Forecasts of the economic impact are still developing as the COVID-19 pandemic continues. Mary Meeker (famed for her annual Internet Trends report) released a report on coronavirus trends as an exclusive to Axios. Takeaways from the trends report include the acceleration of digital transformation, the inclusion of more scientists and domain experts, and the broad technological evolution of healthcare.
The report closes on a note of optimism, imagining the positive impacts the pandemic can produce if it brings people together to work for common good, saying, “We also need government, business, and entrepreneurial intervention at scale (deployed logically and effectively) to get to the other side. All must work together to ensure jobs and restart the economy so citizens have confidence they can work, have sufficient safety nets and take care of themselves, families and loved ones”.
Business and Entrepreneurial Intervention
Government intervention in the crisis is well-covered in the news (and in our last newsletter). As far as business and entrepreneurial intervention are concerned, Great North Labs has been busy. Our team has scaled up charitable giving to organizations. Our portfolio companies are responding in a variety of impactful ways. Our fund has continued investing in promising startups.
Nonprofits and other organizations that depend on events and donations are hurting at this time. One organization we support is the CentraCare Foundation, who is raising a COVID-19 Emergency Response Fund at this time. If you are interested in supporting them, donate before May 30th and your donation will be doubled due in part to a donation from our managing partners Rob and Ryan Weber.
People are mobilizing to help each other and fight the pandemic together. Our portfolio companies are active in the fight. Dispatch, Clinician Nexus, 2ndKitchen, and PrintWithMe have been supporting local businesses, supporting medical staff, and sourcing necessary supplies. You can read about their exploits, and more about charitable giving, in this recent article.

While Great North Labs has closed two unannounced deals since early March, it is no secret that venture investing overall has slowed down. Managing Partner Rob Weber shared his short- and long-term forecasts with MinneInno in a recent article about the effects of COVID-19 on VC.
“The bar for getting funded will certainly be even higher given the market turmoil, but should not deter founders from trying to raise altogether if they think they are VC ready,” Weber said. “Long term, I continue to remain very bullish on Minnesota and other Midwest-based startups.”
Founders Survey
Speaking of founders who are ready for VC investment, we are seeking anonymous responses from startup founders and co-founders on your awareness and opinions of early-stage investors in the region. If you are a startup founder in one of the following states: MN, IA, IL, WI ND, SD- please take our survey!
We value your opinions, and are providing completed survey respondents with a $10 Amazon e-gift card. E-gift cards are delivered by email, and can be used to credit your Amazon account for future use, or used for an immediate purchase.
Events
Due to public health and safety considerations, many events mentioned in previous newsletters have been rescheduled or canceled, including the Great North Labs Startup Summit 2020. Originally planned for August 27th, this year’s in-person conference has been canceled. We are exploring options for virtual events, and will keep you updated on changes.
Here are some virtual events that will still be held.
- May 7th is the E1 Ignite Cup Pitch Competition, hosted by Red Wing Ignite and their E1 Southeast Minnesota Partners. First place becomes an automatic MN Cup semi-finalist! Plus $500 cash from Great North Labs, 30 min. mentoring sessions from each judge, and a spot in the Startup School cohort from ILT Studios. Ryan Weber will be speaking.
- May 14th is gener8tor’s Lunch & Learn: VC and Fundraising Today. Rob Weber will be speaking along with Ann Winblad (Founding Partner, Hummer Winblad Venture Partners) and Sean Higgins (CEO, BetterYou) about the VC and startup financing future, post-COVID.
- May 14th is gBETA Milwaukee, Madison, and Northeast Wisconsin Virtual Pitch Night. Join the webinar to hear 5-minute pitches from the Spring 2020 startup cohort.
- May 15th is Walleye Tank: COVID-19 Showcase. Walleye Tank events are generally pitch events, but this one is in showcase format, with a focus on coming together to support COVID-19 solution initiatives. The showcase will highlight Minnesota innovators and community leaders stepping up to COVID-19 challenges. MN DEED Commissioner Steve Grove will speak, and 12-15 innovators and community leaders will tell their stories. The audience will be presented with various opportunities to help each of the leaders such as providing connections, mentoring, or funds.
- June 23-25th is Collision. Described by Politico as “The Olympics of Tech”, this massive annual tech conference is going virtual this year. With SXSW canceled this year, this may be the top tech event of 2020 after CES. Ticket prices go up today!
Portfolio News
In response to COVID-19, Inhabitr has postponed pickups when necessary, increased sanitation for pickups, and offered contactless delivery. Inhabitr is also offering cleaning supplies to customers for delivery alongside their furniture rental. Featured in this article, “DTC, subscription companies step up sanitation practices in answer to COVID-19“, CEO Ankur Agrawal shared how Inhabitr is helping local furniture businesses, ““Since the next 90 to 100 days will be dark for most local stores, the subscription model gives them an opportunity to stay afloat.”
2ndKitchen’s new contactless delivery product for breweries, 2Go, was mentioned in this article.
PrintWithMe was profiled by AmericanInno in the article “Need to Print? This Startup Will Deliver Documents to Your Door“.
Job Board
Dispatch is hiring a Director of Sales, Senior Manager of Enterprise Sales, Business Development Rep, Software Engineering Manager, UX Design Manager, Product Owner, QA Engineer, Senior Software Engineer, and Senior UX Designer in Bloomington, MN.
FactoryFix is hiring a Team Lead – Full Stack Developer, Full Stack Developer, and Infrastructure Developer- DevOps in Madison, WI; a Recruiter, and Business Development Rep in Chicago, IL.
TeamGenius is hiring a Customer Success Associate in Minneapolis, MN.
PrintWithMe is hiring a Regional Sales Director on the East Coast; a Software Engineer, Summer Strategy Intern (MBA), and Summer Strategy Intern (undergraduate) for Remote work.
Parallax is hiring a Customer Success Specialist, and Growth/Customer Acquisition in Minneapolis, MN.
Branch is hiring a Revenue Operations Manager, and Sales Development Rep in Minneapolis, MN.
NoiseAware is hiring a COO, VP of Global Sales & Account Management, Product Marketing Manager, UI/UX Designer, Account Manager, and Customer Advocate in Dallas, TX.

