| In This Issue
|'Angels love Wisconsin'
Investors' Edge slated for Appleton
4490 talks startups at WIN-MKE
Flu researcher to outline findings
Mdot Labs acquired by Va. company
Eau Claire startup raises $2.5M
Microsoft-AmFam program launches
Golden Angels holds EdTech Day
Deals, acquisitions and news
| Did You Know?
|Median angel round sizes were up to $980,000 and median pre-money valuations were up to $2.7 million, according to Q1 2014 "Halo Report" data. 75 percent of deals were done in angel groups' home states in the quarter.
| Become a WAN Member
|Your $750 WAN membership also includes a membership to the Wisconsin Innovation Network (WIN). This "dual" membership is a $500 value included at no additional cost to you.
Your WIN membership entitles you to one free pass to both major conferences (Wisconsin Entrepreneurs' Conference and Early Stage Symposium), as well as regular WIN events in Madison, Milwaukee, Appleton, Central Wisconsin, Western Wisconsin and the Lake Superior regions.
For more information on WAN memberships, call 608-442-7557 or click here to join.
| WAN Leadership
Tim Keane (Chair)
Golden Angels Network
Wis. Economic Development Corp.
Shamrock / BrightStar Foundation
Wisconsin Technology Council
Wisconsin Investment Partners
Angels on the Water
Emeritus: Lorrie Keating Heinemann, co-founder
| 'WisBusiness: The Show'
|On the latest episode, Liz Schrum speaks with Maurice Cheeks, director of the Wisconsin Innovation Network, about what's next for the organization. Tom Still argues that outsourcing is a part of doing business in the modern world, and the WisBusiness.com Stock Report covers startup companies and consumer spending.
Arjun Sanga, WiSys
Mark Reinstra, WSGR
| Wisconsin Technology Council
|The Wisconsin Angel Network is a program of the Wisconsin Technology Council.
Join the Tech Council's mailing list to stay up-to-date on news, events, programs and more!
Other quick links:
Wisconsin Innovation Network
Tech Council Newsroom
Inside Wisconsin by Tom Still
| Newsletter Sponsors
'Angels love Wisconsin'; Great Lakes leads in angel funding
Inc. magazine called out Wisconsin and the Great Lakes region in this month's issue, based on a new
"Halo Report" from the Angel Resource Institute showing the region invested in more deals than most other areas of the U.S.
Wisconsin was identified as a leader in the Great Lakes region, which also includes Michigan,
Illinois, Indiana and Ohio. Those states accounted for 17 percent of all angel
deals in the first quarter of 2014. (download the full report)
Wisconsin Investment Partners, a Madison
angel group and long-serving Wisconsin
Angel Network member, was among the 10 most active angel groups in the country. The group
closed on at least eight deals in the quarter, across a number of sectors, from
companies working on new vaccines to online website tracking. Manager Andy Shrago told the Wisconsin State Journal the activity is a testament to Wisconsin's strong deal flow.
|Investors' Edge workshop to feature national angel leader
Returning to Wisconsin by popular demand, a deep-dive workshop coming to Appleton on Sept. 18 will focus on what angels, entrepreneurs and others who work with startups need to know about raising capital.
Produced by the Wisconsin Angel Network, the Investors' Edge workshop "Trends in Raising Early Stage Capital" delves deeply into
best practices in the capital raising environment. Robert Okabe, the board director of the Angel Resource Institute and managing director of RPX Group LLC, will be leading the afternoon workshop at the Fox Valley Technical College in Appleton. Lunch and an evening reception will be provided and attendees will receive a detailed 80-page workbook to follow along and take with them for their next deal.
