Entrepreneurship : Buzz
The Minneapolis landscape architecture firm Coen + Partners was recently award the 16th Annual National Design Award in Landscape Architecture from the Smithsonian's Design Museum, Cooper Hewitt.
“With the reopening of the museum this past year, Cooper Hewitt is scaling new heights to educate, inspire and empower our community through design,” said Caroline Baumann, director, in a press release. “I am thrilled and honored to welcome this year’s class of National Design Award winners, all of whom represent the pinnacle of innovation in their field, with their focus on collaboration, social and environmental responsibility, and the fusion of technology and craftsmanship.”
First launched at the White House in 2000 as a project of the White House Millennium Council, the National Design Awards were established to promote design as a vital humanistic tool in shaping the world. The awards are accompanied each year by National Design Week, which this year will take place Oct. 10–18 and include a variety of public education programs, panel discussions and workshops. First Lady Michelle Obama serves as the Honorary Patron for this year’s National Design Awards.
Founded by Shane Coen in 1991, Coen + Partners works through a process of collaboration, experimentation, and questioning, to embrace the complexities of each site with quiet clarity and ecological integrity. The practice has built a distinguished body of award-winning work that is widely recognized as progressive and timeless, receiving numerous awards for landscape architecture, planning, and urban design. Coen + Partners has been recognized by the AIA, the ASLA, the GSA Design Excellence Program, and the editorial staff of such influential publications as Metropolis, Dwell, and Architectural Record. New York Times architectural critic Anne Raver has described Coen + Partners’ work as “pushing Midwestern boundaries.”
“Team OptiMN,” a group of 14 undergraduate and grad students at the University of Minnesota with diverse majors (including building science, sustainable design, construction management and business), was the Grand Award Winner of The Department of Energy’s second annual "Race to Zero" Student Design Competition. The team won for its design of the OptiMN Impact Home in North Minneapolis.
Teams competing in the “Race to Zero” challenge were asked to design cost-effective zero-energy-ready homes for mainstream builders, according to a press release announcing the award, adding that, "The winning design uses high-performance features that sharply reduce energy use, and allow for most of the remaining energy use to be offset with renewable energy." The contest is sponsored by the U.S. Department of Energy (DOE). This year, the competition involved 33 teams from 27 universities in the U.S., Canada and China. "Along with energy-efficiency, the designed homes must be comfortable and attractive as well as affordable," the release stated.
Green Homes North, one of team OptiMN's partners, plans on building 100 energy-efficient homes in North Minneapolis in the next five years. Team OptiMN made sure the home followed their guidelines. The team also partnered with Urban Homeworks to design a high performance, affordable, flexible home. Residential Science Resources was the team's energy rater partner.
Team OptiMN’s design goals centered around meeting: the DOE’s challenge to build a zero energy ready home; Urban Homework’s mission to produce equitable, dignified communities; and Green Homes North Initiative to revitalize North Minneapolis neighborhoods with affordable, sustainable and quality homes.
Wednesday, October 15, 2014
Minneapolis-St. Paul was recently named one of the top 10 innovative cities in the U.S. by CNN Money.
"From technology and infrastructure, to job creation and sustainability," the article stated, the cities included are "leading the pack when it comes to creatively solving urban issues."
About MSP, the article stated, "June saw the opening of a new light rail line between Minneapolis and St. Paul. Experts from around the country praised it as an example of transportation infrastructure done right -- it integrated the needs of the affected communities and used the new line to drive economic development."
The Twin Cities were also selected as "early adopters of programs to help immigrants start businesses, artists buy real estate, and enlist local execs in solving community problems. The Cities also get high marks for their public health efforts, including smoking cessation programs, cancer screening and efforts to create walkable communities."
Wednesday, January 22, 2014
Included in Food & Wine's 2014 list of "Best Gastropubs in the U.S." are Pat's Tap and Pig & Fiddle. "Whether they take a heavy cue from British tradition or hew more to modern American style, these top-notch pubs all have two things in common: exceptional meals and beers to match," a description accompanying the slideshow states.
Source: Food & Wine
Wednesday, December 11, 2013
This year, Minneapolis author Louise Erdrich was recognized with an American Book Award for her 14th novel, The Round House.
Erdrich’s novel, set on an American Indian reservation, tells of a teenage boy’s struggle in the aftermath of an attack on his mother.
The American Book Awards “celebrates the diversity of the country’s literature,” according to an article in the Star Tribune. The awards were established in 1980 by the Before Columbus Foundation, a nonprofit organization, founded by author-poet-playwright Ishmael Reed, that promotes multicultural literature.
A ceremony for the 34 authors who received awards took place at the Miami Book Fair International last month. Erdrich is also the owner of Birchbark Books, an independent bookstore in Minneapolis.
The awards don’t involve a cash award or individual competitive categories, the story adds.
Source: Star Tribune
Wednesday, October 23, 2013
Investors.com recently reported on what some people describe as a “tech startup boom” in Minneapolis.
In three years, Coco Coworking, which now has three Twin Cities coworking spaces where entrepreneurs can share resources and ideas, has grown to include 700 members, most of which are tech startups, the story states.
CoCo has hosted over 4,000 people through its regular meet-ups just this year, according to the story.
The nonprofit Minnestar, which is also dedicated to cultivating the local tech scene, has seen an increase of over 40 percent in attendance at its MinneDemo events since 2010.
The story goes on to cite other examples of tech activity in the state. Jeff Pesek, co-founder of the Minneapolis-based website, tech.mn, which tracks the local tech scene, is quoted, saying, “There is a lot of activity here, a lot of signs that the market is evolving and blossoming.”
Source: Investors.com
As the popularity of the Minnesota Cup demonstrates, innovation challenges are becoming a definite trend, and now Target is getting into the mix.
