Tech{dot}MN

REM5 VR Lab is a relatively new entertainment destination in St. Louis Park. But its aim is to provide much more to the community than just virtual gaming. Their mission is to bring high-end, virtual reality technology to the local community. Housed in over 6,000 square feet of amazing industrial modern space, REM5 offers a state-of-the-art virtual reality experience for all ages, experience levels, and interests. The REM5 approach makes premium VR accessible, comfortable, and social. 

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Via News Release

MINNEAPOLIS, Aug. 16, 2019 /PRNewswire/ — CVRx, Inc., a private medical device company, announced today that it has received Premarket Approval (PMA) from the United States Food and Drug Administration (FDA) to market its BAROSTIM NEO device for heart failure in the United States. The FDA’s Center for Devices and Radiological Health (CDRH) approved the Company’s submission after a thorough review of the clinical trial data from the Baroreflex Activation Therapy for Heart Failure Pivotal Trial (BeAT-HF).

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“MINNEAPOLIS – August 13, 2019 – Digital River, the most experienced global ecommerce enabler for established and fast-growing brands, announced today that it has transitioned to a “headless” approach, building out its suite of APIs and microservices. This move enables brands to combine best-of-breed solutions from multiple providers to create a flexible ecommerce offering designed to meet increasingly complex shopper demands globally.”

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The team at POPS! Diabetes Care, Inc. has plenty of reason to celebrate this summer. They recently closed an oversubscribed Series A funding of $6 Million, with incredible investor demand. Their product, a digital system which allows users to track and manage their A1C and insulin levels through an app and connected monitoring device, is making major waves in the healthcare space. FDA approval was reached in November of 2018, and in preliminary clinical research, their product demonstrated a 1-point drop in overall A1C for users.

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Via Twin Cities Business

“Neela Mollgaard has been named executive director of Launch Minnesota, the state’s latest initiative aimed at fostering entrepreneurialism. She’ll take the reins August 26.

The program was developed, in part, during the 2019 legislative session through a collaboration between the Minnesota Department of Employment and Economic Development (DEED) and a bipartisan group of lawmakers.

Launch Minnesota brings private businesses and nonprofits together to provide financial incentives, training, and grants to individuals—especially women, veterans, and people of color—who want to start companies in technology sectors including aerospace, agriculture, nanotechnology, and medical devices.”

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Via News Release

MINNEAPOLIS–(BUSINESS WIRE)–International Cardio Corporation (ICC) announced today that it has achieved the first human use milestone of its HIFU Synthesizer™, a therapeutic ultrasound system designed to noninvasively treat vulnerable and occlusive plaques in peripheral arteries. The first of a fifteen patient Safety Study in the Netherlands, this achievement supports the company’s core objectives to reduce stroke mortality and improve the quality of life for those suffering from peripheral vascular disease (PVD).

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Via MPR News

“Gov. Tim Walz announced Thursday that the state has hired a Colorado-based technology company to replace the troubled Minnesota Licensing and Registration System, also known as MNLARS.

The state contract with Fast Enterprises will provide the new system, which will be known as Vehicle Title and Registration System or VTRS. The company will use off-the-shelf software rather than build the new system from scratch. Fast Enterprises was the only company to respond to Minnesota’s Request for Proposals in June.”

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Via News Release

MINNEAPOLIS–(BUSINESS WIRE)–Less than two years after being conceptualized, Minneapolis-based digital lending & borrowing platform DeFiner.org has beat out 17 other Fintech startups to win one of the industry’s most coveted prizes. DeFiner.org was announced as winner of the 2019 Detroit Fintech Challenge on Sat., Aug. 3. “We are humbled and honored to have received this distinction,” said Jason Wu, Founder and CEO of DeFiner.org, a peer-to-peer lending platform that uses blockchain and smart contract technology to allow safe transactions without a middleman.

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Minnesota has embraced startup culture, and BETA is doing their share to encourage this trend to continue. After introducing 138 startups over the last five years, BETA is now in position to help take some of their successes to a whole new level. This week marks the launch of the BETA Tournament of Champions. Eight startups will compete for over $50,000 in funding and services to help solidify their place in the market. Read More »

Via News Release

MINNEAPOLIS, Aug. 7, 2019 /PRNewswire/ — Arcline Investment Management (“Arcline”), a growth-oriented private equity firm with $1.5 billion of capital under management, today announced that it has acquired Pride Engineering, LLC (“Pride” or “the Company”) from May River Capital.  Pride is anticipated to be the first of several acquisitions as Arcline builds a specialty tooling platform across numerous industries.

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