Graeme Thickins on Tech

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

Page 24 of 142

Four Minnesotans (and One Transplant) Form the Core of New VC Firm Icon Venture Partners

IconVenturePartners-logoNews broke today about the founding of a new venture capital firm composed mainly of Minnesota names, including partners from a firm with a name familiar to many here in Minnesota that is now being retired.

In a story just published a few hours ago, Icon Ventures Forms from El Dorado's Ashes, Fortune venture capital reporter Dan Primack wrote:

"El Dorado Ventures is kaput, after 27 years of investing in early-stage
companies. But two of its partners
JeffHinck hope to continue working together, on
a new platform that they're calling Icon Venture Partners." 

He said the cofounders — longtime colleagues Jeff Hinck (top right, based in Minnetonka, MN) and former Minnesotan Charles Beeler (below right, based in Menlo Park, CA) — are seeking to raise $80-100 million for the firm's initial fund. As general partners in El Dorado Ventures (Charles for a dozen or more years, and Jeff for the past few years), the duo was instrumental in Series A funding rounds recently for two Minneapolis-based startups: TST Media (known for its Sport NGIN platform), and enStratus — which also just changed its name, to enStratius. It's more than a name change for the VC firm, however, as the story implies El Dorado is closing down, with Icon being formed as a brand-new entity, albeit with some of the same players.

What's more interesting is that three other Minnesotans are mentioned as part of a "large group of venture partners and advisors" in Icon Venture Partners, including Zenas Hutchinson (at left below), Jeff
CharlesBeelerHinck's longtime colleague and fellow partner at Vesbridge Venture Parters (now apparently inactive, so Primack's story implies).

The other two Minnesotans named are Phil Soran (below center), who some 10 years ago cofounded storage company Compellent, acquired by Dell in 2011. Prior to that, Soran cofounded Xiotech, which was acquired by Seagate in the late '90s.  Soran's longtime associate Dennis Johnson (below right), who served in senior sales positions at both storage firms, is the other Minnesota venture partner named in the story. Icon Venture Parters' Hinck and Beeler were early investors in both of Soran's startups, Hinck then a partner at Palo Alto & Minneapolis-based Crescendo Ventures, and Beeler at Menlo Park-based El Dorado.

(Disclosure: Crescendo Ventures was a client of my consulting firm some ten years ago. Compellent was also a client in early 2011.)


ZenasHutchinson 
PhilSoran  
DennisJohnson

 

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.

Kedrosky: Venture Capital Contraction Has Ended, But Accelerator Contraction Looms

PaulKedroskyPaul Kedrosky, an investor, CNBC commentator, and a fellow at the Kauffman Foundation, sees a train wreck coming. In a post published Febuary 4th, entitled "Venture Capital Contraction Has Ended, But Accelerator Contraction Looms," he first says:

"After arguing a few years ago in a Kauffman paper that the VC industry needed to shrink back to heath, it has mostly done so. Granted, the industry isn't exactly thriving yet, but most of the asset class shrinkage is now over, so further gloom and doom is more a reflection of a particular writer's psychological state than of the merits of cutting VC industry by larger amounts from here."

Then he goes on to cite another shinkage he thinks is imminent:

"…a collapse in the embarrassingly overheated accelerator segment…will almost certainly come later this year…"

 

via www.growthology.org

 

What Kind of Press Coverage Can a Minnesota Startup Get at CES?

Sensus_case+package_275wWell, plenty if its name is Canopy and its product is a revolutionary, touch-sensitive iPhone case, which adds touch technology to the back and right side.  The Sensus™ case drew huge interest at the 2013 International CES show in Las Vegas last week — as you can see from a partial list of media coverage below, stories known to have been published as of today's date. Many other blogs and news-aggregator sites reposted several of these stories, and numerous YouTube members posted video clips as well. In addition, the company's CES press release, sent via BusinessWire, was posted by a total of 465 media outlets. 