As reported by MedCity News and other news outlets, the company recently announced two contests aimed at boosting innovation in healthcare.
The Target Simplicity Challenge will reward the creators of the winning ideas $25,000 apiece, and offer them the chance to partner with Target on developing the concepts. One contest will focus on solutions that help people make positive lifestyle and preventative care choices, while the other will focus on helping people live well with chronic conditions.
MedCity News notes that Target wants small, simple ideas that can substantively solve problems outlined in the contest. The company announced the challenges at the Mayo Clinic Transform Symposium.
Food magazine Bon Appétit recently released its "Top 50 New Restaurants" list, and two Minneapolis eateries made the cut: World Street Kitchen and Borough.
Singled out for its cheese-grater light fixtures and mismatched flatware, Borough in the North Loop neighborhood got a nod for bringing together chefs from Travail for an eclectic menu. The magazine advised readers to opt for the cauliflower with pickled chilies and tempura-style oysters.
World Street Kitchen, near Uptown, was highlighted for its industrial look and casual style, matched with "straight-up fantastic international street food." Diners should go for the knockout rice bowls, burritos, and affordable prices.
Although neither restaurant made the magazine's subsequent Top 10 list, there were still plenty of raves for each eatery's signature dishes.
IHRSA Wednesday, July 17, 2013
For the sixth year, Hastings-based Anytime Fitness has nabbed the title of "world's fastest-growing fitness club" from The International Health, Racquet, and Sportsclub Association (IHRSA), an industry trade group.
The designation is based on the number of locations that Anytime Fitness added within the past year, as well as other factors like revenue and membership numbers.
The fitness behemoth opened 260 new locations in 2012, bringing its total to 2,035 clubs. It came in second in the IHRSA report for revenue growth, posting $484 million in 2012, a 33 percent increase over the previous year. The club was third on the list for number of members, reporting 1.5 million in 2012, coming in behind massive 24 Hour Fitness with 3.8 million members and Curves International, with 2 million members.
IHRSA President and CEO Joe Moore noted in a statement that the growth of Anytime Fitness indicates strong demand from consumers for "companies that meet their expectations."
Minneapolis landed at the no. 10 spot on Apartments.com's annual list of "Top 10 Best Cities for Recent College Graduates."
Now in its sixth year, the list examines 100 U.S. cities and determines rankings based on apartment availability, affordability, unemployment rates, median income, and the percentage of single people between the ages of 25 and 29.
According to the report, Minneapolis has a high number of people falling within that age range, as well as a low unemployment rate.
The average rent for a one-bedroom apartment is just over $1,000, the report noted, which lands within the affordability range for recent college grads.
At the top of the list is Phoenix, with $708 as average rent for a one-bedroom apartment, and coming in at second and third place were Orlando and San Antonio.
Popular local food trucks Chef Shack and Vellee Deli appeared on a recent list of the country's top food trucks, in a ranking dished up by food website The Daily Meal.
Chef Shack, a fixture on the food truck scene here and one of the first to kick off the trend, nabbed the no. 10 spot on the list while fusion cuisine purveyor Vellee Deli came in at no. 84.
The website looked at over 450 trucks from over 40 cities, and came up with the list by considering Twitter and Facebook popularity, as well as innovative menus, originality, and online reviews.
In singling out Chef Shack, the site noted that ingredients are organic when possible, and from family farms and co-ops in Minnesota and Wisconsin. Vellee Deli, meanwhile, won a spot for its blend of Asian and Mexican dishes.
Minneapolis ranked third in a recent study that looked at which cities in the country are most appealing for those who work for small businesses.
Coming in behind Denver and Boston, Minneapolis has the least amount of job competition among the 30 cities considered by the study's developer, a credit card research site called Card Hub.
Cities were ranked based on job growth, average monthly earnings for new hires, cost of living in the area, average unemployment rate, and other factors.
Companies with fewer than 50 employees comprise about half of the Minneapolis Chamber of Commerce's membership, the study noted, and "its workforce spends relatively little time on the job...the city ranks in the top 10 nationally in terms of small business vitality, industry variety, and stress."
Intuit Wednesday, June 12, 2013
Recently, Intuit put together a list of the top U.S. cities for female entrepreneurs. By its calculations, Minneapolis comes in fourth place. San Francisco tops the list. It's followed by Seattle and Washington D.C., in second and third place.
In a blog post about its results, Inuit underscores that while more women are enrolled in higher education, “they still struggle to find their place in many career fields, including business and entrepreneurship.”
At the same time, a study shows that 81 percent of female entrepreneurs are “showing optimism about their business ventures,” it states.
To come up with its rankings, Intuit looked at median education levels, unemployment rates, income, population, and the percentage of women-owned businesses for 48 cities across the country.
At least 24 Minnesota tech ventures raised in excess of $28 million in the first quarter of the year, according to a report from local technology site TECHdotMN.
Analyzing data from January 1 to March 31, the site compiled data from multiple sources, and noted that actual numbers are estimated to be at least 20 percent higher, based on information from investors who couldn't disclose their investment activity publicly.
In comparison, 24 companies in the same quarter last year raised $58.6 million, and while this might seem like this year is a decline in tech venture funding, last year's total was skewed by a single deal for Code 42 Software worth $52.5 million. When that deal is removed from consideration, it shows a significant rise in funding overall for tech in the state.
Personal finance website NerdWallet celebrated May's designation as Small Business Month with a report on "Best Cities to Start a Business," and Minneapolis landed on its list of top 10 cities in the nation.
Coming in at number eight, Minneapolis was lauded for strength in healthcare, manufacturing, and financial services, and was called "a growing hotspot for startups and small businesses."
