Minnov8

Showcasing Minnesota Technology Innovation

Scalable B2B Platform through Rocware

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The Minnesota-based SaaS company Rocware has recently released an enhanced B2B platform offering, which allows businesses to create, connect, and intuitively maintain their expansive online product catalogs. This platform allows businesses to seamlessly connect to existing and prospective customers through private invitation, technology features found in traditional social media.

This interconnectivity creates an instant conduit for information, which allows businesses to rapidly share updated product images, descriptions, customer specific pricing, purchase order details, and more all in a secured environment. Perhaps more interestingly, these small and midsized businesses can easily exchange messages and fully engage in purchase order and invoice transactions between businesses, without EDI.

The three-member team behind Rocware brings a unique combination of personal experience running product-based businesses, the vision and technical expertise to build a novel solution, and the business knowledge necessary to bring this solution to market. Together their talents represent a complimentary skillset at Rocware. …  [Read More…]

DEMO: Me & My Money

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Our buddy, Graeme Thickins, is once again live-blogging from DEMO Fall. He seems to cover everything and is the best liveblogger I’ve ever followed, mainly because he is so diligent about placing links within his liveblog as well as within his tweets so it’s easy to go see what and whom he’s talking about in his info.

One he made certain to focus on is a new Minnesota-based offering that includes a guy who also gave us a heads-up on their DEMO debut: serial entrepreneur, Alex Huff, who is with this new Minneapolis headquartered startup as Chief Technology Officer. Me&MyMoney launched this week at DEMO and it promises to let you live the life you want and have money left over.

As many of us know when it comes to launching a startup, timing is everything. Borne in a time of incredible global economic flux and uncertainty, Me&MyMoney is certain to get attention, especially when the U.S. Census Bureau releases data like this that, “…in 2010, median household income declined, the poverty rate increased and the percentage without health insurance coverage was not statistically different from the previous year.”

Alongside that historical data is an ongoing bleak jobs outlook, fears of a double-dip recession and deep concerns about the future of Medicare, Medicaid and Social Security. As such, there is NO question that the masses are ready for a tool they can use to get a handle on where they are financially, where they’re headed, how to get out (and stay out) of debt, and to ensure they have money around in their old age (even more important now that we’re all living longer as well). Me&MyMoney couldn’t ask for more perfect timing, but there’s no question getting the word out and building buzz will be the key to adoption and gaining traction with the millions of potential users for their web application.

In their press release they succinctly lay out their value proposition which is, “Me&MyMoney is not another budgeting tool – it is a transformational approach to forecast where your money and your life are going. It uses diverse data sources, proprietary algorithms, and an easy-to-use web application to give members real, instant insight into their money. Those insights will allow them to create, understand, and execute a projection of their money throughout their lifetime.”

Read the full release after the jump (click “more…”) and then check ’em out…

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Interview of startup QONQR (MN Cup Runner-Up, High Tech Division)

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QONQR started as the winner of the first Twin Cities Startup Weekend in September 2010, a competition in which teams have 48 hours to build a prototype and pitch their business. Since then, QONQR has been accepted into the Demo Track of MidVenturesLAUNCH in Chicago and was a finalist in the Entertainment Category of the 2011 SXSW Accelerator, competing against Hall of Fame Game Designer, Lord British!

QONQR is the first in a line of geosocial games from the Minnesota-based company of the same name. The six QONQR team-members have been working together for years. In addition to being friends, and passionate gamers, they are experienced designers, deelopers, and entrepreneurs.

I interview Justin Peck and Andy Pickett from QONQR, the Minnesota Cup competition High Tech Division Runner-Up, at the final awards event on September 8th:

Predicting Human Behavior through Games

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Every week, people from around the world spend more than 3 billion hours playing video games. Professor Jaideep Srivastava of the University of Minnesota and Professor Dmitri Williams at the University of Southern California find this number too large to ignore. Their software company Ninja Metrics relies on social analytics to make sense of human behavioral data from these games.

Their startup coincides with a rising trend in game play and specifically an explosion in online games. Further, promotional forces like Dr. Jane McGonigal, an influential author and occasionally controversial visionary from U.C. Berkley believes that games can solve real-world problems through increasing the amount of time spent playing games to 21 billion hours per week by 2020. There is little doubt that gaming will continue to be an extremely important global activity.

