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Starting 11 Wins The 2017 Minnesota Cup High Tech Division & Picks Up $30k

Three division finalists gathered last night for their moment of truth in this year’s Minnesota Cup business competition.

Judges chose daily fantasy soccer app Starting 11 as the High Tech division winner, topping Extempore (2nd) and Team Genius (3rd).

Formed in and led by cofounder/ CEO Teague Orgeman, the sportstech venture was formed by six core partners in 2015 to bring fantasy sports into the game of soccer, making it more “active and exciting.”

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Which Tech Startups Are Inside Gener8tor’s Minneapolis Summer Accelerator?

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gener8tor, the Wisconsin-based startup accelerator that expanded into the Twin Cities last year, has commenced their inaugural class in Minneapolis this summer.

After gaining ground on a seed fund to support early activities, they have since inked deals ranging from $90k – $140k in seed funding with four unique tech ventures, now about halfway through their 12 week immersion.

gener8tor was formed circa 2012 and has backed 49 startups via Madison and Milwaukee programs since inception prior to their Minnesota cohort as of April 2017; their own data suggests that 60% of participants have gone on to raise a million dollars+ and/or exited, with $110m in aggregated funding.

gener8tor Minneapolis will be hosting a demo day finale during Twin Cities Startup Week, October 9-15.

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Minneapolis 3D Printing Startup Captures $225k NSF Grant

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Via News Release

“MINNEAPOLIS–(BUSINESS WIRE)–Chromatic 3D Materials is poised to change the world of 3D printing by inventing the next generation of printing materials that will deliver the durability required for finished manufactured goods. The startup was recently awarded a Phase I National Science Foundation (NSF) grant at the highest level, and advanced to the Minnesota Cup finals, the largest statewide startup competition in the country.”

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[Updated] Astro HQ Blasts By A Quarter Million Of Crowdfunding In <72 Hours

Updated 8/24 11:30am CST: Astro HQ is flying high as they breeze by a quarter million in crowdfunding capital in under 72 hours of the mission. This trajectory is faster than two previous big MN hardware wins Spark & SmartThings — both of which have sailed to great heights (and moved HQ from Minnesota to California).

Astro HQ, known for their signature design iOS app Astropad (and winning the 2015 Minnesota Cup Grand Prize), has launched a new hardware product via Kickstarter called Luna Display:

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Local VC DeGroot To Startups: ‘Cashflow Management Rules Everything’

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By Seth DeGroot, BrightStone Venture Capital

“The most important activity facing any startup company is cash-flow management. Successfully managing cash-flow allows the company to reliably forecast operating budgets, and invest excess cash to fuel growth.

Cash flow is very simple; it’s the amount of cash a company either produces or consumes in a given period. In a cash-strapped situation, cash should be monitored weekly or daily basis; this period can be lengthened as the company’s cash position improves.”

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Minneapolis IoT Firm Logic PD Secures $9m Debt Funding

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Via News Release

“MINNEAPOLIS (August 15, 2017) – Logic PD, an Electronics Manufacturing Services (EMS) and Product Development solutions company for the connected digital world, announced it has reached an agreement on a new $9 million senior credit facility with MB Business Capital, a division of MB Financial Bank, N.A. MB Business Capital’s credit facility will be used to fund Logic PD’s working capital needs.”

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