The city has a very low unemployment rate of 6.3 percent, the article noted, and a highly educated population. Minneapolis business resources got a nod, including technology group MHTA, nonprofit community development association MCCD, and technical assistance groups funded by the city.
The site calculated the results based on ease of obtaining funding, business-friendly resources, local economic indicators, hiring, and affordable living. The top three cities, according to NerdWallet, are Atlanta, Raleigh, and Austin.
Online service Thumbtack.com, in partnership with the entrepreneurship organization Kauffman Foundation, conducted its second annual study about business friendliness, compiling survey results from over 7,000 small business owners throughout the United States.
Minnesota received a grade of "A-" in the study, showing marked improvement over its "B" grade in 2012. Survey respondents gave high grades to the ease of starting a business in the state and overall friendliness. Zoning and training programs both received lower scores of "B-."
In terms of areas for improvement, the state's small business owners gave the state a "D+" for ease of hiring and a "C+" for regulatory issues like health and safety and the tax code.
The site also includes some comments from survey respondents, highlighting both advantages and challenges for small businesses in the state. For example, the owner of a moving company in St. Paul complained that "workman's comp in Minnesota is extremely brutal," while an entrepreneur in Cottage Grove noted: "This is a great place to start a business."
Personal finance and small business site NerdWallet recently released a ranking of "Top Ten Cities for Women Entrepreneurs" and Minneapolis came in at 4th place, after San Francisco, Seattle, and Washington, D.C.
"Minneapolis has the dual benefits of having a very low unemployment rate and an educated workforce," the article noted. "Additionally, women own almost a third of businesses in Minneapolis."
NerdWallet continued with a mention of the quarterly networking events held at Women Entrepreneurs of Minnesota, an organization that promotes connections among female executives in the state.
Also garnering a nod was the National Association of Women Business Owners of Minnesota, a very active organization that provides networking and other events. Nearby St. Paul got a shout-out as well, for WomenVenture, which offers loans and transitional career services to female entrepreneurs.
Other cities that landed on the list include Portland, Atlanta, Denver, and San Diego.
Forbes Wednesday, February 13, 2013
Business magazine Forbes released its annual list of "America's Most Promising Companies," and two Minnesota businesses got nods.
Hastings-based Anytime Fitness ranked 14th on the list of 100. Forbes noted that the company's steady growth and high sales were notable, as is the franchise model's numerous locations.
Code 42 Software, based in Minneapolis, came in at 53rd on the list. The company creates cloud-based backup systems for consumers and companies, and notable clients include Google and Apple, Forbes noted.
Companies were ranked based on factors like market size, key partnerships, quality of management team, presence of investors, and demonstrated growth. The magazine considered Florida-based mobile platform developer 3Cinteractive the most promising company in the country.
MedCity News, an online publication focusing on medical innovation, recently singled out Minneapolis-based Clear.MD for its distinctive technology platform.
The article noted that about 35 percent of U.S. adults have gone online to diagnose a medical issue, and that Clear.MD is one of two interesting startups trying to help consumers break the "online diagnosis" habit.
The company has developed a tech platform that doctors can use to create short videos about various health topics. Clear.MD also offers a tool that users can use to find doctors close to them geographically.
With the system, patients get accurate information about a disease, a surgical procedure, or symptoms, the article states, while doctors can "rest easy knowing that patients can go home and access videos with instructions for postsurgery, for instance."
The craft beer trend has boosted the number of beer-focused bars across the country, creating a boom in the number of small-batch distilleries and avid fans.
Beer-centric magazine DRAFT put together a list of the top 100 beer bars in the country, and two Twin Cities bars were featured in the Midwest region: Happy Gnome in St. Paul and Republic with locations in 7 Corners and Calhoun Square.
The publication noted that Happy Gnome was chosen for its congenial vibe, large stone hearth, and wooden booths, not to mention a beer list with over 75 taps.
Republic's West Bank pub got a nod for its 50 taps, and wide range of local beers, including Harriet Brewing and Steel Toe Brewing.
Business Insider, a site covering finance, strategy, tech, and other topics, recognized CoCo as one of 17 "coolest co-working spaces in America."
The site focused on CoCo's Minneapolis space, housed on the historic trading floor of the Minneapolis Grain Exchange. The space's 20,000 square feet, unique meeting rooms, and game rooms all garnered praise, as well as CoCo's in-room beverage service and catering options.
Other co-working spaces that got a nod for coolness include Citizen Space in California, CoLab in Nashville and Orlando, The Coop in Chicago, and Jellyfish Cartel in Los Angeles.
The Minnesota Office of the Secretary of State reported that new business filings in 2012 represented an 18 percent increase over the previous year, and constituted the second highest number of new filings in the state's history.
Over 60,000 new businesses were filed last year. As noted by Twin Cities Business, the record was set in 2009, when the state had over 63,000 new filings. However, that increase is largely attributed to a shift in filing practices implemented by the Minnesota Department of Commerce.
"New business filings reflect Minnesota's great business climate," said Secretary Mark Ritchie in a statement. "As our economy continues to improve in 2013, new business filings will remain strong."
The Federal Reserve Bank of Minneapolis brought some economic sunshine to January, forecasting strong growth for the Midwest in the coming year.
The most growth is expected in North Dakota, where oil drilling continues to drive prosperity. But other states will see some robust activity as well, the Fed predicts.
The housing sector is showing signs of recovery and despite drought in many areas, agriculture is holding steady. Although there are some concerns lingering over national fiscal issues and governmental wrangles, personal income and employment are expected to grow in 2013, according to the Fed. That could drive more consumer spending.
The Fed's forecasting models show that employment will grow moderately in 2013, with stronger growth in North Dakota and Minnesota.
