Entrepreneurship : Innovation + Job News

Giant Steps

October 7
Guthrie Theater
818 S. 2nd St., Minneapolis
$120
 
Designed for "creative entrepreneurs and entrepreneurial creatives," this gathering includes workshops on topics like creative collaborations, networking and promotion, funding models for creative projects, and using social media effectively. Registration includes access to an after-party and concert.
 
 
Downtown Minneapolis Job Fair
 
October 12
Minneapolis Convention Center
1301 2nd Ave. S., Minneapolis
Free
 
Held in the Convention Center's ballroom, this major job fair features companies that are hiring in fields like accounting, health care, management, sales, and construction.
 
The Minnesota Venture & Finance Conference
 
October 12 & 13
Minneapolis Convention Center
1301 2nd Ave. S., Minneapolis
$295 for members, $495 for non-members
 
Now in its 25th year, this conference showcases entrepreneurship and investment, with presentations, networking opportunities, and workshops. Panels this year cover topics like innovation financing, intellectual property rights, IPOs, tax credits, and general trends in financing.
 
Women in the Boardroom
 
October 17
Hyatt Regency
1300 Nicollet Mall, Minneapolis
$105
 
This executive leadership event is designed to assist women in preparing for board service, and includes panelists who share their knowledge and expertise. The organization holds these annual events in 15 cities nationwide, as a way to boost interest in diversifying for-profit and non-profit boards.

Highlighting the strength of the state's technology sectors, the Minnesota High Tech Association (MHTA) announced finalists for the 2011 Tekne Awards.
 
The award program, now in its 12th year, recognizes innovations from 2010 that represent the brightest in development, commercialization, and management of technology in Minnesota. Forty-two finalists were named in fourteen categories.
 
The MHTA noted that recent growth in Minnesota's educational and robotic technology sectors were particularly visible this year, but that all technology sectors are staying strong.
 
In the education category, finalists are Capella University, Sophia, and Naiku--which recently won the recent Minnesota Cup award. Finalists in other categories represent a range of companies, from large firms like Imation Corp. and Digital River to smaller businesses like Xollai and QuickCheck Health.
 
The awards are designed to showcase these types of companies, and draw attention to the innovative and competitive companies in the state, according to MHTA president Margaret Anderson Kelliher. They're part of the organization's larger mission to boost education and entrepreneurship along with technology development.
 
"We're very excited about the opportunities available to technology companies here," says Kelliher. "In general, we believe that individuals and companies in the state have more potential than they do challenges. We're proud and happy to support them in any way we can."
 
The Tekne Awards will be presented on November 3 at the Minneapolis Convention Center.
 
Source: Margaret Anderson Kelliher, Minnesota High Tech Association
Writer: Elizabeth Millard

As telecommuting and contract working increases in the Twin Cities, coworking opportunities are keeping pace.
 
The latest initiative for bringing independent professionals together under one roof is WorkAround, a Minneapolis-based office space that distinguishes itself by providing both shared offices and business consulting services.
 
Founded by business coach Buffie Blesi and entrepreneur John Burns, the space is located in the Warehouse District, and features both individual desks/cubicles and conference rooms.
 
Blesi notes that the idea for a coworking space came, in part, from her efforts to bring together business coaches she'd hired as part of her company, KnowledgeSphere, and her part of a franchise, AdviCoach. She says, "I didn't feel like we were a team, we just weren't connecting well. Also, even though I worked from home, I began to feel like I'd do just about anything to get out of the house."
 
That experience is familiar to many entrepreneurs and small business owners, she believes, and a sense of connection and community can be helpful in fostering creativity and company growth.
 
WorkAround distinguishes itself from other coworking arrangements in the Twin Cities because of its business coaching, which is part of a member's coworking package. AdviCoach professionals advise members once a month on business matters.
 
"Our members are primarily small business owners in service-based businesses," she says. "CoCo has a lock on the technology entrepreneurs, and while they're certainly welcome here, we feel that this environment is more geared toward people who have started a business in the last year or two."
 
Connecting with others in the WorkAround space allows members to be part of a community that cares whether they succeed or fail--something that most people have a hard time getting at home, working alongside pets and kids, Blesi believes.
 
