This past week, I had the pleasure of attending Wisconsin’s 2024 Early Stage Symposium in Madison, Wisconsin, on November 13th and 14th. Organized annually by the Wisconsin Technology Council, the event serves as a gathering place for investors, founders, and ecosystem partners across the region to foster collaboration and investment. As a Minnesota-based investor, I’ve been attending this event regularly since we launched our fund in 2018.
While I noticed a slight dip in attendance from the investor crowd, likely due to the broader trend of a 25% decline in active venture investors year over year, the energy and innovation from the startups were as vibrant as ever. The ecosystem in Wisconsin is alive and well, and I left the event feeling optimistic and inspired. Here are some reflections from the symposium, including a touch of friendly controversy.
The Elevator Pitch Olympics
I had the honor of serving as one of four investor judges for this year’s Elevator Pitch Olympics alongside Christian Moran (Pegasus Tech Ventures), Danny Pantuso (Mucker Capital), and Michael Thorson (Inventure Capital). The competition featured 16 early-stage startups delivering 90-second pitches in front of a live audience of several hundred spectators.
Selecting winners was no easy task given the diversity and quality of the pitches. Some of the standout participants included:
- Archetto, LLC (Madison): An app for learning musical instruments.
- Block Time Financial (Delafield): Blockchain solutions provider.
- Laser Comm (Madison): Methane leak detection through laser technology.
- SmartTriage Pod (Madison): AI solutions for emergency room triage.
- Tailored Remedy (Milwaukee): AI-based medical information tool.
The breadth of industries represented, from SaaS to advanced AI and even custom guitar manufacturing, demonstrates Wisconsin’s growing diversity in early-stage innovation.
Investor Matchmaking
In addition to the pitch competition, I participated in the investor matchmaking program, meeting with nine startups for one-on-one discussions. The matchmaking process, which involved over 50 startups, was well-organized and highly effective. I thoroughly reviewed all the startups ahead of time, and the conversations were productive and insightful. While many of the startups were Wisconsin-based, the event also attracted participants from neighboring states. For early-stage investors, there was something for everyone.
Ecosystem Highlights
The symposium is more than just a showcase for startups; it’s also an opportunity to understand how the regional ecosystem is evolving. A few highlights from this year:
- WARF’s Century of Impact: Erik Iverson reflected on 100 years of work by the Wisconsin Alumni Research Foundation (WARF), emphasizing their role in protecting research and facilitating partnerships with companies.
- UW-Madison’s Morgridge Hall: Set to open in fall 2025, this privately funded building will be a hub for data, technology, and computing.
- NSF’s I-Corps Program: Thanks to Bonnie Bachman and the Technology & Entrepreneurship Office, the I-Corps program is helping researchers translate their innovations into market-ready technologies.
- Mark Bakken’s Hall of Fame Induction: HealthX Ventures’ founding partner Mark Bakken was recognized for his contributions to digital health startups. His recent collaboration with NVNG Fund of Funds showcases Wisconsin’s growing investment resources.
The Great Lake Debate
No conference is complete without a bit of spirited debate. Someone claimed that Wisconsin has more lakes than Minnesota—a bold statement to make in front of a Minnesotan! After some fact-checking, it turns out that Wisconsin does have more total lakes if you include even the smallest bodies of water. However, Minnesota leads by far when counting lakes that are 10 acres or larger. The “Land of 10,000 Lakes” wins this round!
Final Thoughts
The Wisconsin Early Stage Symposium once again proved its value as a platform for discovering promising startups and fostering connections within the regional ecosystem. I left with several new investment opportunities to pursue and a renewed appreciation for the hard work being done to grow innovation in the Midwest.
A huge thank-you to the Wisconsin Technology Council for organizing such an impactful event. I’m already looking forward to next year!
Photos from the event:
Tom Still (President of Wisconsin Technology Council) and Erik Iverson (WARF)
Mark Bakken and his family and team from HealthX Ventures at the award ceremony.
