More Minnesota Tech Startups Raising More Angel Money


Minnesota Angel InvestorsAs the amount of 2011 tax credits ($12m) available through the Minnesota Angel Investor Tax Credit (AITC) program came to a halt last month, DEED was quick to update a final list of which companies had received what for the year.

The program, created in May, 2010, offers qualified angels (and funds) — whether from Minnesota or not — with a 25% refundable tax credit on investments made towards certified local startups.

At the half, roughly 17 tech companies had seen some $5.5m in investment capital through the program, with approximately .75 cents on every dollar going into ‘high tech’ ventures (IT, SaaS, web, mobile, telecom, etc.) at the time.

With this new data made available,  many startups have gained under AITC since we last looked:

3D Sports Ventures + $220K

Accelerated Innovations + $1m

Anser Innovation + $140k

Argos Risk + $450k

AsystMe + $67.5k

AtPlayMusic (stealth) – $187.5k

Brilliant Nations Corp. (Brilliant Cities) – 73k

Conservis + $170k

Early Learning Labs – $100k

Echobit + $50k

ForMyChildren (stealth) + $22.5k

HSIO Technologies – $1.5m

Instant Wireless Interpretation + $71k

Jericho Ventures (stealth) – $325k

LocaLoop + $208.5k

Midart Communications + $50k

Nitch – $50k

Packet Power + $225k

Seeonic + $125k

Vizsy – $160k

(+) denotes increased amounts (-) represents new additions to the list


  • Fjaskulke


  • Anonymous

    I thought the $500k report we got from Jumpstart told us only 2 early stage companies were funded in 2010.  Either there was a big jump this year or that expensive report was a waste of time and money in an effort for them to enhance their importance.