"We want our members to get to that next level, where they eventually have a space of their own," she says.
 
Source: Buffie Blesi, WorkAround
Writer: Elizabeth Millard 

In the seventh annual Minnesota Cup competition, the top winner of $50,000 in seed capital was AUM Cardiovascular, a Northfield-based startup that developed a handheld device that can detect coronary artery disease.
 
The company's founder and CEO, Dr. Marie Johnson, started the firm after her husband died suddenly at age 41 while she was still a Ph.D. candidate the University of Minnesota.
 
Although he'd seemed to be in perfect health, Johnson's husband had suffered a heart attack, and it moved her to focus on creating a system that could identify symptoms of coronary artery disease.
 
Johnson estimates that she'll need about $3 million to accomplish the goal of preparing her device for market, and she believes that the award's seed money, combined with the presentation skills she learned through the award process, will help her to reach a new level of entrepreneurship.
 
Launched in 2005, the Minnesota Cup has become a high-profile and competitive event among entrepreneurs. Companies compete in six divisions, including biosciences, clean technology, high tech, and social entrepreneurship. There's also a student division.
 
This year, more than 1,000 participated, and in addition to AUM's win, several semi-finalists also received seed funding to grow their businesses. Other winners are Energy Max Panel, Naiku, Anser Innovation, Tesgen, and HOURCAR.
 
According to the Minnesota Cup, past participants have many notable success stories to tell. For example, the 2009 grand prize winner, 8th Bridge, raised $5 million in series A funding soon after the competition, and another $10 million in series B in 2011.
 
Other winners have been acquired, secured new capital, or garnered major distribution agreements as a result of their awards.
 
So, for entrepreneurs looking to fatten up their funding: start thinking ahead, because Minnesota Cup 2012 is likely to be even livelier.
 
Source: Minnesota Cup
Writer: Elizabeth Millard

They may not produce ooze, but Primordial Soup (Psoup for short) has plenty of creative juices flowing.
 
The St. Paul-based medical device design firm got launched in 2008, by three founding partners who "quit their normal jobs just as the economy was becoming so awesome," says co-founder Chris Trifilio, with a laugh. The trio had worked as consultants and often crossed paths, and eventually, they began talking about joining forces.
 
"One of the main reasons we formed Psoup is that when you work as a consultant, you can't help but feel the excitement of entrepreneurism," Trifilio says. "So we formed to be able to make our own products, instead of consulting on other people's products."
 
Although the economy was already grim when they launched, he believes that the recession was an advantage as much as a challenge. "When we started, everything was so terrible," he notes. "Because of that, we're lean and focused, with not a lot of overhead. We're super efficient."
 
The work done at Psoup is distinctive, combining a spare elegance of form to match very specific medical functions. For example, a hip screw implant is not only less invasive to the body, but it's also sleek, with a kind of minimalism that's nearly artistic.
 
The firm has produced medical device work that was in two Minnesota Cup entries, for Circle Biologics and QuickCheck Health (a runner-up in its division).
 
Although there's a strong focus on surgical tools and implants, Psoup also takes on consumer electronics for companies like Best Buy, says Trifilio. One major change in the past year in particular, he adds, is that the firm used to work mainly with very large companies like Medtronic. Now, all of their business is for small companies and startups, which Trifilio sees as a compelling change in the industry.
 
The opportunity is there for plenty of growth, yet the lean-and-focused team is hesitant to expand too quickly, and Trifilio's not sure they even want to go beyond hiring a few more people for their six-person team.
 
"Our mission is different," he says. "We don't want to be a 50-person firm. We want to keep going down the path we're on, because it's fun and we love it. Right now, our pipeline is full and I expect that will keep going."
 
Source: Chris Trifilio
Writer: Elizabeth Millard

Finding entertainment options isn't much of a feat these days, with Netflix streaming video, Hulu, iTunes, and many others competing for your attention. But what happens when you turn off your connection?
 
Entrepreneur and technologist Daren Klum believes two things: that a lack of Internet shouldn't mean a night of channel surfing or board games, and that you should have access to a huge amount of entertainment options.
 
