Thirty Semifinalists Named in ‘Minnesota Cup’ Business Plan Competition
I attended and Twittered a bit at a reception Wednesday evening, June 25, at the grand, old James J. Hill Library in downtown St. Paul. (You remember old J.J., don’t you, the Bill Gates of his era?) It was an event to honor the startups who made it to the next round of the Minnesota Cup, an annual, statewide competition that seeks out aspiring entrepreneurs and their breakthrough ideas. The 30 lucky semifinalists were selected from a record of 840 entries in this fourth and largest year of the competition, and will vie for prizes that include $50,000 in cash for the first-place winner. An interesting tidbit I picked up at the reception: about 10% of the 840 entrants were Web 2.0 related.
Scott Litman, cofounder of the event, told me the competition this year was the toughest ever, and that many plans that might have made the cut in previous years didn’t. He also told me that, unfortunately, many entrants may have had great business concepts, but they were not understandable — the submissions were either poorly written, or riddled with so many acronyms and buzzwords that the judges flat-out did not know what the heck the submitter was talking about. (So, take heart, rejectees. You may be great at selling your ideas verbally — now work on the written word.)
Here’s how the Minnesota Cup site states its mission: “We’re looking for the next great entrepreneurial success story in our state. This competition is for all entrepreneurs, whether your breakthrough idea is high tech or no tech, whether you are just putting your ideas into a business plan or if you’ve been out building your venture.” Well, I wonder if it’s possible that any who entered, and especially the chosen semifinalists, could really be “no tech” in this day and age? That would be hard to imagine. And, in looking over the list, there’s nary a one that would seem not to rely on technology in their businesses. (Although some without a website certainly have the aura of no-tech at this point, perhaps awaiting prize money to build? And what’s with all the student semifinalists being listed with no websites?) As for the lack of a requirement that the business be new, i.e., that older startups can also apply, I know at least two on the list are four to five years old and still chasing $50k. Ah, hope springs eternal. Here’s the full list: Read more
BlueShirtNation: Success from Risking Failure
Connecting thousands of high turnover, twenty-something retail employees into some sort of cohesive and connected online network would seem worthy of senior executive leadership, strategy formation, funding, project managers and endless meetings to ensure that it was aligning with the goals and objectives set forth at the outset. None of that happened with one of the most visible employee social networks yet deployed, BlueShirtNation.com, which is Best Buy’s blue, polo-shirted retail employee online network for internal use only.
Instead Gary Koelling, now Senior Manager of Social Technology at Best Buy, was in the advertising department with his colleague, Steve Bendt (also now a Senior Manager of Social Technology). These two went ahead and built just such a network and did it on the cheap and outside the confines of the organization. As you’ll soon learn, they did so with great success, but this is a cautionary tale.
The BlueShirtNation adventure began because these two didn’t think their advertising was as effective as possible and they were wrestling with new methods to reach people in 2006 — especially how to reach those in the Millenials demographic — and had been doing so by going out to the stores and talking to retail employees. As they explored ways in which to connect people and have them be involved with input into messaging and advertising, they’d been playing around with podcasting and some other ideas but hadn’t hit on the right solution.
They knew that employees wouldn’t fill out surveys online or other online feedback mechanisms so Koelling, who had been using the open source content management system Drupal, cobbled together something with that platform in order to test out an idea: building some sort of destination site that employees could use to connect with one another, share content and information, and other typical uses of a social network, giving these ad guys and their department better visibility into what these customer-facing folks were thinking and experiencing in the stores daily. Read more
Budget Hero Arrives Compliments of American Public Media
Now that the two major parties have chosen their candidates both are weighing their choices for a running mate. Perhaps your work on the National budget could put you on the short list.
The recently released on-line game “Budget Hero” launched in May by American Public Media in partnership with the Woodrow Wilson International Center for Scholars, may not get you spot at the cabinet table; it could give you valuable insight into the budget process.
According to Michael Skoler, executive director of the Center for Innovation in Journalism at American Public Media, “Budget Hero is a new type of journalism that gives people the big picture on the complex and fragmented federal budget process. We created this news game to help Americans feel they can understand and participate in the national debate over the election, the budget and the direction of our country.”
Skoler shared with me that the game was in the talking stages for over a year and a half. “We sometimes thought we were crazy to build something as ambitious as a game…something that was journalistically sound yet simple enough for all to understand and take part in.“ With the involvement of many firms, think tanks, the Budget Office, as well as help from game development consultant Ben Sawyer, Budget Hero soft launched in May.