June Newsletter

Demystifying Startup HR

Head of Finance & Fund Administration- Venture Capital Firm (Remote)

Demystifying Startup HR

3 Portfolio Companies Make Inc. 5000 + Quicklly & Instacart Expand

3 Portfolio Companies Ranked on The Inc. 5000 List

iraLogix closes $22M + Branch expands with Uber

iraLogix closes $22M Series C

Flywheel lands Gates Foundation grant

Venture Capital Analyst

Orazio Buzza, Founder and CEO of Fooda – on Episode 13, “Execution is King”

$40M Fund II Raised!

Eric Martell, Founder of Pear Commerce: Episode 13, Execution is King

Great North Ventures Raises $40 Million Fund II

Investment Thesis: Fund II Strategy

Investment Theme: Community-Driven Applications

Investment Theme: Digital Transformation Through AI

Investment Theme: Solving Labor Problems

Trends in the Gig Economy + Work in the Metaverse

Portfolio raises $125M + talking fundraising with Branch CEO

Omnia Fishing closes $4M round, joins Great North portfolio!

Atif Siddiqi, Founder/CEO of Branch: Episode 11, Execution is King

Michael Martocci, CEO and Founder of SwagUp: Episode 10, Execution is King

Yardstik new to portfolio, closes $8M Series A

First venture studio startup comes out of stealth!

Insights for founders from a data guru, + FactoryFix raises a Series A!

Una Fox: Episode 9, Execution is King

Start With a Mobile App, Not a Website

2ndKitchen acquired by SoftBank-backed REEF + advice from an early Googler

Joe Sriver, 4giving: Episode 8, Execution is King

2ndKitchen Acquired by REEF

Venture studio startup jobs + advice for founders from founders

Best Advice from the Great North Annual Event: Episode 7, Execution is King

Newsletter: Do you fit our investing themes?