To bring both to life, he created CRAM, a system that uses cartridges loaded with music, movies, TV shows, and other content. "I call us 'Netflix on steroids,'" he says. "Or, like Redbox in the palm of your hand."
 
With the service, a customer can use a special device that wirelessly streams the content to up to four other devices. That means someone could be watching a movie in the living room, while another is listening to music upstairs, and the kids could be accessing educational content from a handheld out in the treehouse.
 
Up to 360 movies can be stored on a single device, and users will pay about $20 per month to gain access to unlimited content.
 
The product hasn't launched yet, but it sure has some heavy hitters getting it ready. In addition to Klum, who has a long track record of creating technology products, the company has advisors that would make any startup swoon, since they hail from CBS, Sony, Disney, and Best Buy.
 
The startup has secured $600,000 in investment already, with part of that coming from St. Thomas' William C. Norris Institute. The product will officially launch in January, at the high-profile Consumer Electronics Show in Las Vegas.
 
"The growth potential here is phenomenal," says Klum. "Once we hit the market running, we plan to expand from a staff of 8 people to hundreds of employees. It's all really, really exciting."
 
Source: Daren Klum, CRAM
Writer: Elizabeth Millard

Your phone’s wake-up alarm resets itself to 30 minutes earlier than programmed because there’s traffic congestion on your usual route. As you drive to a meeting, your favorite coffee stop has your order ready before you approach the drive-up window. While sipping the latte, you’re directed to a gas station with the lowest price in the area.
 
Such unseen forces of organization seem like the stuff of science fiction, but Minneapolis-based AsystMe is working to create a legion of “automated personal assistants” that make life easier for all of us.
 
The company recently garnered a nice chunk of angel funding from private investors in Minnesota and North Dakota, as part of a larger initial round of funding. Investors were impressed with the enterprise’s knack for creating automated assistants that do tasks on users’ behalf. The system works by monitoring relevant data sources, and responding based on user preferences.
 
AsystMe founder Joel Nash came up with the idea for the company after spending years as an engineer and entrepreneur. In the past, he automated tasks for factories, but began being interested in home automation, and finally, in data automation.
 
“People always talk about data overload, how people feel stressed because they’re trying to constantly monitor data and work with technology,” he says. “With this approach, our solution is to put a layer of automation between people and these data sources.”
 
Some of the scenarios that Nash envisions may be a few years away, but they’re not too far-fetched. For example, notification services can already remind users of dry cleaning pickups, client meetings, and personal trainer sessions. Sending an automated order to a coffee shop or monitoring traffic data can easily be folded into those existing tasks.
 
“There’s no reason why we can’t have more automation to deal with information overload,” Nash says.
 
Source: Joel Nash, AsystMe
Writer: Elizabeth Millard

What do web and mobile engineers and consultants do for fun? Design mobile games, of course.
 
The latest local game addiction comes from Bust Out Solutions, a firm that engineers websites and mobile apps for clients like Best Buy, Minnesota Public Radio, The Saint Paul Chamber Orchestra, and Pedal Brain.
 
Employees at the firm have long wanted to build a product for themselves, but were always too busy with client work, according to founder and developer Jeff Lin.
 
Despite the client deluge, a small team eventually got together and created Brahmageddon, a whack-a-mole type of mobile game that uses characters from the great classical epics of India, the Ramayana and Mahabharata, Players have to defeat cannibal demons by smacking the on the head as they pop up.
 
“We had a number of concepts, and this one just seemed silly and unique,” says Lin. “It’s on the simpler side of game design, because we just wanted to see what we could do.”
 
Although Bust Out engineers designed the game as a nice stress reliever, without intentions of selling it, Lin ended up chatting with a major game distributor who gave him some encouragement about future game development. The game has even provided a return on investment, by selling over 100 copies through Apple’s App Store.
 
“The project was a success in that we proved we can design games and launch them, and still have fun doing it,” he says. “This has given us all kinds of ideas about where we could go from here.”
 
Source: Jeff Lin, Bust Out Solutions
Writer: Elizabeth Millard

Can office gossip be put to good use? That’s the question behind a new local web service, Office Leaks, which provides an anonymous forum for company employees to express their views.
 
