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: Startups (Page 5 of 29)

Former MN Serial Entrepreneur Lief Larson Has Yet Another New Venture

Many of my readers remember Lief Larson. He was known and respected widely in the startup community here in our state as a longtime entrepreneur. He had a successful exit with an interactive kiosk company before going whole hog into a software startup. A few years ago, he moved to Seattle after handing over the CEO reins at that VC-backed software company, Workface Inc. I miss him, and I’m sure others do, too. Not only was he a ball of energy, a smart developer and product guy, and a helluva salesman, but a really fun guy, too. He began life in Seattle living on a boat with his wife in the trendy Fremont section. And he’s definitely loving life out there in the Pacific Northwest.

But his entrepreneurial endeavors hardly stopped. Soon, he’d launched Engage.co, and not long after a sideline called Sportzy, a leisure sports and activity site. Always one to spot a new opportunity, Lief recently told me he and a colleague launched a new site called Planning to Retire.

“My buddy and I both have parents entering retirement and they keep asking us all these questions, so we decided to build a site to help them,” said Lief.  “We’re trying to capture 1,000 members in 30 days.”  So, friends, tell all your parents and relatives who are approaching that magical age about this great new site. It’s a really helpful resource for them!

Gettin’ old? Sign up now!

My Background With Lief

A little history: I was lucky enough to do some consulting work for Lief back in his Workface days — including traveling with him twice to big events in California. I really enjoyed the experience and found myself writing about him several times on this blog. Those posts go back more than five years, covering his journey with Workface (which he founded in 2006), his ties to Marissa Mayer (they grew up together in Wisconsin), and how he took on an educational effort for entrepreneurs all by himself here in Minneapolis called “SaaS Camp,” which I attended. Here are all those posts.

In one of them, I told the following story, which still makes me laugh today every time I think of it. Not only is Lief an amazing, hard-working entrepreneur, but the man knows how to have some fun!

Lief and I traveled to Palo Alto a couple years ago for a conference where Lief was pitching to the Silicon Valley VC community, along with a bunch of other hot startups, and sharing the stage with speakers like the founders of Salesforce and SuccessFactors. We stayed in a funky old, ’60s-vintage Travelodge motel — about as low-priced as we could find in Palo Alto. After we checked in to our respective rooms, we both went online to work. First thing I see is an email from Lief with a photo attached of this gorgeous, expansive hotel room, saying, “Wow, I hope your room is as nice as mine.” I never laughed so hard, because I could hardly turn around in my dinky little room, and I knew he couldn’t either… :-).

I haven’t had an opportunity to get out to Seattle since Lief moved there, but you can bet I’ll be meeting up with him the next time I do. Go, Lief!

My Live Blog of the 10th Annual Defrag Conference…

defragx-logodates

Once again, I live-blogged the Defrag Conference in Denver. This is the tenth year of this great annual tech event, and I’ve attended them all. The original idea was to get together to defrag our brains and stop to think about where technology is headed — what’s coming next. I’ve met and interviewed so many great people at this event over the years: Brad Feld, Seth Levine, Fred Wilson, David Cohen, T.A. McCann, and tons of other tech leaders, investors, authors, and more.  Not to speak of many fellow tech observers, analysts, writers, bloggers, PR people, and notable geeks who’ve come to be frequent collaborators and friends. I’ve also connected with old buddies, like the authors of The Cluetrain Manifesto, and shared some huge laughs. Attending this conference is almost like going to camp each year. I just wouldn’t miss it! (Especially when I was one of only three guys who had perfect 10-year attendance records.) Eric and Kim Norlin and their team do such a great job putting on Defrag.

So, what was on tap for discussion at the 10th annual? Lots of topics: AWS Lambda, microservices, blockchain, APIs, machine learning, AI, insights about developer marketing, bare-metal cloud, and other geeky stuff — presented by an impressive band of speakers… founders, CTOs, rock-star developers, tech evangelists, and other crazy folks. Always a fun event. And what you don’t learn in the big room, well, you can learn in the Tap Room each night till the wee hours. (Oh, and we talk a lot about sports, too!)

I posted my play-by-play updates from Wednesday morning November 16 through Thursday afternoon November 17, 2016 — live, in real-time from the Omni Interlocken Resort, in beautiful (warm and sunny!) Colorado… well, until it snowed in the final hours.

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NOTE: Unfortunately, updates to WordPress software since I originally published this post caused the live blog plugin to break. I got no warning. Nice going, WordPress! So, my content appears to be lost forever… 🙁  

I guess you just had to be there! Trust me, it was good.

What’s the Future for MedTech Startups? Reasons to Be Worried (and a Ray of Hope)

[NOTE: This post first appeared at Minnov8.com. My friends at Rochester Rising in southern MN also ran a version of it later.]