ClickZ Wednesday, December 12, 2012
Minneapolis-based Blu Dot, purveyor of modern furniture, created a Twitter-based contest that had participants scrambling for virtual seats.
Based on the children's game of musical chairs, the promotion rewarded participants for Tweeting a specific phrase that appeared on the company's microsite during a specified time. Up-and-coming band Doppio played a tune and when the music stopped, the Tweeting began.
Over a period of 10 days, the number of "spots" dwindled until one winner got a real-world chair as a prize.
As reported by online marketing publication ClickZ, the game was developed by local creative agency mono, and significantly boosted Blu Dot's number of Twitter followers.
,Minnesota's startups had a strong third quarter, according to a recent report from the Minneapolis St. Paul Business Journal. The publication noted that venture capital investment in the state showed a rebound over previous quarters, with med-tech firms leading the surge.
Companies that raised large rounds include Segetis Inc., a firm specializing in sustainable chemistry solutions, and Torax Medical Inc., a medical technology company focused on treatments for digestive, incontinence, and obesity disorders.
One down note in an otherwise sunny report: $20 million of the third quarter revenue was raised by Mainstay Medical Inc., a device firm that plans to move out of the Twin Cities. Since its funding was provided by an Irish venture capital firm, the company will be relocating to Dublin.
Forbes Wednesday, July 18, 2012
Business magazine Forbes released its annual "Best Places for Business and Careers" list, and the Minneapolis/St Paul metro area came in at 22nd place among the nation's 200 largest metros.
Although that might seem like a low ranking, given the many "Top 10" lists that the Twin Cities makes, it's actually a boost over last year, when the area came in at 34th, and a huge jump over 2010, when the Twin Cities ranked 57th.
As the list notes, our metro area struggles with cost of business issues and job growth, but benefits from strong education and a lower cost of living than many other areas.
Three Twin Cities companies have made Fortune's "Inner City 100" list of the fastest-growing urban firms in the nation.
The magazine singled out data infrastructure provider Atomic Data, bike-rack design firm Dero, and IT consultancy On-Demand Group (see The Line's coverage of On-Demand
here).
The fastest-growing inner-city company in the nation, according to Fortune, is Coyote Logistics, a Chicago-based transportation firm.
Companies were ranked by compound annual growth rate based on their revenue over a five-year period between 2006 and 2010. The survey was part of the Initiative for a Competitive Inner City, a project designed to examine urban economies and spur economic development in cities.
The Orange County Register in California recently reported on a survey from temp firm Ajilon Professional Hiring, which looked at the best places in the country for finding a job.
The firm named Minneapolis-St. Paul as the top spot for job hunters, based on factors like unemployment rate, diversity of industries, cost of living, level of higher education, and the range in size of companies offering jobs.
Ajilon noted that the Twin Cities topped the list mainly because hiring is on the rise among its large industry players in sectors like financial services, health care, retail, and manufacturing. The area is also family-friendly, with low crime and poverty rates, the article noted.
Traditional crutches can be cumbersome, difficult to use, and downright painful. That was the experience of Minneapolis-based designer Jeff Weber after he had to hobble around with a broken heel.
He was determined to create a better option, and came up with Mobilegs, a plastic and aluminum crutch that recently won the medical and scientific category award in the Society of the Plastics Industry's design competition.
The product was covered in a recent issue of Plastics News, which included quotes from the award's judges. One industrial design judge joked: "You almost can't wait to hurt your ankle just so you can use it."
First came the
James Beard Award nominees, and now comes Food & Wine magazine's competition for "Best New Chef." It's official: the Twin Cities are a gourmet paradise.
The magazine divided the country into 10 regions, and chose 10 restaurants from each. Four Minnesota chefs are on the list for the Midwest region.
The contenders are Sameh Wadi from Saffron Restaurant in Minneapolis, Landon Schoenfeld from HauteDish in Minneapolis, and Mike Brown and James Winberg, both from Travail Kitchen & Amusements in Robbinsdale.
Readers were asked to choose their favorites by voting on the magazine's website, and winners will be announced soon.
Midwest health care companies attracted $810 million in new investment, and Minnesota led the way, according to the BioEnterprise Midwest Health Care Venture Investment Report.
The report noted that Minnesota attracted $223 million in investments, followed by Ohio with $178 million and Missouri with $169 million. Tracking deals for 11 states and western Pennsylvania, BioEnterprise looked at investments in fields like health care services, biopharmaceuticals, and medical device manufacturing.
The state's largest deal last year was Entellus Medical, which raised $35 million to develop technology related to sinusitis.
QSR Wednesday, January 25, 2012
Restaurant industry magazine QSR ranked the Twin Cities in the top 10 in its annual "Growth 40" listings.
The list ranks metro areas that are best positioned for more restaurants, particularly those in the quick-service category. The article notes that Minneapolis saw a 25 percent change in spending at these types of restaurants within the past 10 years.
Topping the list were Orlando, Seattle, and Portland, which all had similar numbers in terms of spending increases at quick-service restaurants.
One major contributor to more growth may be the introduction of Chick-fil-A to the area. The Minneapolis/St. Paul Business Journal reported last year that the fast-food chain is looking toward the Twin Cities for future expansion, and has started to scout for locations for next year.
Vending machine industry publication Vending Times profiled two Minneapolis entrepreneurs who are boosting the robust local biking scene. The pair, Chad DeBaker and Alex Anderson, have launched Bike Fixtation, which combines a large vending machine with a standalone bike repair rack.
The machine vends bicycle repair products such as tubes, lights, tools, and patch kits, as well as refreshments like energy bars and water bottles.
The article notes that the bicycle service stand allows patrons to perform repairs at the site, and includes an assortment of tools like Allen hex keys and wrenches.