The introduction of platforms like the Nintendo Wii, the Apple iPad, and the Sifteo Cubes has opened up a variety of new options for games. The social-gaming company Zynga has been steadily building innovative games delivered over social networking platforms like Facebook. The MIT Technology Review reported last week that Zynga is planning to produce a drastically more complex, strategic, and socially interactive gave than ever before. In a TechCrunch article last year, it was estimated that half of all Facebook users play games and that 40% of the time spent on Facebook is devoted to social games like those developed by Zynga. Clearly, there is an extensive amount of activity and data being generated through these evolving social interactions in massively multiplayer online games (MMO). …  [Read More…]

More Fuel for NGIN

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TST Media, the creators of the NGIN software platform has scored a round of financing led by El Dorado Ventures. When the ink dried on the agreement last week TST had secured $3.5 million to “grow existing business partnerships, drive software innovations and expand their talent base.”

TST Media CEO and co-founder, Justin Kaufenberg noted the fundraising as “transformational”. He notes that “To a degree, prior growth has been consciously checked in favor of reinvesting in our technology core…that patience and focus has set the stage for us to efficiently deploy these proceeds and exponentially enhance a proven platform and business strategy” In plain speak…TST has got plenty of fuel to power growth to the next level.

That point is further driven home as Kaufenberg commented on El Dorado Ventures. “As a venture partner, El Dorado brings an impressive track record of successfully aiding and nurturing the rapid growth of innovative technology companies.” With TST boasting 100% growth over the past three years and some 200 clients in 50 states and six different countries, Jeff Hinck of El Dorado was happy to note, “In TST Media, we found a company with a best-in-class technology platform. Unlike other players in the space, their NGIN platform has been architected for extendibility and growth.”

Also providing fuel for the local job market, TST Media will be adding more than 20 new positions this year including Software Engineers, UI/UX Designers, Development Operations, Project Managers, Technical Support and Sales.

Local start-up growth, more jobs, a growing platform. Light this candle!

At the Crossroads Neandertals Hooked Up With Us

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Neandertal man image created from a discovered skull

If you’ve paid any attention to the acceleration in human and animal genomics research, the revelations and scientific discoveries are amazing. As someone who has had his DNA analyzed at 23andMe (whose co-founder Anne Wojcicki is married to Google co-founder Sergey Brin), I can tell you first-hand about the absolutely delightful discoveries I’ve made about my own DNA, its implications, how I’m connected geographically to other humans, and that it’s unlikely I’ll ever run a 4 minute mile (that last one is just my conjecture!).

Lynn Fellman

The most recent profound discovery was the identification of Neandertal DNA in modern humans! From reading the articles which have come out this month, it appears that modern humans heading out of Africa “co-mingled” with Neandertals in Eurasia and now humans with “1-4%” Neandertal DNA have been identified.

Fortunately we have an independent artist bridging science and the humanities through art and narrative right here in our midst in Minneapolis, Lynn Fellman, who does a beautiful job communicating what has taken place and its implications.

Give it a view and then head on over to her website. Sometimes the science of DNA can get pretty esoteric and boring. Having someone like Lynn—a woman who is steeped in the science but can see and interpret the beauty within it—deliver some of THE most beautiful interpretations of any science-related discipline I’ve ever been interested in is incredibly pleasing and useful. What I didn’t realize, until I saw this video, is how effectively (and beautifully with her own visuals) she can communicate an incredibly complex topic.

(As an aside, NPR’s Science Friday host, Ira Flatow, is a big fan of Lynn’s work and she’s been on the show. You can check one out in her “Stories/Podcasts” section of her website here).

The American Association for the Advancement of Science (AAAS) commissioned Lynn to develop this presentation for their AAAS Member Central web site:

Workface Lands $900k in Venture Capital

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We were delighted to see that friend of Minnov8, Lief Larson and crew, have landed $900k to accelerate their vision of delivering a platform to maximize sales force and customer service engagement for organizations.

The Gang has used Workface’ profiles since the beginning and have watched this startup closely as they’ve continued to execute on their vision.

From their press release:

More than 75,000 professionals and over 2,500 different companies are now using Workface technology to enable their sales and customer service staffs to engage with prospects and customers online and in real time.

