Investors Sue Duluth Startup GeaCom

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By Brooks Johnson, Duluth News Tribune

“Investors are suing Duluth’s GeaCom Inc. for millions of dollars, alleging the medical device maker fraudulently led them to buy stakes in the company, according to court filings.

Five minority shareholders, who together invested more than $3.5 million into GeaCom, want to “recover the investment induced by … false statement regarding pending sales,” according to court documents filed in February.”

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Sentera Soaring To Next Level With Farm Drones

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By Neal St. Anthony, Star Tribune

“Richfield-based Sentera, one of several emerging makers of drones, sensors and software for America’s farmers, is gaining altitude. CEO, Eric Taipale, an engineer who started working on drones a generation ago for defense contractor Lockheed, said relationships with distributors such as huge farm-equipment manufacturer John Deere have been critical.”

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RetraceHealth Ceasing Operations

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Screen Shot 2017-04-19 at 9.32.15 AMBy Andre Eggert, Twin Cities Business

“Health care startup RetraceHealth said it will cease operations at the end of the month, citing the inability to identify a long-term business plan.

The Minneapolis-based company, which provides telemedicine, in-home checkups and services like labs and X-rays, said that increased competition that offered similar services and the consolidation of Twin Cities medical providers made it difficult to stay in business.”

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Beta.MN/Byte: OfferingTree

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OfferingTree

Beta.MN/ Byte is a series underwritten by Bust Out Solutions and published in collaboration with Beta.MN for the early-stage founders between idea and execution.

 
What is the name of the company and/or product?

The company is OfferingTree, SBC.

What distinct problem does this solve for who and how does this create value for them?

After more than 40 in-depth user interviews, we uncovered a core pain point: wellness professionals are trained to teach / coach, but they’re not trained to be entrepreneurs. Marketing, business administration, and technology are huge headaches for wellness professionals and they want an integrated, easy-to-use (i.e., no technical skills required), and mobile-friendly solution to simplify the business-side of wellness.

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Can Oregon Trail Creators Do It Again?

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By Greta Kaul, MinnPost

“Conceived for a class at a public school in Minneapolis, “Oregon Trail,” is among the most popular educational computer games of all time. It loaded students in virtual covered wagons and sent them from Missouri to Oregon in a simulation of 19th-century westward expansion, contending with broken wagon axles, cholera, snake bites and river crossings along the way.”

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gener8tor Opens Applications For Summer Accelerator In Minneapolis

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gener8torTech accelerator gener8tor has opened the application window for founders considering an immersive 12 week startup experience this summer.

Operated from CoCo Uptown by new Managing Director of Minnesota, Eric Martell, the program begins in July and lasts through October with a tentative demo day during Twin Cities Startup Week.

They offer accepted startups 90k upfront for 6% equity with an additional convertible note in exchange for hands on guidance in preparation for follow-on funding.

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Q1 2017 Capital Review: 22 Ventures Raised ~$51 Million

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dundee research underwriterAt least 22 different Minnesota tech ventures received a combined $51m of investment capital during the first quarter of 2017 according to information collected and analyzed from January 1 – March 31, 2017.

This research underwritten by Dundee Venture Capital provides our readers with unparalleled transparency into the funding facts of Minnesota’s tech industry.

It’s compiled from multiple sources as proxy of local market activity: crowdfunding, incubators/accelerators, angel investments, venture capital, corporate arm and private equity. Consider it a worse case scenario as there are always undisclosed transactions not included; therefore the actual figures are higher, although unknown.

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