DeBaker says in the feature that the company sees the potential for expansion to college campuses, bike trails, and any public location that attracts bicycle ridership.
A recent Talking Tech column in USA Today highlighted the beneficial climate for tech startups in the Twin Cities.
The newspaper's columnist visited CoCo, the shared workspace with locations in St. Paul and Minneapolis, and talked with entrepreneurs at companies like Mobiata and QONQR.
The article also included comments from a tech analyst based in Minneapolis who noted that the Twin Cities are giving Chicago and other tech areas a good amount of competition. As driving factors, he nodded toward the schools, people, big companies, and history of innovative thinking in the local area.
Lead411 Wednesday, November 09, 2011
Technology site Lead411 has released its annual survey of the top 200 tech companies in the nation, and five Minnesota companies made the list.
Ranked sixth on the list is Minneapolis-based Code 42 Software, a development company that produces onsite, offsite, and cloud backup applications for consumers and enterprises.
The other four companies are iBuyOfficeSupply.com, MSpace, The Nerdery, and CaringBridge.
The Tech 200 is based on revenue percentage growth from 2008 to 2010, and companies had to be privately-held U.S. businesses that earned more than $1 million in the past year.
Wisconsin Rapids Daily Tribune recently highlighted the benefits of CaringBridge, a free website based in Eagan that allows families to keep journals online about themselves or loved ones who are going through treatment for serious illnesses.
The newspaper spotlighted the story of a Milwaukee family that used the site to keep friends and family updated on care for a baby born with hypoplastic left heart syndrome. The child's mother noted that she used CaringBridge to give hourly updates during surgeries, to avoid multiple phone calls during an already stressful time.
CaringBridge was founded in 1997 after a close friend of the founder, Sona Mehring, developed a life-threatening pregnancy. Mehring created the website to help the family communicate news without disturbing the mother or hospital staff members. Currently, more than half a million people use the site every day.
The Better Business Bureau (BBB) of Minnesota and North Dakota has announced this year's finalists for the BBB Integrity awards, which will be presented on Oct. 24th at the Guthrie Theater.
The BBB presents the award every year to companies that "exemplify ethical behavior and display integrity in all aspects for their operations; toward their employees, vendors, customers, and within their community," according to the organization's recent press release.
Companies compete in different categories based on number of employees. In Category One, with one to 10 employees, finalists are Kamarron Design in Minneapolis, Boy's Electric in Eden Prairie, dentist Mark Finney in New Brighton, and Seraphim Communications in St. Paul.
In the other two categories, finalists include North Star Resource Group in Minneapolis and Latuff Brothers Auto Body in St. Paul.
Eight Minnesota companies have landed on America’s Fastest Growing Private Companies, a list put together by Inc. Magazine.
Among the top performers highlighted are MetroSpec Technologies in Mendota Heights, Jobs2web in Minnetonka, iBuyOfficeSupply.com in Plymouth, and BulkReefSupply.com in Golden Valley.
The companies were listed according to a three-year growth rate. For example, BulkReefSupply.com, an online retailer of saltwater and reef aquarium supplies, reported a growth rate of 1,248% from 2007 to 2010.
Other Minnesota companies on the list were ShopJimmy.com, Renters Warehouse, Erickson Builders & Co.,and Modern Automotive Performance.
Forbes Wednesday, July 20, 2011
The Minneapolis-St. Paul area landed on Forbes' list of Best Cities for Young Professionals, coming in at number 10 on a list of 15 top cities.
The Midwest was well represented on the list, with Des Moines grabbing the top spot, Madison coming in third and Omaha at number five.
To determine the best cities for young professionals--which Forbes defines as adults aged 24 to 34 who hold a bachelor's degree or higher--the magazine assessed cities on seven factors, including unemployment rates, projected growth, number of small businesses, median salaries, and cost of living.
A local program that assists immigrant farmers has been spotlighted in Harvest Foodservice Journal, a publication that connects those interested in sustainable food systems with contacts in the foodservice industry.
The Minnesota Food Association (MFA) trains immigrant farmers in techniques that allow them to grow food that can be certified as organic, which opens up new markets and resources for them. That designation can also link them to important wholesale markets that might otherwise be inaccessible.
To build a bridge over cultural differences, the MFA works with translators and various ethnic groups to build educational sessions. The non-profit training program helps by offering low-cost land rental, affordable infrastructure like walk-in coolers, and assistance with taxes.
The Minnesota Cup has added $35,000 to its 2011 pool of prize money, reports Wendy Lee in a May 9 StarTribune article. That's 42 percent higher than last year's total prize money, she writes.
The increase is the result of the competition adding sponsors, a Cup spokesperson tells Lee. Carlson Companies was already a new sponsor at the time of the competition's launch last month, and General Mills is the most recent addition as a new General Division Lead Sponsor, according to a press release from General Mills.
On May 6, Best Buy CTO and Geek Squad Founder Robert Stephens posted to his blog an article titled A Few Key People in Minneapolis/St. Paul Can Make a Huge Difference.
The long post is a call to entrepreneurs that includes a ten-point "recipe" for the Twin Cities startup community.
It was an interesting rhetorical move, as the text is a repost of an almost identical post by Mark Suster on TechCrunch — about Seattle.
Inspired, Stephens asked permission to post the copy, swapping out the names of the cities, universities, companies, and startups for local Twin Cities ones.
"His thoughts really apply to most cities in the US, if not the world," writes Stephens of Suster's post in his introduction.
Patisserie 46, a neighborhood bakery in Minneapolis opened less than a year ago, yet it already has a loyal following, a recent story in the New York Times states. Its French-style croissants "are crisp and light as air," while the macaroons evaporate in the mouth, the story says.
