Reflections & analysis about innovation, technology, startups, investing, healthcare, and more .... with a focus on Minnesota, Land of 10,000 Lakes. Blogging continuously since 2005.

Category: Entrepreneurship (Page 3 of 59)

All About Minnesota’s Latest Angel Fund – and Now Its First Investment

[NOTE: This post first appeared April 7, 2015 on Minnov8.com, where I am a contributor.)

SofiaFund-logo-250wThe news about a new angel fund in Minnesota appeared in the StarTribune in late January: “Sofia Fund receives nearly $4 million for angel fund”.  Just over two months later, the fund has announced its first investment — in Minneapolis-based Kidizen, a “kid resale marketplace to buy, kidizen-logosell, and swap your kid’s clothing, gear, toys, decor and more.” Here’s how Kathy Grayson at the Business Journal reported that news on April 3:

“Women-focused angel fund Sofia backs Kidizen.” The amount of the investment was not revealed. [UPDATE: A Twin Cities Business magazine story that appeared after I first posted this said it was $100,000.]

I’ve known three of the Sofia Fund’s members for some years, and have had the pleasure of working closely with one of them, Barb Stinnett, since late 2012. So, I decided to interview Barb to get some more background on the Sofia Fund.

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Seth Levine the Way You Didn’t See Him in Minneapolis

I just can't help myself.  After Seth's appearance here was so well received (see my post Seth Levine of Foundry Group Speaking in Minneapolis on 'Startup Communities'), I just had to drag out a little history on the man for those here in Minnesota who may not know him so well.  Specifically, his brief but budding career in rap music. 

Seth-I'maVCIt all began in 2011 when he and his partners in Foundry Group produced and starred in that now immortal video, I'm a VC. (Screenshot left.) Yikes, it's had close to 100,000 views on YouTube fo far… and counting.

But it turned out that was just a warmup. In late 2013 the saga continued, as he and da boyz decided they had another one in 'em, bursting again onto YouTube, and their blog, with Worst of Times. (Screenshot below.)

That second one is now stylin' — are you ready — about Seth-WorstOfTimes 182,000 views to date! It's especially a riot for those of us who go back a while in the tech industry.

You gotta love that Seth and his partners — Brad, Jason, and Ryan — know how to have fun. (And Jason is a pretty amazing video producer. He did both.)

What's the old saying? … All work and no play makes Jack a dull boy?  Well, Lord knows these guys work very hard, but they sure know how to play, too. Dull they are not… 🙂

Thanks again, Seth, for speaking in Minnesota! But, next time, we want all you guys on stage for some live rappin', okay?

Defrag 2013: Day 2 – The Search Continues… #defragcon

Defrag-PurplePodiumNever one to back away from my incessant quest to discover what's happening next in tech, I of course was right back in the big room on Tuesday morning, even early, ready for more of the firehose. It helped that Eric had scheduled this day's kickoff an hour later, to accommodate those of us who had some extremely important late-night partying meetings. Why I got up early to come hear an opening talk called "The Sands of Time: How Cloud is Changing the Role of the CIO" I have no f-ing idea, in retrospect. But, you know, it's that crazy search/quest thing of mine, I guess. Where will I next learn something new?  Unfortunately, when I saw the small size of the type on the slides, I immediately zoned out and started working on my Day 1 blog post. For the love of God, couldn't someone at IBM create slides that can be read a large room like that? I was in row four and could barely make them out!  I just don't want to work that hard to focus first thing in the morning.  Call me crazy, but I look at the slides, not so much the speaker. (Note: for full-size versions of the images in this post, hit my Defrag Flickr set.)

Anyway, I made some headway on my blog post and was ready for an excuse to stop writing — perfect timing to learn something! Enter a new topic for me: "The History and Future of Calm Technology." This
AmberCasewas a talk delivered by researcher Amber Case of Esri — who thankfully had some awesome slides. Yes, with pictures! … I was so ready for some of those. What the heck is Calm Technology, you ask? Turns out it's another one of those John Seely Brown things, and most certainly must have a Wikipedia page, if you're so inclined. But the key point I garnered from Amber was this: it's "technology that gets out of the way when you don't need it." Brilliant — who cannot love that? Somebody asked her at the end if, like, Google Now would be a calm tech, and Amber said yes. Okay, check — gotcha. It just happens in the background. Amber delivered a great talk, and I understood why Eric has been trying to get her to speak at Defrag for years.