Founder Ryan Masanz came up with the idea after years of being a network services consultant. Traveling to over 100 companies in that career, he was struck by how often people expressed valuable, interesting opinions about projects or other people, but never went to their managers with those thoughts. At the same time, the managers would ask Masanz for his own opinion regarding operations, communication, and productivity.
 
“I felt like I was doing therapy,” he says. “I thought, what if we could remove that fear that people have about expressing themselves?”
 
Launched last April, Office Leaks is currently in startup mode, but already it’s becoming a robust forum, Masanz believes. Employees from over 500 companies are already enrolled in the site, with new companies signing up daily.
 
Not surprisingly, privacy is a top priority for the site, and Masanz goes to great lengths to make sure that anonymity is cemented into place. There are no backdoors into an employee’s account, and Office Leaks doesn’t keep any identifying information. “The less data we keep, the better,” he says.
 
Office Leaks is free for employees to use, but the site also invites managers and company owners to join by offering businesses the ability to sponsor forums with their employees for a monthly fee, without compromising employee anonymity. This provides sponsoring companies with several additional functions, like being able to make their community private.
 
So far, Masanz hasn’t had to install many filters, but as the site gets more popular, he anticipates that additional controls may have to be put in place to make sure that no one is betraying company secrets or infringing copyright. He says. “Our main rule is ‘don’t be evil,’ and that includes libel and trade secrets. Honestly, though, I’m surprised by how civil it’s been. People just want to be heard.”
 
Source: Ryan Masanz, Office Leaks
Writer: Elizabeth Millard

Everything it Takes to Build Your Company
September 8
Cowles Auditorium, Humphrey Institute
301 19^th Ave. S., Minneapolis
$45 for members and $105 for non-members
 
Part of The Collaborative’s series on business growth, this event features an array of speakers giving advice on leveraging technology, building revenue, and finding success in medtech. Experts include speakers from Best Buy, Calabrio, Shavlik Technologies, Compellent, GovDelivery, and more.
 

Minnesota Bioscience Summit
September 20
Nicollet Island Pavilion
40 Power St., Minneapolis
$99 for members and $129 for non-members
 
Presented by LifeScience Alley and the BioBusiness Alliance of Minnesota, the summit features panels that tackle three overarching trends that are poised to radically impact all the bioscience industries.
 

Advanced Search & Analytics Summit
September 20
2112 Broadway St. NE, Minneapolis
$495
 
Put on by DemandQuest, this summit is for people who are familiar with Google AdWords and want to dig into a more advanced understanding of how to manage and refine their campaigns.
 

Minnesota Developers Conference
September 29
DoubleTree Bloomington Hotel
7800 Normandale Blvd., Bloomington
$150
 
Now in its sixth year, the Minnesota Developers Conference is the largest developers conference in the Midwest. This year features seven tracks totaling 28 sessions, with the spotlight on .NET, Ruby, mobile, Silverlight, cloud computing, and HTML5.

 

Hennepin and Carver counties are rife with community garden efforts, but the counties are now embarking on a whole new kind of growth initiative. They're hoping to sow the seeds of business expansion, and they're currently looking for savvy CEOs to benefit from the process.

The Economic Gardening Network is an idea that came out of a project in Colorado, according to Hennepin County senior planning analyst Ron White. He notes that a large defense contractor there began struggling and was forced into layoffs, but the community came together in order to prevent widespread unemployment. They pooled their money to support local businesses in their second stage of growth.

In a similar move, the Economic Gardening Network is now looking for businesses with between 10 and 99 employees, with current revenues between $1 million and $50 million. "Statistics show that companies at this level have the most potential for job growth," says White. "They have a good chance for steady growth, and that's what we want to focus on."

Other eligibility criteria include: having maintained a business presence in Minnesota for at least the last two years, and growth in employment or revenue in two of the past five years.

The counties will be selecting 15 companies for a pilot program that includes technical assistance from a strategic research team, market research, project management, and other resources. It's an all-around education program meant to spark growth, White says.

Already, there's been a very encouraging response, he adds. The counties reached out to economic developers in various cities, then broadened their search from there. White is confident that they'll fill the pilot program, and hopefully keep gardening in the future, too.