“The saying ‘you can’t understand until you walk a mile in someone else’s shoes’ best describes Budget Hero,” said David Rejeski, who heads the Serious Games Initiative at the Woodrow Wilson International Center for Scholars. “The game empowers players to take on the role of our government officials and allows anyone to try out their solutions and ideas on how to manage the federal budget.”
So let’s play… Read more
Nabbit Moves Beyond Tagging
On May 13th a press release announced the new partnership between Eagan-based Jump Technologies’ Nabbit service and CBS Radio, Minneapolis (102.9 Lite FM, 104.1 Jack FM, 830 WCCO AM). This partnership will further move Nabbit from a relatively simple tagging application into a full blown marketing tool. On that day, the eve of the big rollout of said partnership, I sat down with Nabbit chief (“Chief Nabber” on the business card), John Freund, to talk about the Nabbit, where it started, where it is and where it’s going.
Nabbit was born some two years ago as Freund and his team at Jump Technologies were discussing the eBay purchase of Skype. “I remember saying how great it would be to have 50 million subscribers to anything.” The discussion included colleague (and radio fan) Norton Lam’s thoughts about tagging radio content. So was the birth of Nabbit. According to Freund, “The first year we dedicated about 10% of Jump Technologies resources to Nabbit.” That has clearly grown as Nabbit has evolved, indicating a great deal of confidence in the potential of the business.
At first, it truly was a “content play” offering listeners of radio the ability to tag songs and advertisements via internet enabled cell phones. Those tagged pieces of content are placed into the Nabbit user’s account for later action including purchase or artist and advertiser info.
“We found that while users were tagging music they were actually tagging more advertising and the calls to action that they provided.” This led to what Nabbit describes as the first service that allows marketers to combine broadcast, mobile, direct response, and online advertising into one integrated consumer marketing campaign.
Here’s how it works. Read more
Minnesota’s Internet Tech Crowd Flexes Its Muscle
If one had any doubt about the intensity of our state’s information technology and Internet community, one only had to be anywhere inside the U’s Coffman Union on Saturday for the third annual Minnebar “unconference” (part of an international phenomenon called Barcamp). To say the joint was a-jumpin’ simply does not suffice. And numbers alone don’t tell the story (though attendance was an event record at 430). Rather, it was the intensity of energy through the entire day that could only impress one about this somewhat quiet, and definitely underrated, sector of Minnesota’s economy.
I was there for at least 12 hours of the event — yes, it went on that long, and no one was complaining — and I can surely say that even the most skeptical of attendees who sacrificed part of their spring weekend were impressed with what they experienced, and left beaming with an elevated sense of pride in the industry they’re a part of. One needs only to scan the voluminous talk that went on in real-time — thanks to the magic of Twitter, and all archived here — to see that something big was happening in the Gopher state on this rainy fishing-opener Saturday. (In fact, Minnebar was ranked during the day as one of the top-five conversations going on in the entire, global “Twitterverse.”) Read more
‘Minnebar’ Becoming Top Event for State’s Internet/Software Developers and Entrepreneurs
An annual Minnesota event, playfully named Minnebar — which grew out of a grass-roots tech industry initiative called Barcamp — is happening for the third year in a row here in the Twin Cities this coming Saturday, May 10, at the U of M’s Coffman Union.
By 8:00 am, somewhere between 300 and 400 software developers, startup founders (and hopefuls), web designers, interactive marketers, local media reporters, angels, VCs, and other investors will start converging in one place as they seldom do in any venue in these parts, at any other time throughout the year.
They come to talk shop, learn, share tips, listen to presentations on the latest tech developments and tools, share war stories, listen to startup pitches, and (of course) take notes, blog, and Twitter about all the proceedings on the laptops and smart phones they never seem to have far from their sides. Read more
The Latest on U of M Technology Innovation and Commercialization
The University of Minnesota is among the top patent producers in the world, ranking #4 on Scientist Magazine’s list of “Patent Powerhouses,” behind only three other major American universities. Yet, quantity of patents hardly paints the entire picture. What about helping to start up companies to commercialize those patents?
According to the U’s own business development people (see link to Powerpoint presentation at bottom), the 20-year success record of the U’s technology company spinoffs is only half the university average nationally — and less than one-fourth the success record of the nation’s premier schools. What’s more, in one recent year (2004), for example, the U of MN spun off only one company compared to 14 at the University of Michigan and 16 at the University of Illinois. Why I am focusing here on spinoffs? Well, because, according the U’s own business development people, creating university spinoffs is “much more profitable than licensing (revenues)” to the school. Read more
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The "Minnov8 Gang" Podcast