Then it was into the breakout sessions — three talks to chose from, in three successive time slots, across three rooms — so nine talks, pick any three. Always hard. I first chose to hear Bart Lorang of FullContact talk about "Influencers or Normals: Who Do You Ignore?" — sexy title, but it really didn't pay off for me. I think I got oversold. The message was really "know who you customer is" — and FullContact can help you do that.  Okay, fair enough.

The second session I chose was my analyst buddy Larry Hawes, of Dow Brook Advisory Services, speaking on
IndieWeb-logo"People and Purpose in the Bigger Network of Smaller Things."
Another title that intrigued, but the content was a surprise: it was an overview of a phenom I wasn't really too aware of, but should have been: the IndieWeb movement. Who would have guessed how big this thing could become, after just getting its start as a barcamp in 2010? Larry gave some examples of IndieWeb projects — get this: WordPress, OpenID, diaspora, p3k, Pump.io, idno, owncloud, IndieAuth. (Here's a recent Wired story on IndieWeb by Klint Finley.)

I then caught Phil Windley's session on "Programming With Personal Clouds," where I got to learn more
Fuse-Kickstarterabout the cool new Kickstarter project from his company Kynetx. It's called Fuse, and it's about "connecting your car with the rest of your life."  It's a smartphone app that gives you a second dashboard, an off-the-shelf gizmo that plugs into your car’s diagnostics outlet, and a personal cloud to connect your car with the rest of your life. Your own personal cloud — imagine that! No, don't imagine it, cuz it's here.

Then it was back to the main room for a pre-lunch keynote from Pivotal
PivotalLabs-BareFeetLabs, a company with such a cool culture that EMC found 'em and bought 'em in 2012.  They're based in SF and have several other locations, including Boulder, where they continue to grow and create great software. Their talk, given by a Boulder-based engineer (in bare feet!), was entitled "A Sustainable Software Engineering Culture" — now, how Boulder is that? So, if you're a software professional who's always wondered what life would be like coding in a funky, laid-back, sandals-wearing, bike-riding mountain town, you may want to check out Pivotal Labs. (Notice I said that without ever once using the word hippie.)

After another luscious lunch and more mad networking, it was back into the big room for an afternoon of all-API, all-the time. It was nonstop talks about how
API_Economy-BIGAPIs are taking over the world, and you'd better be ready, or things will, like, you know, get all outta control. We heard about the new API Commons initiative, which is "a simple and transparent mechanism for the copyright-free sharing and collaborative design of API specifications, interfaces and data models." We also heard from Intel's API/Big Data CTO, Andy Thurai, about his company's API platform for enterprises. The CEO of Mulesoft, Uri Sarid, told us about his company's many API initiatives, including its backing of RAML, the Restful API Modeling Language and how it's bringing desktop publishing to APIs — really cool stuff.  (I had also learned previously at the Mulesoft booth about some exciting new developments at Programmable Web, which it recently acquired — stay tuned!)  Layer 7, which was recently acquired by CA, got up on stage and gave an API "State of the Union" talk.  The money quote: "If data is the new oil, APIs are the pipeline," said Ross
APIs_EverwhereGarrett. LOVE that, being that I live close to North Dakota and all. Hey, if these talks didn't convince you this API thing is for real — well, you must have been writing a blog post and not paying attention… hey, I swear I was!  Totally enthralled, mouth gaping open.

Good thing there was an afternoon break at this point, or brains would have been seriously exploding. Freshly calmed down with iced tea and cookies, we got back to hear a really crazy, wild talk called "Existence as a Platform: Quantified Self Meets the Internet of Things," by Chris Dancy.  Eric Norlin said this guy was the most wired guy he knew.  He was also very funny — he could be a stand-up comedian!  Except he
SW-Defined_Everythingwas totally serious about "getting intimate with data."  Then a popular returning speaker got up and gave us a look into the future: Joe Burton, CTO of Plantronics, the original wearable-technology firm. His talk: "Invisible Infrastructure, Prescient Technology, Meaningful Data: Communications 2025 & Beyond."  Okay, science fiction is really coming true — Brad Feld, you are right, dude!

Plantronics-pyramidBut wait, there was more — underwater robots were about to take the stage! David Lang, cofounder of OpenROV, told us an amazing story of how he and his partner kinda accidentally launched, from a modest Kickstarter beginning, a whole new movement. His talk: "The Rise of the Citizen Explorer." These robots of his, hundreds of which have been sold now, are being deployed in
OpenROV-robotoceans, lakes, and rivers all over.  What really got them tons of attention was a NY Times piece about how the duo participated in the exploration of a remote underwater cave in California, which legend held had a cache of stolen gold.  Here's a short Men's Journal video of them telling a bit of the story. Wow, all this created out of a garage in Cupertino, after Lang, a UW-Madison grad, had moved West to do something big, he told me, originally wanting to sail around the world. Instead, he ended up creating a whole new Human-Computer Interface / Internet of Things product category. How freaking cool is that?