Source: Ron White, Hennepin County
Writer: Elizabeth Millard

New technology companies may get some heavenly help in the near future, with investment from a just-formed angel investor group.

AngelPolleNation (APN) is the brainchild of attorney Jeffrey Robbins of Messerli & Kramer. After representing entrepreneurs in his practice for nearly three decades, Robbins began to notice that angel investors were lacking in the state more than ever before. Some news reports early this year confirmed his suspicions, and he thought there must be a way to amp up angel funding in the area, especially for technology firms.

Although there are a number of organizations that serve entrepreneurs with resources and networking connections, the crucial angel investment component has been dwindling, Robbins believes.

"When you go to entrepreneurial events, the number-one topic is money," he says. "Everyone in early-stage companies struggles with where to find enough money for what they want to do."

At the same time, investors benefit from joining together, Robbins notes, instead of attempting to fund companies on their own. "It's hard to be a solo investor," he says. "It's really nice to be connected to others."

The initial phase of APN will focus on getting investors and entrepreneurs communicating, and Robbins hopes to draw a number of angels to the group. In July, APN's first meeting at Interlachen Country Club attracted about 70 local investors, and featured presentations by other angel groups like Twin Cities Angels and Minnesota Angel Network.

The next APN event is set for mid-September, and Robbins anticipates that there will be quarterly meetings from that point onward.

Source: Jeffrey Robbins, AngelPolleNation
Writer: Elizabeth Millard

The craft beer movement is in full swing, and downtown Minneapolis is about to get another hot spot for hop lovers.

Fulton Brewery is set to open around mid-September, and when it does, the Warehouse District location will feature tours and growler sales, with initial brews like American Blonde and Russian Imperial Stout.

The four founders--Ryan Petz, Brian Hoffman, Pete Grande, and Jim Diley--met in college and bonded over homebrewed beer. As soon as they whipped up a fairly decent version, they started joking about selling their creation, notes Hoffman. "It was one of those conversations that got more serious without any of us realizing it," he says.

About two years ago, Petz was looking at a dismal internship market as he studied at the Carlson School of Management, and came up with the idea of starting a company as his summer project. From there, the momentum built until Fulton went from garage to full-scale brewing space.

"More and more people are getting into the beer scene, so this is great timing for us," says Hoffman. "Also, people who drink craft beer aren't brand loyal, so they tend to try beers from different breweries. That means we all do better as craft beer does better."

As they ready the new space, Fulton is working to build up buzz for their brews, through participation at events like "Brew at the Zoo" and "Eat Ramen, Help Japan." Eventually, Fulton would like to be a major player on the local beer scene, but for now, he and his partners are content to work on opening their Fulton Brewery doors and welcoming the adoring masses.

Source: Brian Hoffman, Fulton Beer
Writer: Elizabeth Millard

Sustainable growth is the holy grail for any small business, and the University of Minnesota is now aiming to help more companies reach that goal.

The university recently developed Small Biz, a 9-month program designed for small, established businesses that will identify and address key growth challenges.

Once a company is selected for inclusion, it can take advantage of monthly advisor sessions, co-working space, workshops, and interaction with peer companies. One particularly distinctive aspect of the program is the access to university graduate student projects, according to Jeffrey Seltz, Manager of Business Development Services in the university's Office for Business & Community Economic Development.

Business owners can depend on implementation support from a "smart and ambitious graduate student," he notes, as well as tap into the university's other research and faculty resources. The university is in the process of choosing its first round of eight to 10 companies (application info is available on the Small Biz site), and kickoff is expected the first week of September.

The program stems from an assessment done by the Carlson School of Management, which looked at small business needs, and specifically at what types of resources could be improved.

Although similar programs are cropping up nationally and in the metro area, Seltz notes that Small Biz is set apart because it's not geared toward starting businesses and entrepreneurs, but instead toward established companies looking to reach the next level of growth. Also, the array of resources available from the university makes it a particularly rich, supportive environment.

"We have access to key resources, cutting-edge research, and a vast network," he says. "It's an intense program, and we're looking forward to seeing it in action."

Source: Jeffrey Seltz, University of Minnesota
Writer: Elizabeth Millard