WE Disrupt, an event hosted by the Holmes Center, is centered around the unique experience of female founders. Courtesy of The Holmes Center
The Office of Research and Innovation and the Holmes Center are helping companies start from the ground up with funding and advising.
The University of Minnesotaranked among the top four universities for startup creation in February. The University has supported companies in the medical, energy and environmental sectors.
The offices responsible include the Venture Center in the Office of Research and Innovation and the Gary S. Holmes Center for Entrepreneurship in the Carlson School of Business and Management.
Venture Center
Angie Conley, the director of the Venture Center, said the University is uniquely successful at supporting small businesses.
Since 2006, the Venture Center has supported roughly 250 startups, with 110 of them in the last five years, according to Conley. 80% of these startups are still operating.
“We’re an economic engine not just for the University, but also for the state of Minnesota,” Conley said. “Our companies have raised $3.4 billion in capital through venture capital, grants and public stock sales.”
Rick Huebsch, the associate vice president for research and innovation, said the office offers advising and assistance to companies.
“We begin helping them register as a company if they want to be a startup,” Huebsch said. “We help them understand their value proposition often, which involves interviewing and thinking through strategy.”
Huebsch said Venture works to talk about issues related to market opportunities and intellectual property.
Conley said that their expertise is helpful to those who are just starting a business.
“Often it may start as an academic or clinician, and they’re busy, they have a full-time job,” Conley said. “As you build a startup, it takes on a life of its own and becomes more. This is an opportunity to bring in people who have some domain experience and they can help them think through some of their challenges.
Holmes Center for Entrepreneurship
The Holmes Center in the Carlson School connects students with early-stage startups. The center hosts events, like the WE Disrupt Conference, that focus on women entrepreneurs.
Allison McDonald, the marketing and events manager at Carlson, said the WE Disrupt conference is among their most attended events. This year, roughly 500 people showed up.
“It’s relatively broad because female founders come from all different backgrounds of different stages and different industries,” McDonald said. “It’s just saying, ‘Let’s come together as entrepreneurs,’ not just like tech entrepreneurs or food entrepreneurs or fashion, it’s all of them under one roof.”
The Holmes Center offers a Startup Job Board, which connects students looking for experience and companies looking for support. Startups are able to sign up, and they post job listings that Carlson students are able to apply for.
The Center also hosts the annual MN Cup, the largest statewide startup competition in the country. The MN Cup program is open to anyone, even those without a company.
This year, almost 1,300 people applied online, including 60 students, McDonald said.
It can be isolating for many entrepreneurs when they start a company, McDonald said, as it is either one person or a really small team.
“Knowing that you’re not alone in that and you have people within this community that have been through it can really make a difference, not just on founders’ mental health, but on the success of their company,” McDonald said.
