Hundreds of entrepreneurs, investors and corporate executives gathered at the Depot Hotel in Minneapolis on October 27 and 28 for the
Midwest Innovation Summit, an annual gathering that showcases what’s next in technology and manufacturing across the region. About 75 exhibitors were on hand, including promising Minnesota startups like 75F—winner of this year’s
Minnesota Cup— and Water Meter Solutions, which operates out of
CoCo Minneapolis.
“The Midwest Innovation Summit is about attracting entrepreneurs and business leaders from all across the region to display any solution that uses natural resources more efficiently,” says Justin Kaster, executive director of Midwest CleanTech Open, the summit’s sponsor. “Many of the exhibitors here are committed to sustainability for ethical and environmental reasons, but [Midwest Innovation Summit] really shows that clean technology is a great business opportunity as well.”
In innovation capitals like the Twin Cities, Kaster adds, entrepreneurs and investors have “started to respond to that value proposition” over the last decade. “Everyone realizes that clean technology is a win-win situation now,” he says. “You don’t have work overtime to convince people of that anymore.”
Several Twin Cities companies have clearly bought in. Water Meter Solutions makes two water-saving technologies. Floo-id is a “smart toilet monitoring device” that allows property managers and homeowners to monitor their toilets’ water use in real time, quickly identifying leaks and other issues that could affect their water bills. Floo-id is powered by flowing water, making it energy neutral. Water Meter Solutions’ other technology, H2O Pro, performs a similar function for entire buildings’ water systems, offering value to multi-unit landlords.
Nearby, Minneapolis-based Irri-Green’s exhibitor booth showed off the Genius irrigation system, a patent pending lawn-watering setup that analyzes landscape contours and other factors to deliver water as efficiently as possible. Each Genius irrigator’s range overlaps precisely with that of the next, “eliminating the wasteful, overlapping arcs of water that conventional irrigation systems” produce, says Irri-Green.
Garden Fresh Farms, a Minneapolis startup and 2013 Minnesota Cup division winner with an aquaculture facility in the city, was on hand as well. The fish in the company’s growing tanks continuously fertilize the plants suspended above them, creating a self-sustaining ecosystem that produces plant and animal products for harvest.
These local companies are part of what Kaster calls “a regional ecosystem of innovation.” He urges entrepreneurs, investors, nonprofits and government entities across the Midwest to “think bigger than the city or county level” and “move past the state versus state competition” that can hinder the exchange of ideas, people and investment. The Northeast, Kaster says, is a great example of a region where innovators have banded together to create sustainable, big-picture solutions, like the
Regional Greenhouse Gas Initiative.
“We have a tremendous amount of intellectual and creative capital here in the Twin Cities,” he says. “Events like the Midwest Innovation Summit are conduits for ideas and investment from nearby areas” that ultimately raise the profiles and prospects of local innovators.