gener8tor’s inaugural Minnesota accelerator cohort is officially rounded out this week with the announcement of the fifth and final startup participating in the summer session.
Minnesota MD Eric Martell says that four of five startups are already generating revenue and demonstrating traction in their respective markets. Here’s a rundown of all five that will be taking the stage around 8/8:30 at Minneapolis Event Centers.
Headquartered: Vancouver, Canada
Founder: Mike Allan
Categories: Retail / Logistics / Supply Chain
Purpose: To reduce the complexity and cost of shipping and logistics costs associated with last mile delivery
Value Proposition: Routeique helps manage every aspect of an independent distributor business via its cloud-based logistics and delivery management platform. The application handles everything from CRM to order management and invoicing, vendor and product management, route optimization, fleet and driver management, reporting and a host of other functions.
Other: Bootstrapped outside of $90k seed capital from gener8tor
Martell: They are already on a $1m run rate based on a customer relationship with Nestle in Canada and when they close their next customer that will triple to $3m in 2018.
Founder: Greg Dehn
Categories: Fintech & Edutech
Purpose: SaaS platform to connect scholarship administrators with students.
Value Proposition: Save money on fees, better program management, increased student engagement aligned with corporate brands — all which leads to more scholarship matches and theoretically more students achieving higher education in the United States.
Other: Kailedescope has previously close on $650k and partnered with GoKart Labs; for a peek at what Kailedescope has going on right now, check out Dehn’s recent presentation during FARCON.
Martell: The company signed first client in march, has grown customer base with more in the pipeline.
Category: E-commerce & SportsTech
Purpose: To sell golf apparel online.
Value Proposition: Helping the golf industry, specifically brands and courses, engage with and sell products to millennials.
Other: The company started with a golf-spiked sandal, since expanding across all golf apparel, and says they are on pace to hit $500k in sales this year. Further company information can be seen here.
Martell: They are in 150 courses (pro-shops) selling products off the shelf currently and projecting 150 more by end of this year supported by new salespeople hires. They have tripled revenue year over year since formation & 20% revenue growth month over month since June. Additionally, they are entering the PPC market this week to bolster ecommerce side of business.
Headquartered: San Francisco, CA
Founder: Suz Somersall
Category: Edutech & Ecommerce
Purpose: To transforms consumers into creators with a 3D modeling mobile experience.
Market: B2B & B2C
Value Proposition: Sell things to makers while connecting corporations with new & emerging markets.
Other: Founder is on a mission to connect young women with STEM principles by teaching and training in 3D design, modeling, and printing.
Martell: KiraKira recently raised $175k from NYU with a cross marketing arrangement and has formed a content partnership with Autodesk. They are also in the midst of a technology relaunch in Q4.
Founder: Omid Souresrafil
Category: HealthTech & IoT
Purpose: The treatment of chronic spine pain.
Value Proposition: 100 million Americans suffer from chronic pain at some point in their lives resulting in greater than $500 billion in pain management treatment, with an additional $250 billion in associated healthcare costs. Spine implants would provide both consistent monitoring and pain relief solutions via radiofrequency technology, lowering readmission and overall cost of care for patients.
Other: Founder has previous and profitable success.
Martell: I can’t say too specifically but their fundraising process is going well and also in the final stages of a DoD grant process. Will be pitching at the Mayo Clinic’s venture conference. This is a long/IP play.