Their expansion begins with “no equity pre-accelerator” gBETA program starting in fall with their signature accelerator planned for the summer of 2017 — contingent upon raising sufficient capital beween now and then.
gener8tor was formed in 2012 with major backing from American Family Insurance to invest seed stage in high-growth software, IT, web, SaaS, e-commerce and hardware startups.
Cohorts for both gBETA and the accelerator program are capped at 5 startups per; accepted accelerator startups receive up to $140K and 12 weeks of mentorship-driven programming.
To date, 42 gener8tor alums have cumulatively raised more than $75M in follow-on financing. Of these 42 alums, 3 have failed, 79% have raised more than $250K in follow-on financing and 45% have gone on to raise more than $1M in follow-on financing or have been acquired.
gener8tor has recruited 4X serial entrepreneur and AmFam EIR Mark McGuire as Managing Director of gener8tor in Minneapolis, who will be officially moving here next month.
McGuire attended Law School at the University of Minnesota and has since experienced “a few wins and a few losses” on his own entrepreneurial journey.
“I’m very excited about coming to Minnesota to help the cause around these entrepreneurs and scratch my own professional itch with this next chapter. There’s great momentum and energy in the Twin Cities right now, we see tremendous opportunity to be here and join the ecosystem,” McGuire says of his new role.