FOR IMMEDIATE RELEASE
Larry Hosch, Greater St. Cloud Dev. Corp, (320) 761-4570, firstname.lastname@example.org
Shannon Wiger, Moss & Barnett, (320) 654-4851, email@example.com
Ryan Weber, Great North Labs, (320) 224-7020, firstname.lastname@example.org
Abby Taubner, gener8tor, (414) 477-1227, email@example.com
Local Businesses to Receive Free, Nationally Ranked Startup Support
gener8tor to bring gBETA and gALPHA programs to St. Cloud and the surrounding region
St. Cloud, MN – Nationally ranked startup acceleratorgener8toris expanding its gBETA and gALPHA programs into St. Cloud and greater Minnesota. Collective efforts led by theGreater St. Cloud Development Corporation, Great North Labs, andMoss & Barnettbrought together a regional collaboration of over a dozen St. Cloud-based organizations who are committed to investing in innovation knowing that a strong start up and entrepreneurial ecosystem is one of the most impactful ways to drive economic development. gBETA and gALPHA accelerator programming will be offered to startups throughout the St. Cloud region and greater Minnesota by providing intense development, guidance, and support to local entrepreneurs and startups over the course of the four- and seven-week programs.
“Speed is essential to startup success,” said Ryan Weber, Managing Partner at Great North Labs. “ Until now, there hasn't been a leading accelerator program offered in greater Minnesota, leading to increased friction in supporting local entrepreneurs despite there being incredible interest and enthusiasm to support them. Now, entrepreneurs can benefit from working closely with gener8tor to provide an efficient program with global reach.”
gBETAis a free, seven-week accelerator for early-stage startups with local roots. The program requires no fees and no equity. Each gBETA program is capped at five companies to ensure meaningful engagement with and intensive and individualized coaching from the gener8tor team, program stakeholders, mentors and investors. The program is designed to help startups gain early customer traction on their product or idea, and establish metrics that can make them competitive applicants for full-time, equity-based accelerators or seed investment.
gALPHAis a free, four-week venture creation workshop for individuals who are interested in building a startup. Applicants need not apply with an idea, because gener8tor helps facilitate “reverse pitches” with local organizations (e.g.corporations, tech transfer offices, nonprofits) to provide industry problems for these technologists and innovators to build solutions around.
gBETA and gALPHA are completely free to participating entrepreneurs and startups. Several
organizations who understand the critical need to encourage and promote local innovations have banded together to generously sponsor gener8tor’s local presence for the next three years. These organizations includeGreater St. Cloud Development Corporation,Great North Labs,CentraCare Health,Granite Logistics,Moss & Barnett,Kensington Bank,Central McGowan,Schlenner Wenner & Co.,Park Industries,St. Cloud Technical Community College,St. Cloud State University,College of St. Benedict, St. John’s UniversityandGranite Equity PartnerswithMicrobiologics,DeZURIKandGeoComm.
“Moss & Barnett helps start and grow innovative companies throughout the Midwest,” said Shannon Wiger, Director of Business Development at Moss & Barnett. “Through that work, we note that without fail, communities that are truly thriving have a strategic effort focused squarely on cultivating an ecosystem that is a magnet for entrepreneurs, investors and talent. Collectively those places take great ideas and make them real. That momentum positively impacts the regional economy in dramatic and unmatched ways.”
A local, full-time director will be hired to run gBETA and gALPHA and further evangelize the startup community in the region. Free office hours and “Lunch and Learn” sessions will be open to the public and held on a regular basis. The programs will culminate in showcase events to celebrate the innovation and accomplishments of the participants, which will be free and open to the public. Director applicants, startup founders, mentors and investors are encouraged to visit gBETAstartups.com/greater-mn-st-cloudto learn more and get involved.
About Greater St. Cloud Development Corporation
The Greater St. Cloud Development Corporation, a private collaboration of more than 260 regional business and community leaders within Benton, Sherburne and Stearns counties, was formed in 2011 to lead economic development for the benefit of the Greater St. Cloud region. Its office is at 501 West St. Germain Street, Suite 100; its phone number is 320-259-0300.
About Great North Labs
Great North Labs is an early-stage venture fund investing in tech startups in the upper Midwest from its St. Cloud headquarters. In addition to cultivating successful tech companies, Great North works to develop the startup ecosystem by partnering with local universities and international organizations, while promoting grassroots economic development through venture-based value creation, and growing local startups to global scale.
About Moss & Barnett
Moss & Barnett, with offices in Minneapolis and St. Cloud, provides a full range of legal services to businesses and individuals throughout the Upper Midwest. Our team works closely with our clients and communities to create solutions that achieve their objectives, promote efficiency and maximize success. We listen and strive to understand each client’s business and personal needs, and then we assemble the right team and work aggressively to offer practical business and litigation strategies to minimize risk, maximize opportunities, and provide effective solutions.
gener8tor is a turnkey platform for the creative economy that connects entrepreneurs (startup founders, artists and musicians) investors, universities and corporations. The gener8tor platform includes pre-accelerators, accelerators, corporate programming, conferences and fellowships focused on entrepreneurs, artists and musicians. gener8tor is a nationally ranked, GOLD-tier accelerator in the U.S. as ranked by the Seed Accelerator Rankings Project: seedrankings.com.
Facts about gBETA
This will be gener8tor’s 16th gBETA market.
gBETA has worked with 198 companies to date.
gBETA’s goal is for 1/3 of companies who have graduated from the program a year or more ago to raise at least $50K, participate in a full-time equity-based accelerator, and/or get acquired. To date 52% of companies who have graduated a year or more ago have hit this metric.
67 companies have raised at least $50K.
22 companies have participated in a full-time, equity-based accelerator.
3 companies have been acquired.
gBETA companies have collectively raised $29,648,500 in total follow-on financing.
To date, gBETA companies collectively employ 430.5 employees. (Part-time employees count as “.5”)