You'd think that would be enough for one day, wouldn't you?  No, no, no — not for Eric, not for Defrag.  How could we break for beer without hearing about the Big Data Daddy of them all: healthcare.  Yessirree, 17% of our economy.  And who to deliver a talk about how screwed up or behind healthcare is from a tech
GenomeCost-chartstandpoint?  No, not a doc or healthcare professional of any kind, but John Wilbanks — who was a philosophy major, which he said "taught me how to think."  But Wilbanks has acquired some serious healthcare chops in recent times. Check out his 2012 TED Global talk, Let's Pool Our Medical Data, and a program he launched called Consent to Research. He noted the dramatically declining cost of genome sequencing. John is definitely a guy to follow for anyone interested in how big data and technology advances of all kinds are impacting healthcare. And who isn't interested in that?

Wow, another mind-expanding day at Defrag. It's why I would
Defrag-EricOnStagenever miss this event, and you shouldn't either. I hope I was able to capture at least a bit of the flavor of this year's event for those who couldn't be there. Thanks to Eric Norlin and his crackerjack crew, and the entire team behind Defrag (including The Foundry Group in Boulder), for another great one!

Defrag 2013: On a Search for “What’s Happening Next”

Podium+SignGreetings from the 7th annual Defrag Conference in Denver. Yes, this is my personal seventh, too — I wouldn't miss this event! I've reported on every single one (which actually shows in my category cloud at the right). The first day of the 2013 version of Defrag is history now, and you can read lots about it at my Twitter stream here: @GraemeThickins. If you want the full firehose, the very busy hashtag is #defragcon. If you're into visuals, hit my Flickr set (you can view the visuals shown in this post in full size there).  UPDATE: I also posted a few video interviews on my YouTube channel. (Please subscribe to it. If I reach 100 subscribers, YouTube will let me live stream — woo-hoo!)

So, how would I summarize Day One? Well, you really had to be there, but here's a shot at the high points for me (in order of appearance):

Ray Wang of Constellation Research kicked it off with "The Identity Manifesto: Seven Points on the Future of Identity"… the money slide shown herein.
IdentityManifesto

PaulKedrosky,KauffmanFellow, VC, frequent CNBC commentator, and perennial
speaker at Defrag, did another fascinating talk, this one called "Good
Question"…interspersed with his unique and crazy data/research insights. We got a whole run-down on the history of the "knee slide" in soccer, for example… 🙂 The net-net of his talk: "What makes good questions? Those that create an information gap."
PaulKedrosky

Anjan Srinivas of Nutanix gave a really great talk on "SoftwareisEatingtheData Center"…in which he cited such trends as hypervisors being the new commodity, the rise of server-side flash, and the convergence of compute and storage.

StephenMesser ofCollective[i] delivered an absolutely fascinating Big Data talk on "UnpackingData’sBaggage:LessonsFromAirportSecurity" — a stark contrast between our TSA, which costs $43B and screens everybody vs. the approach of El Al Airlines, which has had zero incidents 1969-present, by focusing on anomolies and asking the right questions.

Jerry Colonna, former VC colleague of Fred Wilson's (now life coach) and Brad Feld, Foundry Group partner, bared it all on stage on "The Emotional Challenges of Enrepreneurship" — which really could have been titled "…the Challenges of Being a VC." Especially a unique one like Brad. Hey, do you think it's freakin' easy being Brad?? 
Brad+Jerry One of Brad's best lines during the talk:" "The machines are all laughing at us on some level." (Thanks to Robbie Jack for reminding me about that one.)

 • Klint Finley (@kintron), a writer for Wired and TechCrunch, did a talk on "Quantified Work: Tracking Efficiency Without Crushing Souls"… in which he asked, "What if you had an 'employabilty' score like a credit score?" We sure aren't there yet, as influence rankings are made for marketers, not employers, he said. He has some good links on this topic here.

Tim Falls, Director-Developer Relations, SendGrid, gave a talk about how developer marketing is best done by building relationships. He paid tribute to John Sheehan and Twilio, whom he said "were huge in helping his company us build our developer community."

Oren Teich, COO, Heroku/Salesforce, gave perhaps my favorite talk of the day. He called it "Great, Software Ate My World. Now what?" — but it was really about design, and its growing importance in our
Heroku-boothhugely techy world. Interestingly, I had earlier tweeted a photo of Heroku's booth, saying it was the best looking one here because of what? .. design, of course. His money quote: "Design creates delight… it's the thought that goes into the deep experience." Yes indeed, that's what matters today! Oren admitted he wasn't a designer himself, but that he had a really good one at Heroku. Yep!