Living and working here in Minnesota, as I do, you constantly hear about how wonderful our state’s medical technology industry is. After all, we’re the No. 1 Global Medtech Cluster, as I was reminded again here at the AdvaMed 2016 conference.  We all think we’re sitting on this huge industry that will just keep growing forever and bring bountiful riches to our state. Well, it turns out things are not all that rosy.futureatrisk-cover280w

I learned today about a new report, “A Future at Risk: Economic Performance, Entrepreneurship, and Venture Capital in the U.S. Medical Technology Sector.”

Here’s the gist:

“The American medical technology industry has been suffering from a steady decline of entrepreneurship for more than two decades…”

What? Yes, it’s a fact: the numbers associated with this engine of innovation (and jobs) have been declining quite markedly.

We can relate to the medtech startup engine very well here in Minnesota, with our own giant Medtronic having been started by Earl Bakken in a garage in Northeast Minneapolis. (I worked for the company early in my career and got to be taken out for a welcome lunch by the man himself.)

Two charts from the report, shown here, will surprise many. (Click for larger view.) startupdensity-chart-kauffman

newcoformations-chartHere’s more from the report’s executive summary:

“The (medtech) industry is increasingly concentrated in a shrinking number of large players. All of those companies are scouring the globe for medtech innovation. With fewer startups in the system, the industry’s dominant companies recognize the long-term threat to innovation represented by fewer companies fueling the industry’s pipeline of innovation. All these factors represent a present and future threat to American leadership in the industry, to medical innovation and, ultimately, to patients.” Continue reading

TreeHouse Health Names Its 13th Portfolio Company

The winner of the 2016 Minnesota Cup, the largest business plan competition in the U.S., has been named by healthcare-startup incubator TreeHouse Health in Minneapolis as its latest portfolio company. StemoniX is leading the development and manufacturing of human-induced pluripotent stem cells for pharmaceutical drug-discovery applications, such as biologically accurate, miniaturized organ-like microtissues.TreeHouse-FinalLogo

“We are excited to announce the addition of StemoniX to the TreeHouse Health ecosystem,” said J.D. Blank, managing director, in a prepared statement. “Through their innovative work, they are advancing the field of drug discovery and ultimately helping patients get better treatment more quickly.”

StemoniX’s biotechnology provides scientists with standardized, easy-to-use, cost-effective access to relevant human microtissue for toxicity and efficacy screening. stemonix-logoIncorporated in Minnesota, the company is colocated in Minneapolis and San Diego, California.

TreeHouse Health defines itself as an “innovation center” designed to invest in emerging healthcare companies and help accelerate their growth. It says Stemonix is setting a new standard for stem cell technologies to meet the demands of drug discovery and personalized medicine.

mncup-logo-squareStemoniX earned the Grand Prize and title of “Best Breakthrough Business Idea of 2016” at the 12th annual MN Cup awards, held on September 22, 2016 at the University of Minnesota.

StemoniX says its efforts are revolutionizing stem cell-based research and drug screening and will lead to a new era of drug discovery and personalized medicine. “We’re grateful to become part of TreeHouse Health as a portfolio company,” said Ping Yeh, CEO. “We’re confident our relationship with TreeHouse Health will help us establish a strong presence in Minnesota, as well as generate new opportunities for Minnesota-based financing and collaborative partnerships with TreeHouse Health anchor tenants and other connections.”

TreeHouse Health now has 13 portfolio companies.

TreeHouse Health now has 13 portfolio companies.

Yeh continued: “We are thankful to the MN Cup organizers, sponsors, and community for their support and the opportunities created by our participation in the competition this year, which includes our new relationship with TreeHouse Health.”

Along with providing investment, TreeHouse Health offers its portfolio companies access to its ecosystem consisting of leading healthcare organizations (its “anchor tenants”), professional service providers, and other emerging healthcare companies. To date, TreeHouse Health has invested in thirteen early-stage healthcare companies and has anchor tenant relationships with Hennepin County Medical Center (HCMC), Blue Cross and Blue Shield of Minnesota (BCBS), and Accenture.

 

My Live Blog of the 2016 ‘Pioneer Summit’…

pioneersummit-ggbridgeskyline

I just wrapped up my live blogging at the Pioneer Summit in Redwood City, CA, covering both days of the conference, September 14 and 15, 2016. More than 1,500 attended. Here’s how the organizers described the conference:

“The agenda is packed with thrilling conversations on the ideas and people who will shape the world. Whether you’re inspired by game-changing entrepreneurs building our robotic future, or determined investors that fuel billion-dollar startups, the Pioneer Summit is bringing the Global Silicon Valley’s best and brightest to Redwood City.”

They weren’t kidding — it was packed with awesomeness!

What follows is my complete live blog, now archived in chronological order.

(Also see a selection of the photos I took at the event in this Flickr Album.)

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NOTE: Unfortunately, updates to WordPress software since I originally published this post caused the Live Blog plugin to break. I got no warning. Nice going, WordPress! So, my content appears to be lost forever… 🙁  

I guess you just had to be there! Trust me, it was good.

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