Patisserie owner John Kraus trained in Europe before teaching at the French Pastry School in Chicago, where he worked for over a decade. He opened up Patisserie last summer. In the story he observes, "Minneapolis is becoming a phenomenal baking town."
Other local bakeries that are given a shout-out in the story include Sweets Bakeshop, which has locations in Minneapolis and St. Paul, Salty Tart Bakery in Minneapolis, and St. Paul's Bars Bakery.
Investors Mark Marlow and Sean Casey "are putting up $10m each of their own money to fund Minnesota startups for no other reason than they see a real opportunity here and now," according to a story at Tech.mn.
The pair formed Omphalos Venture Partners in November and have since invested $1.7 million in four companies, writes Jeff Pesek: Zipnosis, Rapid Diagnostic, Bavia Health, and Steady State Imaging.
Marlow and Casey were together previously at the successful startup Virtual Radiologic.
A Twin Cities fitness franchise has been named one of the top 21 opportunities for young entrepreneurs by Under30CEO.com.
Snap Fitness, based in Chanhassen, "has some of the lowest startup costs in the industry," according to a company description in the rankings.
Under30CEO.com also writes that Snap Fitness Founder Peter Taunton was a recent recipient of Ernst & Young's Entrepreneur of the Year award, and that the franchise has appeared on the franchisehelp.com blog's list of 18 Perfect Franchises for the Modern Day Man.
Dana Severson talks with Aaron Street of StartupLawyers.mn in his Feb. 22 Start Me Up blog for Twin Cities Business.
Street and Sam Glover are the attorneys behind the St. Anthony Main-based practice--self-dubbed "business lawyers for geeks."
The firm offers to entrepreneurs legal services packages ranging from $199 to $1,999 per month, rather than at an hourly rate, Street points out in the Q&A.
They also publish the law practice blog Lawyerist.com through their company Lawyerist Media.
Minneapolis, Hollywood and New York City will be the three locations of the winning restaurant concept to emerge from the upcoming reality TV series, "America's Next Great Restaurant," a Pioneer Press story reports.
The series, which airs on March 6 on NBC, will start out with 21 contestants who will compete for the financial support to make their ideas a reality.
Celebrity chefs Bobby Flay from "Iron Chef America," Curtis Stone from "The Biggest Loser," Steve Ells, the founder and CEO of Chipotle, and Lorena Garcia, a Miami restaurateur, will act as sponsors and mentors.
Minneapolis-based entrepreneur Thomas Grabowski has ridden the tech startup train from his Minneapolis basement to the West Coast and back again, according to TECHdotMN's Jeff Pesek.
Grabowski, who helped start LogLogic in 2002, has left the company and returned to Minneapolis to team up with Jason Destefano and Peter Jordan to launch Rapid.IO with the recent help of $1.1 million in equity, including investment from Vestbridge Partners and El Dorado Ventures.
Rapid.IO is a log analytics company that develops technology that helps businesses better utilize log data. The founders' vision is that "everyone should be able to understand their application data and … produce fast, good-looking, everyday reporting on their application's log data," according to the Rapid.IO website.
"… the complexity and volume of log data needed its own data structure," state the Rapid.IO folks. They advertise a new approach with a simple concept. "Indexing works great for Google and web pages, but not for information contained in log data."
You can find as much (if not more) information about Rapid.IO on the Rapid.IO TECHdotMN page.
Locally based mom-and-tot boutique Hot Mama has ambitious plans for 50 nationwide stores by the year 2014, reports Stephanie Schomer in the February issue of Fast Company.
2010 revenue reached over $15 million, a 62 percent increase over 2009, and CEO Megan Tamte expects it to crest $20 million this year.
The company is headquartered at the site of its first store, opened in 2004 at 50th and France on the border of Edina and Minneapolis. Its website lists 18 current locations--11 in other Midwestern states.
The Business Journal's Katharine Grayson, who has been tracking venture capital investments in Minnesota, reports on the latest MoneyTree Report.
It's not good news: Venture capital investments in 2010 were the lowest on record since MoneyTree started compiling the report 15 years ago.
Nationally, venture capital investments were up 19 percent in 2010 compared to 2009. However, they were down 9 percent for medical devices, and Minnesota's concentration in that sector may help explain the drop here.
More at Grayson's In Private blog.
MOJO/Minnesota agitator Ernest Grumbles III has compiled a look back at the year in startup/innovation news in Minnesota. They include the debut of the state's angel investor tax credit, the creation of the Minnesota Science and Technology Authority, as well as the launch/growth of new media sources covering the state's startup/innovation scene (including us!). Read Ernest's full rundown and summaries on his Star Tribune YourVoices blog.
Minneapolis/St. Paul Business Journal reporter Katharine Grayson writes that no Minnesota technology startup raised venture capital in the third quarter. That sounds very bad, but Grayson notes that it's not surprising and, depending on who you ask, not all that important. The cost of building tech startups has fallen so much in recent years that some argue venture firms aren't needed in the equation any more.
But Michael Gorman, a partner at of Split Rock Partners, argued at a recent venture finance conference that tech startups still need venture funding in order to scale. He pointed to Chicago-based Groupon as an example. The privately held company has thousands of employees and projected revenue that could top $500 million this year. Is that type of success do-able without venture capital? Discuss over at Grayson's In Private blog.
Tech.mn Wednesday, October 20, 2010
TECH.mn's Lauren Melcher spoke with the Minnesota High Tech Association's incoming president and CEO, Margaret Anderson Kelliher. The onetime candidate for governor will finish her term as Speaker of the House in December and officially begin her job with the association in January.