Needless to say, Canopy had a very successful CES!  And I'm proud to say that I helped orchestrate this coverage, working in concert with a trusted technology industry colleague, Barb Stinnett. It was an awesome experience working with the technology media to get the great story of the Canopy Sensus™ case out to the world!

PioneerPress  http://www.twincities.com/business/ci_22314869/making-their-cases

StarTribune  http://www.startribune.com/printarticle/?id=185688982

Forbes  http://www.forbes.com/sites/jasonevangelho/2013/01/10/ces-sensus-touch-sensitive-iphone-case-rewrites-rules-on-smartphone-functionality/

The Verge  http://www.theverge.com/2013/1/6/3843720/canopy-sensus-touch-enabled-iphone-case-hands-on

CNet Reviews  http://reviews.cnet.com/cell-phones/sensus-touch-sensitive-case/4505-6454_7-35566982.html

CNet First Look (video)
http://on.aol.com/video/canopy-sensus-touch-sensitive-iphone-case-review-517633054

NBC News  http://www.nbcnews.com/technology/gadgetbox/case-makes-your-iphones-back-sides-touch-sensitive-1B7853794

VentureBeat  http://venturebeat.com/2013/01/07/canopy-sensus-iphone-touch-case/

TechCrunch  http://techcrunch.com/2013/01/06/sensus-case-adds-back-and-side-touch-controls-to-the-iphone/

Wired (Gadget Lab) http://www.wired.com/gadgetlab/2013/01/ces-2013-sensus-iphone-case/

Time.com  http://techland.time.com/2013/01/07/sensus-brings-a-touch-panel-to-the-iphones-behind/

PC World  http://www.pcworld.com/article/2023822/the-canopy-sensus-case-lets-you-touch-your-phone-all-over.html

TechInvestorNews  http://www.techinvestornews.com/Mobile/iPhone-and-iPad/sensus-case-brings-touch-controls-all-over-the-iphone

TouchArcade  http://toucharcade.com/2013/01/07/the-sensus-touch-enabled-case-seems-pretty-neat/

iLounge  http://www.ilounge.com/index.php/ces2013/report/canopy/

MacRumors  http://www.macrumors.com/2013/01/07/ces-2013-canopy-sensus-case-adds-touch-controls-to-the-iphones-back/

TUAW  http://www.tuaw.com/2013/01/07/sensus-case-brings-touch-input-to-the-back-and-side-of-your-ipho/

GeekBeat.tv (Cali
Lewis)  http://geekbeat.tv/ces-2013-sensus-touch-sensitive-case/

Engadget  http://www.engadget.com/2013/01/06/canopy-sensus-case-adds-10-point-touch-to-iphones/

LA Times  http://www.latimes.com/business/technology/ces/la-fi-tn-ces-touch-sensitive-iphone-case-20130106,0,7921440.story

Laptop Mag  http://blog.laptopmag.com/canopy-sensus-worlds-first-capacitive-touch-iphone-case

——-

Radio interview during
CES Unveiled: "Into Tomorrow" with Dave Graveline (Canopy is 6th
guest, Hour 1): http://www.graveline.com/pastshows/Show_Notes_For_The_Weekend_Of_January_11_2013.html

NBC-LA live TV
interview the morning after "CES Unveiled": http://www.nbclosangeles.com/video/#!/on-air/as-seen-on/NBC4s-Mekahlo-Medina-At-The-Consumer-Electronics-Show/185886252

——-

iDownloadBlog  http://www.idownloadblog.com/2013/01/07/canopy-sensus-touch-case/

Apple Magazine  http://applemagazine.com/could-canopys-sensus-case-help-change-iphone-gaming/1854

iPhone Life
Magazine  http://www.iphonelife.com/blog/97/canopy-sensus-ces-touch-sensitive-case

Examiner.com  http://www.examiner.com/article/canopy-sensus-case-adds-more-touch-sensitivity-to-your-idevic

