New group to fund up to 10 Twin Cities startups a year



By Sam Black, Minneapolis – St. Paul Business Journal

“Another new regional nonprofit aimed at funding Twin Cities startups is set to launch next year.

“Accelerate MSP” will attempt to help turn around an “innovation contraction” going on in the Twin Cities, St. Paul Mayor Chris Coleman told a few hundred people Monday at the second annual Minneapolis St. Paul Regional Economic Development Forum in Minneapolis.”

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  • Jeff Pester

    Sorry, but this is just embarrassing. According to the article, the project got off the ground 3 YEARS AGO, and hasn’t even raised enough money to commit their stated minimum investment to the minimum number of startups they claim to want to invest in for the upcoming year. Beyond that, their six-member founding board hasn’t been able to spur meaningful seed stage investment locally via their own financing arms for over a decade.

    And, it’s a “virtual” organization – WOW! That sounds super cool. And the University has agreed to be “fiscal agent” – talk about an all-in commitment!

    Where’s the fresh thinking? Where’s the new blood? Unfortunately for local entrepreneurs, this is another half-baked quasi-government plan which has absolutely no chance of survival let alone success.

    Please, go read just about anything Brad Feld has written on startup ecosystems before you create another one of this ridiculous potemkin villages.