Jonathan Treble, PrintWithMe: Episode 6, Execution is King

Anna Mason, Revolution: Episode 5, Execution is King

Mynul Khan, FieldNation: Episode 4, Execution is King

Nick Moran, New Stack Ventures: Episode 3, Execution is King

Molly Pyle, Center on Rural Innovation (CORI): Episode 2, Execution is King

Justin Kaufenberg, Rally Ventures: Execution is King Episode 1

Newsletter: “Podcast Launched: Execution is King!”

“Execution is King” – the Great North Ventures Podcast

Newsletter: Fund II is open for business!

Unlocking the Potential of Anonymized Commercial Real Estate (CRE) Data

Fund II is open for Business!

Mike Schulte Promoted to Venture Partner

New Name + New Venture Studio

Great North Launches Startup Studio

We Don’t Need No [full-time MBA] Education

How the University of Minnesota is Embracing Startup Culture

Top Stories of 2020, iraLogix, and LaunchMN Calls for Mentors

Building Capacity for Innovation

Seizing Opportunity in a Recession, Allergy Amulet, and Twin Cities Startup Week

Recessionary times, a record-setting IPO, and Minnesota’s Resilient Startups

Minnesota's Resilient Startups

July 4th, Equitable American Dream-ing, and Robots Diagnosing COVID

Jumpstart, the Startup School, and Branch Wins a Webby!

COVID-19 Trends, the Great North response, and our Founders Survey

Giving in the Time of Coronavirus

COVID-19 Resources for Startups, State-by-State

COVID-19, the CARES Act, and startups stepping up

New Business Preservation Act

Digital Future Boardroom, PartySlate, and The Lean Startup School

Great North Labs’s Startup Summit 2020

Great North Labs's Startup Summit 2020

World Economic Forum, NoiseAware, and the Startup School reboot

Great North Labs at the World Economic Forum 2020 in Davos

Top 5 Stories of 2019

Taking the Founders Pledge, Inhabitr, and gBETA Pitch Night

Founders Pledge: Support the Organizations that Support You

BETA Showcase, Greater MN, and Launch MN comes to St. Cloud

7 Places to Spot Us at Startup Week

The Greater MN Meetup, Parallax, and Exponential Medicine

Greater MN at the big show, Neela Mollgaard heads Launch MN, and Misty’s roadtrip.

Talking VC, tech kids, and Forge North’s Horizon

June: Great North Labs’s first fund raised!

May: Innovation Ecosystems, SingularityU Kickoff, and PrintWithMe

April: Minnebar Recap, ZenLord Pro, and Supporting Entrepreneurs

MinneBar 14 Recap

Dispatch and 2ndKitchen claim Tech Madness titles

Minnesota Innovation Collaborative

March: Minnebar, Hockey + Hustlers, and Innovation Workshops

Great North Labs at CES

Dec.-Jan.: Top Posts from 2018, pepr, Glowe, and Misty Robotics

Carried Interest: Top Posts from 2018

Oct.-Nov.: Singularity University, Exponential Tech, and the State of Innovation

July: Pitchly, ForwardFest, and Where to Invest in the Midwest

Digital Transformation Summit, July 25th in Minneapolis

June: Silicon Lakes, FactoryFix, and the Digital Transformation Summit

Putting the “Silicon” in Silicon Lakes

Digital Manufacturing and Logistics

May: Team Genius, IoT, and the Future of Everything

IoT 3.0

Healthcare Innovation

March: Exponential Tech, the “Goldilocks Zone”, and Minnebar 13

February: Team Expansion, Dispatch, and Startup School Events

Great North Labs Newsletter – December 2017

A Letter To My Younger Self

Great North Labs Newsletter

Great North Labs Featured on Tech.mn

Great North Labs Featured in St Cloud Times

Great North Labs – Featured on BizJournals.com