Patently Apple  http://www.patentlyapple.com/patently-apple/2013/01/sensus-to-intro-iphone-5-backside-touch-panel-case-in-july.html

Insanely Great  http://www.insanely-great.com/news.php?id=12757

Macgasm  http://www.macgasm.net/2013/01/07/canopys-sensus-case-makes-your-iphones-body-touch-sensitive/

GearBurn  http://www.gearburn.com/2013/01/the-best-of-ces-2013-so-far/

Peter Bryer: Mobile
Foresight  http://www.peterbryer.com/2013/01/making-case-for-back-of-case.html

iPhonBuzz  http://www.iphonbuzz.com/ces-2013-canopy-sensus-case-for-iphone.pngth-integrated-touch-panel.html

The News Tribe  http://www.thenewstribe.com/2013/01/07/canopy-sensus-case-lets-iphone-5-4s-4-users-to-use-touch-all-over/

iPhone Rumors  http://www.iphonerumors.com/20130107/canopy-sensus-touch-sensitive-case-increases-iphone-controls/

iClarified  http://www.iclarified.com/26546/sensus-case-adds-touch-sensors-to-the-back-and-sides-of-the-iphone-video

PC Tablet  http://www.pc-tablet.com/15007-ces-update-canopy-sensus-case-protects-increases-touch-points-iphone/

Times of India  http://timesofindia.indiatimes.com/tech/itslideshow/17955411.cms

Electronista  http://www.electronista.com/articles/13/01/07/initially.to.be.offered.for.iphone.4.4s.iphone.5/

iFans  http://www.ifans.com/blog/68578/

GadgetMac  http://www.gadgetmac.com/news/canopy-sensus-touch-sensitive-iphone-5-case.html

Before It's News (UK) http://beforeitsnews.com/science-and-technology/2013/01/ces-unveiled-2013-parrot-flower-power-canopy-sensus-trakdot-2516828.html

Phones Review (UK)  http://www.phonesreview.co.uk/2013/01/07/apple-should-incorporate-canopy-sensus-case-features-on-next-iphone/

GeekExchange  http://www.geekexchange.com/ces-2013-unveiled-a-sneak-peek-at-new-technology-innovators-31775.html/ces-unveiled-2013-canopy-sensus-case

Today's iPhone  http://www.todaysiphone.com/2013/01/ces-2013-first-capacitive-touch-case-for-iphone-announced-by-canopy/

Cult of Mac  http://www.cultofmac.com/208619/sensus-multi-touch-iphone-case-works-great-but.pngll-probably-still-fail-ces-2013/

Science News Daily  http://www.sciencenewsdaily.org/consumer-gadgets-news/cluster281496378/

Gadget Review  http://www.gadgetreview.com/2013/01/canopy-senus-touch-sensitive-protective-case-for-ios-devices.html

Gizmo Chunk  http://www.gizmochunk.com/tag/canopy/

iPad News  http://www.ipadnews.nl/tag/canopysensus/

Multiplayer Online Game
Directory  http://www.mpogd.com/news/?ID=11456

ET6 Nation  http://www.et6nation.com/2013/01/sensus-case-adds-iphone-touch-controls.html

It Struck Me  http://itstruck.me/sensus-case-adds-back-and-side-touch-controls-to-the-iphone/

 

An Interview with United Healthcare Group’s Head of Innovation

On the lookout for hometown companies at CES, I had a chance to swing by the very impressive United Healthcare Group booth in the South Hall.  Actually, calling it a booth would not do it justice!  A “massive presence” would be a better description… 🙂

UHG-CES2013-booth

While there, I had the opportunity to meet Nick Martin, VP of Innovation and R&D. I chatted with him about the various technology-related healthcare initiatives the company was showing off at CES, and some of the partner firms UHG is working with on these initiatives.

Here’s my three-minute interview, as I posted it on SoundCloud:

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