The former location of Fuhrman Real Estate on First Avenue Southeast sits empty, save a few desks and chairs. But next week, more furniture will be delivered as the site takes one step closer to becoming the new location of Austin Community Growth Ventures’ “Launch.”

“’Launch’ is the place where we want entrepreneurs and new business people to come and launch ideas, businesses, opportunities, friendships and networking,” said Judy Lundy, commercialization innovation coordinator for Austin Community Growth Ventures. “We wanted a place for things to be happening in the business community.”

Lundy hopes to have an open house for Launch in June.

Created by the Development Corporation of Austin, Austin Community Growth Ventures is working to increase commercialization in Austin. According to the 2016 Department of Economic Development report, 53.9 percent of businesses in Southeast Minnesota have four or fewer employees. Lundy hopes to “help those existing companies if they want to expand in scale.”

“There is a community of innovators here,” she said. “I’m just connecting dots and helping them find connections that they need to grow their businesses.”

For current business owners, Launch will have drop-in space and allow people to rent desks, offices and a conference room. It will also offer business courses and will examine what is needed for work force development in Austin and how to expand Austin businesses.

“We want this to be a local and regional business source,” Lundy said.

Lundy also hopes to help aspiring business owners via Launch’s “Austin Start Up Factory,” a 12-month program designed to take a company from virtual to reality. To make is happen, the Austin Community Growth Ventures partnered with Iowa State University’s Start Up Network and is one of five networks in that group.

The first Start Up Factory began in January and has three companies participating as a cohort.

According to Lundy, the first six months of the program is composed of three academies:

• Business Model Academy — participants learn about what the product is, who is the customer, how big is the market, and how big is the obtainable market. “Start local, think global, just like Hormel Foods did,” Lundy said.

• CEO Academy — learn about whose the leadership, management team, board of directors, first hire, other infrastructure. “We start to put the puzzles together for them to build their company and infrastructure,” Lundy said.

• Funding Academy —participants create pitches and practice for presenting their business to potential investors and raise the equity they need. Also discuss how to divide the equity. “Every start-up has to have money, which is one of the biggest obstacles,” Lundy said.

During the second six months, Lundy said Launch puts together a team for participants. They get a desk at Launch to work and are part of the co-working space.

Lundy said Launch is currently recruiting for the next Start Up Factory, which is scheduled to begin in mid-June. There is room for seven companies. Although the Hormel Foundation and Southern Minnesota Initiative Foundation provide some funding, there is a $1,000 fee for participants for the 12-month program. The fee includes a desk at Launch.

“We think the value is worth far more than that,” Lundy said.

Those interested may contact Lundy at jklundy73@gmail.com or visit Launch at 109 First Ave. SE, Suite 4.

“I think it’s bigger than Austin,” Lundy said. “Nationally, you see this presence of these co-working spaces. It’s a way to grow your businesses locally.”