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

Tag: Split Rock Partners

Minnebar Rocked!

Excellent speakers and panels, and a great crowd yesterday at our local BarCamp event. More proof that we have a vibrant tech community here in Minnesota! Major expertise, lots of energized developers and entrepreneurs, and some exciting, budding startups in the works.
Also more proof that online and offline community can be mashed up successfully…. Minnebarlogo

It was great to see a top VC firm in state, Split Rock Partners, as one of seven sponsors of Minnebar. I told partner Michael Gorman he blended right in wearing a tee shirt and shorts — love that! 🙂 And I saw him in the Ruby on Rails session that I also attended. (We have an outstanding group of “RonR” developers here, by the way.)

The turnout for the GetGoMN session was fantastic, with Scott Littman and George Reese telling the story behind the recently launched site to support entrepreneurs. Getgologo175w Lots of great questions and input from several people. I’m convinced that promoting Minnebar on the GetGo site contributed to the record attendance. The biggest turnout yet for a BarCamp in this country! Yeeeee-haww!!!

Minnebarrooftop_2 Photo: Beers on the roof with event sponsors John Roberts (left) and Harold Slawik (right) of New Counsel plc, and Bill McLeslie of ipHouse. The event wi-fi was awesome — Bill hooked us up with 7 megabits of bandwidth. Gorgeous day in the Twin Cities — the high hit 83 F!

Minnebarintraining My favorite photo at the event: We start ’em young here in MN. Matt Bauer, ace developer just recruited to MotionBox in NYC (but he didn’t have to move!), shows a developer-in-training how it’s done. Matt had just finished his session on Adobe Flex.

Lots more photos on my Minnebar Flickr set. Other photo sets are linked on the Minnebar site. I suspect you’ll also be able to read some more about the event at the Star-Tribune’s Vita.MN site and in the Pioneer Press, because they both had people covering the event.

Coolest thing I learned at Minnebar? I met a former Google employee (an early employee), who moved back here from the Valley his wife, who was also a Google employee, and he’s about to launch a cool new web app online. Stay tuned….

Kudos again to the three hardest working event organizers on the planet (volunteers, yet!): Dan Grigsby, Ben Edwards, and Luke Francl…and, especially, a great big thank you to the sponsors. This all-day event is an annual thing, but evening events are held throughout the year, too. So, watch for the next “MinneDemo” and come learn and celebrate Minnesota innovation with us!

Split Rock Coughs Up Big Bucks for Local Firm (Do Tell)

But don’t get too excited — it’s just another late-stage deal. Why are we not surprised? Gearworks, as reported by the Pioneer Press, just closed on yet another $21 million in VC, of which our local Split Rock Partners contributed $7.5 million. Pilesofcash The partner on the deal is, of course, Michael Gorman. Yes, that’s a lot of money in a single round for a MN tech firm. And it now means that Gearworks has raised — are you ready? — a total of $59 million since its founding back in 1999. Of course, they blew threw a lot of that cash in a model since adandoned, but they seem to be onto a real market now for location-based services. Gearworkslogo It must be a good market, because for this much money to be invested, and now the conservative late-stage guys coming in, there has to be a big payback seen just over the horizon. [IPO?] Well, less so of a payback for the late-stage money, I guess…

But all this big-bucks stuff has little meaning to people in the early-stage investment world, where I know most of us live. For a strange juxtaposition to the above news, check out this video of the latest panel that Guy Kawasaki moderated. It’s amazing how companies today can get launched with so little capital — at least when the Internet is central to what they do. Many of ’em all but thumb their noses at VCs — I hear it all the time. One guy I heard it from recently was Gabe Rivera, founder of Techmeme, chatting with him last month at CES/Bloghaus. What some of these guys are able to do, with such minimal startup funding, is amazing. More power to ’em!