Skip to Content

Venture Center Named Community Builder in Startup Awards

Words reading "Venture Center, Technology Commercialization"

When the University of Minnesota launches new companies based on its researchers’ discoveries, it does more than bring new technologies to the market—it also invigorates the state’s broader tech ecosystem.

Earlier this month, the University’s Venture Center was named a “Community Builder” in the 2020 Inno on Fire awards. The awards, to be presented by Twin Cities startup and tech news source Minne Inno at an August 27th event, recognize the Minnesota entrepreneurs, companies, and organizations that are setting the startup scene on fire and driving change in the state.

As part of UMN Technology Commercialization, the Venture Center helps faculty, graduate student, and post-doctoral researchers assess the commercial potential of their ideas, identify funding opportunities, and launch new companies. Its staff collaborate with entrepreneurs, business advisors, and potential investors to help new startups succeed.

Beyond its role launching new startup companies, however, the Venture Center also actively supports many programs designed to bolster the larger startup community, including the gBETA Medtech accelerator, the state’s Launch Minnesota initiative, and the Walleye Tank life sciences pitch competition (the spring 2020 Walleye Tank, scheduled for April 28, has been canceled to support social distancing efforts around COVID-19).

Since its founding in 2006, the Venture Center has spun out 167 companies, with three-quarters of them based in Minnesota. In total, these startups have raised more than $1.16 billion from venture capital, acquisitions, and public offerings. UMN startups have created more than 820 current jobs—many of them high-paying tech positions—and more than 70 percent of these jobs are in Minnesota.

Learn more about the Inno on Fire awards.

Kevin Coss

Kevin Coss

Kevin is a communications specialist with the Office of the Vice President for Research.

coss@umn.edu

Latest Blog Posts

3D illustration of human head with brain highlighted

The Center for Neural Circuits in Addiction aims to create tools for measuring and intervening in the neural circuits affected by addiction.

Read More
Research laboratory built along the side of the Mississippi River

The Office of the Vice President for Research awarded nearly $2.3 million in funding to projects supporting transdisciplinary research and collaboration across UMN colleges and campuses.

Read More
Photo of Washington Avenue bridge on UMN campus with Minneapolis skyline in the background.

UMN ranked highly overall in the list of universities granted the most patents in 2019 and came in ninth among US public universities.

Read More
Categories:
Deer standing in the woods

A multidisciplinary team will explore the ecology and transmission of chronic wasting disease, a deadly infection in deer, elk, and moose.

Read More