3M Sells Off 450 Person Biometric Tech Unit To Gemalto For $850m

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screen-shot-2016-12-08-at-5-06-32-pmVia News Release

“ST. PAUL, Minn.–(BUSINESS WIRE)–3M announced today that it has entered into agreements to sell the identity management business within its Traffic Safety and Security Division, to Gemalto, the world leader in digital security, for $850 million, subject to closing and other adjustments.”

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Coming Soon: Welfare Watch

by The TECHdotMN Team

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Starting in January 2017, we will publish a new monthly column related to a potential financial element of owning and operating a technology company in Minnesota.

Welfare Watch will spotlight individuals, nonprofit and private companies in the local tech industry who are receiving government (read: taxpayer) financial support or subsidy — tax incentives, grants, interest free loans, reimbursements, special favors — whether directly or indirectly.

The column will be forward looking in the sense that only corporate welfare happening in January 2017 and after will be watched.

 

 

 

MNSure Comes Crashing Down…Again

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By Christopher Snowbeck, Start Tribune

screen-shot-2016-11-01-at-11-28-27-am“The health insurance shopping season got off to a rough start Tuesday with complaints and technical difficulties at the MNsure website and a report that the MNsure call center was targeted by robocallers tying up phone lines.

The website at the state’s health insurance exchange opened for business at 6 a.m., and MNsure officials said roughly 1,200 signed up for coverage within the first two hours.”

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GovDelivery CEO Scott Burns on the Merger With Granicus

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Scott Burns, cofounder & CEO, GovDelivery

One month after GovDelivery was acquired by private equity firm Vista Equity Partners, they turn around and merge with Colorado counterpart Granicus.  Let’s hear more:

Franklin Partners

Was this part of the plan all along, as in, did you know this was going to happen when Vista bought GovDelivery?

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GovDelivery Merges With Granicus

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By Ben Miller, GovTech

screen-shot-2016-10-25-at-9-45-58-am“Two of the largest cloud-based companies in the government technology market, GovDelivery and Granicus, have merged into a single firm. The deal, brought about through the private equity firm Vista Equity Partners, is a major one for the market — the companies each serve more than 1,000 government entities at the federal, state and local levels in the U.S. Vista disclosed a $153 million price tag on its stake in GovDelivery. While it didn’t list the size of its investment in Granicus, GovDelivery CEO Scott Burns told Government Technology that Granicus is about the same financial size as GovDelivery.”

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Paulsen’s Startup Stock Bill Passes The House

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By Bobby Franklin, TechCrunch

screen-shot-2016-10-18-at-11-10-35-am“On any given day in our nation’s capital, you’ll find many lawmakers touting the benefits of entrepreneurship.  Unfortunately, this enthusiasm is all too often forgotten when it comes to our nation’s tax policy, which often either ignores or is outright hostile towards startups.

That is why when legislation does gain traction to massage the tax code to the benefit of startups and their employees, it’s worth cheering from the hilltops.  As I write, there is legislation quietly making its way through Congress that could take a very productive step towards creating a tax code that supports entrepreneurship.”

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Millions In Minnesota Angel Investor Tax Credits Free Up For 2016

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angel-tax-seal-minnesotaThe Minnesota Angel Tax Credit has an additional $5.1m in funds available as of tomorrow.

Minnesota’s Angel Tax Credit provides a 25-percent credit to investors or investment funds that put money into qualified startup companies; residents of other states and foreign countries are eligible.

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Paulsen Bill Proposes Tax Advantages For Startups

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Via Ripon Advance

Screen Shot 2016-07-25 at 10.12.10 AM“Legislation recently introduced by U.S. Rep. Erik Paulsen (R-MN) aims to promote employee ownership and encourage innovation at startup companies. The Empowering Employees Through Stock Ownership Act, H.R. 5719, would enable startups to defer taxes on stock options in employee compensation packages to make it easier for employees to exercise those options.”

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Equity Crowdfunding In Minnesota aka MNvest Is Finally Real

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MNvestMinnesota Intrastate Equity Crowdfunding, aka MNvest, is now legitimately ready for use.

MNvest aims to provide wider, cheaper, and faster access to funding for entrepreneurs by offering a new way to access 3rd party capital from the un-accredited masses.

It follows a wave of investor deregulation stemming from the JOBS Act of 2012 and Minnesota now joins over 20 state peers with it’s own localized version of exemptions alongside Title III federal crowdfunding.

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