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.”
Over two non-stop days, a number of Minnesota tech entrepreneurs are commingling with accredited investors at the RAIN Maker’s Conference in Bloomington, Minnesota.
Hosted by RAIN Source Capital, the theme of this year’s 7th annual gathering is focus—where to expend capital and time to maximize future returns. Richard Sudek, Chairman of Tech Coast Angels gave Thursday’s keynote and Keith Kegley from the XPrize Foundation delivered Friday’s closing remarks. Five Minnesota technology start-ups are exhibiting at the event, in alphabetical order:
Steve Mercil is the CEO of RAIN Source Capital, a multi-state network of angel investment funds that he founded in 1998. Steve is also Treasurer of the Angel Capital Association (ACA) and Chairman of the Board of Directors with the National Association of Seed & Venture Funds (NASVF).
RAIN Source Capital currently oversees 23 funds across six states with approximately $20 million in committed capital from around 450 individual angels. Since inception, the firm has funded over 70 startups for which RAIN Source raised a cumulative $150m.
about CareWire names new CEO, adds Hotchkiss as CPO
about CareWire names new CEO, adds Hotchkiss as CPO
about Welcome to the programmable world
about E-commerce exploration: DefySupply
about Avabar launches nightlife mobile app