Chris DeVore of Founders Co-Op gave a fascinating talk called "Industrial Entropy and the Future of Work" and asked, "what happens when work is decoupled from the enterprise?" I swear I heard him say that productivity advances are already no longer driven by enterprises. There's that theme of the free agent economy coming on strong again.

Ian Glazer of Gartner gave an amazing overview of the state of privacy, "Big P Privacy in the Era of Smaller Things." He said that for "liitle p" privacy play nice with "big P" privacy, preferences must travel with the data — a concept he calls "relationship context metadata." It's a really big deal, and Ian is the guy to follow if you want to stay on top of it.

• FInally, I call out Lorinda Brandon of Mashery for a very passionate talk on "The Geek Girl Imperative." She asked "why are we separating women out to learn about technology when we don't in other disciplines?"
LorindaBrandon Young girls should not be segregated like they can't handle tech unless they're coddled and shielded, like tech is some exclusively boys world. She also panned women-only adult networking as being not helpful, noting she's always avoided such things — and "I've had a pretty amazing career." Hats off to @lindybrandon for standing up and shouting, "Why aren't there more girls here?!?"

Thoughts from a Google event in #Minneapolis …

Google and CoCo are cohosting a day-long event today on entrepreneurship and innovation in Minneapolis, including speakers, workshops, and panels — and I'm hanging out here right on through to the closing
GFEmpls-signhappy-hour reception. It's just past lunchtime now, and I thought I'd punch out a post. The afternoon sessions will be split into two tracks: one for businesspeople, marketers, and creatives, and a second for developers and those interested in technology. (I'll be sitting in on the former.)

"Google for Entrepreneurs" is the specific group CoCo partnered with for this event. But, as of today, we know this partnership is going well beyond just today's activities. If you follow the Minnov8 site, where I also blog occasionally, you may have seen my story this morning: "CoCo Ties Up with Google." Big news for our town.

To understand what the GFE program is all about, Mary Grove, who heads it up, explains on this YouTube video. Essentially, it includes Programs, Events (today's not listed – haha, even Google can't keep its own pages updated!), Resources — and you can guess that means  tools and online resources like Apps, Adwords, G+ for Business, dev tools, Groups, free websites, consumer surveys, Google cloud platform, etc.

In this glowing Forbes article from September 2012, "Google Launches Global Entrepreneurs Initiative,"  
the writer goes on to note what GFE isn't: "Google Entrepreneurs is not an incubator, an accelerator or a
GFEmpls-panelventure fund. It’s merely a connection to all of these things."
  I was particularly interested today in finding out what any connection might be to Google Ventures, the company's very own VC fund. (There is very little connection, it turns out, though they seem to fit under the same box on the org chart.)  By the way, you may think you know Google Ventures, but get this — it was recently ranked as the third most active VC firm in a study by CB Insights: "Google Grows Into a Venture Capital Power."

An interesting initiative you can find on the Google Ventures site is called Startup Lab. Not sure how that fits on with the "Google For Entrepreneurs" initiative, if at all, but there sure seems to be some overlap the way it's described. Note the web page says "we’re just getting started."  Well, um, yes — but their last blog post was July 2012. Hmmm. But they do have a current schedule of events, including several this month, all saying "at Startup Lab," which presumably means Mountain View (it doesn't say).

But Google marketing initiatives aside (which is essentially what GFE is), I'm hungering for some insight into other, related and developing Google news,  How about you?  Like this:

"To get products into more hands, Google will open its own stores by the end of the year" (9to5 Google)
"Report: Google to open retail stores in major US cities by yearend" (HuffingtonPost)

Could the big GOOG be planning a store in Minneapolis? As in downtown? Inquiring bloggers want to know…

I'd also like to ask Minneapolis mayor R.T. Rybak (who spoke at today's event) what he thinks about Mayor Bloomberg's announcement a couple days ago of a "We Are Made in NY" campaign to promote his city's startups: "NY mayor launches bid to help tech startups."  I'm betting R.T.'s city probably doesn't have budget for digital billboards and bus ads hyping our "Made in Minneapolis" ventures.  But then, we're a little smaller than NYC… and Bloomberg throws millions around like chump change.

In Minnesota, we don't do big, pushy campaigns about ourselves.  We just talk about such stuff over coffee and cookies.  Oh, and in blogs that no one in New York has probably ever seen or heard of.

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