in 2008, Russ has been a driving force behind the Venture Center, which has launched over 265 startups since its inception in 2006. Under his stewardship, the University has consistently produced 20 to 25 new startups annually, showcasing Russ’s commitment to fostering innovation and entrepreneurship. His vision and strategic direction have not only elevated the Venture Center but have also catalyzed the growth of UMN’s startup pipeline, transforming it into a vital engine of economic development for Minnesota and beyond.

Russ has led groundbreaking initiatives, including Discovery Capital, Tech Comm Business Advisory Group, Discover → Advance → Impact™, DiscoverMN Angel Network, and Discovery Launchpad—all of which have been instrumental in providing critical funding and mentorship to UMN-affiliated startups. His ability to forge strong relationships with investors has enhanced deal flow opportunities for emerging companies, solidifying the Venture Center’s position as a key player in the innovation ecosystem.

Throughout his tenure, Russ has prioritized collaboration, engaging with local and national stakeholders to create a vibrant network of support for entrepreneurs. His leadership has encouraged cross-functional partnerships within the University, fostering an environment where research translates into viable business ventures.

Prior to his role at UMN, Russ co-founded two companies in the medtech and high-tech sectors and held senior positions at notable corporations such as Honeywell and Schneider Electric. His extensive experience in business development and commitment to innovation have been invaluable assets to the Venture Center.

As Russ embarks on this new chapter in his life, we celebrate his immense contributions and the lasting impact he has made on the University of Minnesota and the startup landscape in Minnesota. We wish him all the best in his retirement and thank him for his unwavering dedication and leadership.

In light of Russ’s departure, Tech Comm will be conducting a national search for a new Director of the Venture Center. Interested candidates can learn more and apply:

Venture Center Director - Job ID 365103
Internal candidates (UMN login required)
External candidates