"We have a great history of innovation in this state, as well as the ability to sell that creative environment," Kelliher tells Tech.mn. "We also have quite strong link to the beginning of the computer industry, and we have the opportunity to both build off of that and go farther than we have in the past."
Other topics covered in the Q&A interview: startups, the digital divide, STEM education, and the gender imbalance in those career fields.
Minneapolis-St. Paul is witnessing a proliferation of D.I.Y. organizing around technology and innovation issues, The Line's Dan Haugen writes in this month's Twin Cities Business magazine.
From meetups and happy hours to competitions and unconferences, a new generation of institutions is rising up to support entrepreneurs and innovators in the Twin Cities. Enabled by social networking, these new efforts reflect the sensibilities of a generation that's grown up using the web to share and create. They're informal, usually free or inexpensive, and more about conversation than lectures.
Read the entire story here.
An idea developed by Twin Cities Public Television is set to be sprung on the nation next year via PBS. "Next Avenue" targets baby boomers first online then through television programming, the New York Times reports:
"The core of the project, called Next Avenue, will be a Web site with original and aggregated content from public and nonprofit partners--organized around health and wellness; money and financial security; and a category called living and learning--that is expected to start April 1.
"Some existing public television shows will be bundled together under the Next Avenue banner, but original television programming is not planned until the third year. Community events coordinated by local public television stations will also be part of the package.
"The initiative, which is based at Twin Cities Public Television, the public station in Minneapolis-St. Paul, has some deep-pocketed foundations backing its development with $5 million in grants, which is a fairly typical public broadcasting approach. But to make Next Avenue self-sustaining once it starts up, organizers are forming a new sponsorship approach for public television, which is often a difficult sell to marketers used to buying commercial time on more ratings-driven networks. ...
"Next Avenue grew out of Twin Cities Public Television's 2004 award-winning documentary for PBS called 'The Forgetting: A Portrait of Alzheimer's,' and its series, 'Life (Part 2),' also on PBS, about the generation's fresh approach to aging."
Read the full article here.
EarthClean Corp. is the winner of the 2010 Minnesota Cup.
The Minneapolis startup, which we
wrote about last month, makes a nontoxic, biodegradable alternative to conventional firefighting foams.
The product, TetraKO, is a patented dry-mix product that, when mixed with water, forms a non-toxic gel that sticks to surfaces and suppresses flames.
The Star Tribune's Patent Pending blog notes that the company will receive an additional $20,000 in prize money in addition to the $20,000 it won early this month for winning the clean tech division.
CEO Doug Ruth tells the Star Tribune's Patent Pending blog that he plans to use the money for sales and marketing.
This week's Consumed column in the New York Times Magazine takes a look at how people are using new web services to attach stories to their things.
One of the services is by a St. Paul startup called Itizen, which launched in beta in June. Users can affix a tag to any item, and when someone enters the tag's code on its website, it displays a story or anecdote about the item.
Co-founder Dori Graff tells the magazine that they were interested in how brands were using new forms of bar codes, and also noticed they were doing more swapping of clothes and other items in their personal lives. "Our big superlofty goal would be to influence a shift in how people view their possessions," Graff told the magazine.
MedCityNews' Thomas Lee concludes that Minnesota's angel investor tax credit is performing "exceedingly well" through its first month. The Minnesota Department of Employment and Economic Development awarded $573,000 in the past month. That puts the state on pace to award about $6 million over 12 months--less than the $11 million allocated for the credit this year but encouraging considering the climate.
Minneapolis-based DoApp is included in a Mashable list of startups by former Google employees. Joe Sriver was Google's first user interface designer before he founded DoApp, which, as the blog notes, is the creator of the Whoopie Cushion App, among others. The company has also developed a product to help news organizations create custom mobile apps.
Jeff Pesek at Tech.mn checked in with Shane Reiser, who is organizing Startup Weekend in the Twin Cities Sept. 17-19. The event challenges up to 100 participants to build a startup in 54 hours.
Speakers confirmed so far include Geek Squad founder Robert Stephens, Jon Dahl, co-founder of Zencoder, and MixMobi co-founder Lisa Foote (whom we
checked in with a few weeks ago.)
Reiser tells Tech.mn that he's seeing more early interest in Startup Weekend in the Twin Cities than any other city where he's organized the events, including New York City.
More details over at Tech.mn.
Tech.mn has an announcement about an event called Startup Weekend, which is coming to the Twin Cities on Sept. 17-19.
The event will be held at CoCo and is open to 100 participants. The goal is to "vet, pitch, build, and demo new products over a single weekend."
Read the entire announcement at Tech.mn.
The Star Tribune profiles Pete McNerney, a Minnesota venture capitalist who is co-founder of a $375 million venture fund that invests in biotech, drug, and med-tech companies nationwide.
The portfolio of McNerney's firm, Thomas, McNerney & Partners, includes Torax Medical of Shoreview and Plymouth-based Atritech. Minnesota companies typically comprise about 20 to 25 percent of the fund's investments.
Read the Star Tribune article here.
Twin Cities Business magazine has a series of profiles on the 2010 Ernst & Young Entrepreneurs of the Year winners for Minnesota, Wisconsin, and the Dakotas.
The winners range from a beer brewer and beef jerky maker to a fitness chain founder and TV parts recycler. The winners are now candidates for the national Entrepreneur of the Year awards, which will be announced in November.
Read the Twin Cities Business profiles here.
Think "young entrepreneur" and you might imagine a college student starting a technology company in his dorm room. You probably don't think of a loan processor quitting a bank job to start a rock hauling service.
Krystal Vierkant, founder of Rock On, is one of eight young entrepreneurs spotlighted in The Business Journal's 2010 Young Entrepreneurs section. Candidates had to be under 35 and a founder or controlling shareholder at a company with more than $1 million in annual revenue.
