Cinch locks up a million

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Cinch SystemsSt.Michael-based Cinch Systems has raised $1m in equity financing, according to a notice recently filed with the SEC.

Founded in 2005, Cinch specializes in the design and manufacture of hardware and software products for high-security installations. The firm offers a full line of AES encrypted high-security alarm systems and intrusion detection products for the US State Department and similar highly classified areas.

It was reported in the summer of ’09 that the firm had already raised $2.2m, signed a new lease and partnered with Boeing to launch a system that uses sensors to log, encrypt and transmit data on who enters an area and when.

Prior to Cinch, CEO Joel Christianson, was with GE in security for 10 + years.

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Updated: Presenters Added – MinneDemo is Back on January 13!

by Mike Bollinger

MinneDemo

The 9th production of MinnDemo will take place on Thursday, January 13, 6:00pm at St. Thomas’ Schulze Hall.

MinneDemo happens roughly 2-3 times per year to showcase real, working technology products made in Minnesota. In January, ten companies will give 7-minute demos of functional hardware and/or software. In addition to the Minnesota tech buzz, the event is known for facilitating some of the best startup networking in town.

Organizers Ben Edwards and Luke Francl have moved the event to St. Thomas from its previous location at Intermedia Arts in Uptown. “We’ve had such a huge level of interest in this event that we’ve needed to move it around as space has become an issue. We’re always looking for better venues,” said Ben. In the past the event has been held at Chang Mai Tai, Acadia Cafe (before it moved), O’Gara’s, and Intermedia Arts.

Updated 1/5/10 12:45 – The 10 demonstrations include:

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On startups – entities, cap structures, securities, markets and more. Get to Know #14: Harold Slawik

by Paul Godfread

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GTK #14 Harold Slawik (25 min)

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Harold Slawik from New Counsel on startups Harold Slawik is a Partner with Minneapolis-based New Counsel, PLC, a law firm that is known for it’s work with entrepreneurs and startups in the Minnesota technology industry. Harold has extensive experience with private practice, as in house counsel for Sun Microsystems and with startup companies in both Minnesota and California. Harold is also an investor having started a private equity company that invests in software companies.

Why startups we wondered?

“We both (partner John Roberts) have had a lot of fun, that’s where the most fruitful experiences in our careers have been…it’s where we’ve both developed our experience and expertise. It’s been my exclusive focus since the mind 90’s and while there were a lot of law firms in this town doing tech stuff in the late 90’s during the boom days, after the crash, many of these firms cannot practice it to the degree that we do for the price that we do . There’s a market opportunity at our level.”

Harold shares with us his thoughts about what a startup company needs to do when starting and considering raising debt or equity financing; we’ve outlined the takeaways below:

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