TECHdotMN: News about Minnesota Startups

By Arundhati Parmar, Finance and Commerce

“A nonprofit in northern Minnesota is about to launch a project that will ultimately bring eight northeast rural counties into the 21st century by providing high-speed Internet.

Earlier this year, the Mountain Iron-based Northeast Service Cooperative received $43.5 million in loans and grants from the federal government to lay 915 miles of fiber optic cable in the region. The nonprofit is set to issue a request for proposal (RFP) by Nov. 15, said Lyle MacVey, director of information technology.”

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By Arundhati Parmar, Finance and Commerce

“A provider of card-payment systems for the health-care industry has raised $1.55 million, according to documents filed with the Securities and Exchange Commission.

mPay Gateway Inc., based in Minneapolis, raised the money from eight investors, according to the filing. Two previous investors also invested in this round — Los Angeles-based GRP Partners and Denver-based Appian Ventures.”

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By Arundhati Parmar, Finance and Commerce

“Call it “password fatigue.” For many of us, remembering multiple passwords is an annoying fact of 21st century life.  Now, a local company says it has the cure.

Chanhassen-based software company Indigo Identityware makes software, used in conjunction with biometric readers, that identifies people with a simple fingerprint, providing instant access to multiple applications. According to documents filed with the Securities and Exchange Commission, Indigo Identityware raised $1.25 million earlier this year. The company is trying to raise more money now, but President and CEO Thomas Rheineck declined to say how much.”

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By Arundhati Parmar, Finance and Commerce

“…St. Paul-based RAIN Source Capital, a multistate angel network group, is finalizing a partnership with a Utah company that focuses on matching entrepreneurs with investors and lenders.

Through the revenue and expense sharing agreement, RAIN Source principals will manage the Twin Cities office of South Jordan, Utah-based Funding Universe, which hosts free events and provide services to help entrepreneurs get access to capital. Funding Universe, in turn will manage the new RAIN angel fund that RAIN Source Capital is setting up in Utah. Funding Universe is investing $100,000 to become a member in the fund. RAIN Source plans to raise a minimum of $1 million in the next couple of months for that fund.”

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by Arundhati Parmar, Finance & Commerce

“Lead generation is crucial for almost all companies, but in residential real estate it’s the bread and butter.

Now, a Minneapolis developer is trying to convince real estate agencies that his custom branded smart-phone app can help them cast a wider net and lock in more potential home buyers.

Aaron Kardell believes that in the future, an ever-increasing percentage of home searches will be conducted on the mobile Web using smart phones and other mobile devices, rather than via a standard computer. Consequently, he says, those real estate companies who can get in front of potential buyers in the mobile arena are likely to score big.”

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By Arundhati Parmar, Finance and Commerce

“Local developers of a new Web-based tool believe they have come up with one that will make the lives of corporate marketers and public affairs executives much easier.

Launched in late January, Curation Station LLC aims to automate the process of gathering and distributing social media content whether it is blogs, online video and audio, photos, Twitter feeds or just plain old news. Curation Station — the product and the company share the same name — was founded by some employees at Hello Viking, a Minneapolis marketing agency. Hello Viking is a reseller of Curation Station, which currently has a couple of customers using its product.”

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