TechShop, a membership-based workshop that last year announced plans to establish a location in St. Louis, is seeking $3 million from Cortex officials and 1,000 precommitments before it will make the move.
Cortex currently has a third of the membership requirement and half of the $3 million required for the move, Cortex CEO Dennis Lower said. The money would go to covering the construction of TechShop’s new location, operating equipment and startup costs.
TechShop has eight locations in the U.S. The company’s COO said he expects the St. Louis location to be operational by the fall of 2015.