“Our ‘profile’ technology helps companies shorten sales cycles, connect with prospects at the moment of interest, and increase the level of engagement and intimacy with customers,” said Lief Larson, Workface founder and CEO. “This new round of capital will help us grow revenue from existing customers, add new customers and focus on several key platform enhancements.”

Congrats Lief and crew! See the full press release below…

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Minnesota Cup Honors ‘High Quality’ Crop of Semifinalists

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I stopped into a reception held last evening at the U of M’s Carlson School for this year’s group of semifinalists in the annual Minnesota Cup.  It’s the seventh year of this business plan competition, which has gained broad support from our business community.  I had a chance to interview cofounder Scott Litman, who talked about this year’s applicants and the process the semifinalists would now be going through as the competition continues.

After an opening reception in the atrium, a series of speakers and presentations followed in an adjoining auditorium. The main focus of these talks was to inform and instruct the 47 semifinalist teams (across six categories, called “divisions”) about how they can best prepare for the ongoing judging.  That includes the opportunity for each these startups to work with their choice of “Mentors” chosen by the Minnesota Cup and the Carlson School (a major sponsor).  A list of 47 such mentors, with their bios, was handed out, and John Stavig of the Carlson School is coordinating the choice of mentors by the semifinalists.  Most all the mentors are graduates of the U of M, the majority with degrees from the Carlson School, and they represent a wealth of business-building experience.

What’s next for the Minnesota Cup semifinalists?  Here’s what we learned last evening about the upcoming schedule:

• Each semifinalist submits a 20-page business plan by midnight July 22nd.

• The division finalists are announced on August 19th

• The division finalists present and winners are selected on Augusts 30th

• The division winners present to the Grand Prize Review Board the afternoon of September 8th

• The Minnesota Cup awards event is held the evening of September 8th at the U’s McNamara Alumni Center

Congratulations and good luck to all the semifinalists! And thanks to the many sponsors and partners of the Minnesota Cup, as well as to Scott and his cofounder, Dan Mallin, for helping another great crop of our state’s startups go through their excellent program.  I really believe all the entrants (1000+ this year) are winners, because they get an opportunity to learn so much from the process. Go, Minnesota startups!

Project Skyway Boot-Camp Weekend…Wow!

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Project Skyway Boot-Camp weekend was held this past weekend (June 10-12) at CoCoMSP’s downtown St. Paul location.  Curt Prins was one of the mentor/judges and asked me to join him in the sales and marketing group for the roundtable sessions. I must say I came away with an even deeper appreciation for the talent, energy and enthusiasm in the startup community here (and there were several from out of State too) as well as the incubator that is Project Skyway.

If you don’t know Project Skyway, it is, “…Minnesota’s first tech accelerator program for motivated entrepreneurs. The program will build connections among entrepreneurs, mentors, investors, and other innovation hubs, and bring them together both online and in physical space. The vision places emphasis on building companies with long-term, sustainable value, ethical practices, mentorship, and strong networks.”

The Project Skyway founder, Cem Erdem, set up this weekend adventure to enable startups to be involved in multiple sessions and venues for learning, honing their value propositions, and learning from one another. Clearly it also would provide investors with those value propositions ready to grow and would separate the “separate the wheat from the chaff“.

I met all the finalists invited in for the weekend and many of them blew me away with the maturity of their vision and beginnings of executing on their value proposition. As a “judge”, I was asked to rank the top ten and it was probably the toughest force ranking I’ve done yet. Too many good ones!

If you have any doubt or concern that innovation is dead in this time of economic uncertainty, a few hours with this group of folks would wipe that right out of your mind.

Minnesota Cup Semi-Finalists Announced

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The Minnesota Cup announced their nearly 50 semi-finalists today!

These semi-finalists were selected and announced this morning out of more than 1,000 aspiring entrepreneurs who participated in the 2011 competition. Judging the first round entries was challenging as the overall quality of entries was excellent. 47 of the best and most innovative business ideas will now compete in the second round of the contest. Congratulations to all semi-finalists and good luck in the next round of the competition!

More than 1,000 aspiring entrepreneurs participated and 47 (plus 4 finalists from the Social Entrepreneur division) of the best and most innovative business ideas will now compete in the second round of the contest. Congratulations to all semifinalists and good luck in the next round of the competition!

High Tech Division

The full press release is after the jump…

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