Madison and Milwaukee based startup accelerator gener8tor has announced the completion of their latest fund – “gener8tor Fund II”. The $2.1 million raised will provide funding for continued operation and investments of the gener8tor accelerator program. Funding was led by CSA Partners, Venture Management, and Wisconsin Investment Partners.
Gener8tor’s 28 portfolio companies to date have raised nearly $30 million in funding. Applications are due for the next accelerator class on January 1. More information on the new fund is available here.
Madison was ranked as the 2nd best city in the country for young entrepreneurs by finance site NerdWallet. The site compiled ratings based on access to funds, networking and mentoring opportunities, the strength of the local economy, and the cost-of-living.
Young entrepreneurs in Madison benefit from one of the highest per capita rates of small business loans ($799 per loan) in any major city. Three of the top five cities were located in the Midwest. The full rankings and more information is available here.
Nordic Consulting co-founder and CEO Mark Bakken is stepping aside to launch a new venture fund targeting seed and early stage healthcare IT startups in Madison. Nordic, an Epic consulting firm, has experienced rapid growth in recent years and now employs nearly 500 people. It was also recently recognized as the 46th fastest-growing privately held company in the U.S. on the annual Inc. 500 list.
â€œMadison is quickly gaining national recognition as a world class healthcare hub.â€ – Mark Bakken
More information on Nordic and the new fund is available here.
Applications for gener8torâ€™s â€œMadison 2015â€ program are now open. gener8tor is a startup accelerator that invests its community, capital, expertise, mentorship and network in capable, early-stage entrepreneurs with innovative business models.
gener8tor is seeking to invest in technology-enabled businesses including software, IT, web, SaaS, e-commerce, and hardware. Accepted companies receive up to $120,000 of guaranteed funding and 12 weeks of mentorship-driven programming. gener8tor is a proud member of the Global Accelerator Network (GAN) and is sponsored by American Family Insurance. To date, gener8torâ€™s 28 portfolio companies have raised nearly $30 million, with average follow-on funding exceeding $800,000 per company.
There is an Information Session in Madison on December 2, and more info is here. Applications are now being accepted through January 1 here.
Murfie was featured in an article in Inc. magazine about “5 Interesting Startups from the Midwest“. The article highlights some of the unique traits startups in the Midwest often have, including homegrown hospitality, lower over head/cost of living/small business taxes, and a little extra heart. Read the full article here.
Last summer the Wayward Nation film crew traveled the country documenting the “New American Dream“. They stopped for a few days of adventure in Madison, where they spent time at Sector67 and PerBlue. You can check out the full season of episodes on Ora TV.
The full episode (#9 – “The New American Dream is Hacked”) is available here. An additional interview with Sector67 founder Chris Meyer is available here, and a video game pitch session is available here.