This year's honorees were: Dirk Bak of Corporate Facilities Management, Steve Whinnery of eCapital Advisors, Krystal Vierkant of Rock On Cos., Collin Kaas of Kaas Wilson Architects, Justin Kaufenberg of TST Media, Nick Beste of ManCave, Matt Meents of Reside, and Brentone Hayden of Renters Warehouse. (Warning: the section is behind the Business Journal's paywall.)
Read The Business Journal's full summary here.
Minnesota companies attracted $45.4 million in venture capital investments in the second quarter, more than double the previous quarter's amount, the Star Tribune reports.
However, that amount still leaves the state on pace for the lowest annual total of venture capital investments since PricewaterhouseCoopers and the National Venture Capital Association started tracking the figures.
"If we finish out the year at this pace, we're well below the lows of 1995 when the survey started," Jay Hare, a partner at the Minneapolis office of PricewaterhouseCoopers, told the newspaper. "We are still so heavily concentrated in one industry [medical devices] that it's hurting us when we're seeing the national [venture capital numbers] rebound."
Read the entire Star Tribune article here.
As expected, the Minnesota Department of Employment and Economic Development posted online Monday details and documents related to the state's new angel investor tax credit.
The 25 percent income tax credit is designed to spur investments in technology-based Minnesota startup companies. The program is funded with $11 million this year, and $12 million per year between 2011 and 2014.
The credit will be awarded on a first-come-first-served basis. Before investors can apply, they and the companies they are investing in must apply for certification to verify that they qualify for the program.
View details and applications for the angel tax credit here.
A key architect of the state's new angel tax credit may tackle tech-transfer legislation next.
Rep. Tim Mahoney (DFL-St. Paul) tells MedCityNews that he's frustrated with the University of Minnesota's efforts to turn basic research into commercial products.
"So unless the university makes significant progress by the end of the year, Mahoney will introduce a bill that either privatizes tech transfer or calls for the university to hire a 'strong entrepreneurial' president that will 'really shake up' the Office for Technology Commercialization (OTC)," MedCity News writes.
Mahoney goes on to say the university's practice of spinning off just a few high-potential companies per year amounts to "screening companies to death."
Read the full MedCityNews report here.
The St. Paul Pioneer Press lists 15 places to get gourmet food in Lowertown, with map. Some are here; others are coming. A sample entry:
"VINES AND STEINS, 266 E. Seventh St. Opening September 2010. For his latest project, Bulldog owner Matt Lokowich is doing an upscale deli and liquor shop, complete with walk-in cooler and 1,000 kinds of beer."
Read the full article here.
"Back home, they would shoot me in the head for doing this to hummus," Holy Land CEO Majdi Wadi tells the New York Times.
In Wadi's home country of Jordan, hummus is strictly a puree of chickpeas, sesame paste and garlic. Here in northeast Minneapolis, though, Holy Land is finding success with its expanding line of flavored hummus.
They introduced jalapeño hummus in 2000. The most recent addition is guacamole-flavored hummus, and later this month it will introduce a peanut butter variety.
"I'm making this an American product," says Wadi.
Read the New York Times article here.
Ernst & Young last week announced its Entrepreneur of the Year winners for 2010. Central Midwest Region winners include the creators/founders of Surly Brewing, Jack Link's Beef Jerky, Snap Fitness and Starkey Laboratories, among others.
"Ernst & Young believes in the power of entrepreneurship," partner William Miller said in a statement. "These Entrepreneur Of The Year award winners are best in class, and we are proud to honor their outstanding success."
Read the entire list of winners and press release here.
The Downtown Journal takes note of a transportation trend that's on the rise partly due to the opening of the Minnesota Twins' Target Field in downtown Minneapolis: rickshaws, also known as pedicabs.
"Pedicabs, those three-wheeled pedal taxis that combine the mechanics of a tricycle with the luxury of a chariot, are everywhere this spring. And while they aren't necessarily new to Minneapolis, the last few months have seen the number of giant trikes mushroom, lured Downtown by the flood of pedestrians surrounding Target Field. It's a sign that the Twin Cities have finally jumped on board with a green industry that has been growing exponentially--and often problematically--in cities large and small around the country.
"But while we may be a little late to the pedicab game--pedicabs have operated in New York City since 1995, and in Portland, our rival in all matters cycling-related, they've been part of the urban landscape since 2002--we seem to be ahead of the curve in policing it."
Read the full story here.
Restaurants are leading a commercial boom in the Minneapolis Warehouse District, thanks to the Minnesota Twins' new Target Field, the Star Tribune reports.
"The weak economy and credit freeze may have stalled some major development deals in the neighborhood, and the economic benefits from the ballpark--if they materialize--may not ripple to office and housing markets for years. But the number of new investments in restaurants, considered the front-line retail businesses, has some real estate pros calling the ballpark 'a game changer.'
"'The Warehouse District is going through a metamorphosis. It really is,' said Andrea Christenson, a retail broker at Cassidy Turley."
Read the full story here.
Wisconsinites are worried they'll have to power up because of Minnesota's new angel investor tax credit.
About half a dozen Minnesota biotech companies have jumped the border to Wisconsin in recent months, lured by the state's angel investor tax credits, according to the BioBusiness Alliance of Minnesota.
Now that Minnesota has created its own angel investor tax credit, Wisconsin officials tell Milwaukee Magazine that the state might have to do more to attract companies.
"It's going to make us more competitive," Bryan Renk, director of Wisconsin BioForward, tells the magazine.
Then, the fightin' words: Milwaukee Magazine writes that, according to Renk, Minnesota may have more biotech jobs, but "Wisconsin has greater research prowess and a more educated workforce."
Read the entire article here.