Check out the event website for more information or contact Wisconsin Angel Network Director Dan Blake.
|4490 head outlines Wis. landscape at WIN luncheon
Greg Robinson, the
managing director of the new 4490 Ventures fund, compared Wisconsin
with his 10 plus years of experience in Silicon Valley at the August
early findings in Wisconsin are that he sees a lot of entrepreneurial activity (a
pleasant surprise, he said) and plenty of program support for entrepreneurs
around the state. Robinson said the "building blocks" are present in
Wisconsin, but also said local investors need to play for more than "a single"
and sees a need for more connections between Wisconsin's corporations and startups, an ongoing
effort with events like the recent Wisconsin Tech Summit.
Read more about
Robinson's comments and how they compare to the Silicon Valley landscape in
John Torinus's recent column.
|UW-Madison flu researcher to outline findings at WIN meeting
researcher Yoshihiro Kawaoka will discuss his work surrounding a potentially
deadly avian flu virus at the Tuesday, Aug. 26 luncheon of the Wisconsin Innovation Network in Madison.
engineered an avian virus that is nearly, but not precisely, identical to one
that killed 40 million people in 1918 to show that it is possible for pathogens
already present in nature to repeat some dreadful history. Kawaoka is also
conducting two types of Ebola studies on campus.
“As the recent Ebola
virus outbreak in West Africa has demonstrated, the ability of pathogens to
spread quickly is a challenge that requires creative thinking by researchers
and human health experts,” said Tom Still, president of the Wisconsin
Read more and get
registered for the luncheon.
Madison ad-fraud detection startup acquired
MdotLabs, a Madison
company started by UW-Madison Professor Paul Barford and Timur Yarnall, was
acquired by comScore, a publicly-traded internet analytics company based in
The larger company
said it plans to use Mdot to help with detecting non-human traffic in digital
“The MdotLabs team
is thrilled to join comScore as we look to scale the value of our non-human
traffic detection methods to a much greater footprint of clients,” Yarnall said in a statement announcing the deal.
included Great Oaks Venture Capital, Chicago Ventures, AmFam Ventures and angel
investor Ray Zemon, among others.
|Eau Claire startup raises $2.5M; adds to Chippewa Valley's profile
Invisible Connect, a
hardware startup that has been quietly building out its offices in Eau Claire,
has raised a $2.5 million seed round from an individual investor, according to
a recent SEC filing.
The company has only
publicly disclosed that it is creating "new technology that will disrupt
an established industry that has not had true innovation in over 60
years." The size of the funding round, from only one investor, is unusual
to see, according to Xconomy, which first reported the investment.
|Microsoft-AmFam accelerator announces 1st class
A new accelerator being run as a partnership between Microsoft and American Family
Insurance announced its inaugural class of 10 startups. The accelerator,
focused on home automation and the Internet of Things, will be hosted on the
Microsoft campus in Washington. Scanalytics, a Milwaukee company with a platform
for sensor-based analytics and engagement, was among the companies selected.
Read more about the
Campus innovations chosen for new D2P program
A new program to
help take promising projects from the UW-Madison campus and help them get to
market announced its first 17 projects, with the largest number made up of
medical technology innovations.
A total of 172
proposals were received for the new "Discovery to Product," or D2P
program, which is a partnership between UW-Madison and the Wisconsin Alumni
Research Foundation (WARF). Most of the teams will receive grants, allocated
from the state, as they reach certain milestones, Program Director John Biondi
told the Wisconsin State Journal.
|Golden Angels holds EdTech venture day, drawing outside companies
from San Francisco, Minneapolis, Chicago and Wisconsin pitched the Golden
Angel Investor Network during the group's 3rd annual EdTech Day in Brookfield earlier
this month. Xconomy wrote about some of the takeaways from the morning event.
Golden Angels, which
is the largest angel group by membership in the state, was also recently
featured on WTMJ in Milwaukee. You can watch the report here.
| Deals, acquisitions, exits and news
|Abodo, a Madison online rental marketplace, closed a $1.25 million Series A round, led by American Family Ventures. Other investors included 4490 Ventures, and Lakewest Venture Partners in Chicago. Xconomy
Microscopy Innovations, a Marshfield company that makes a system for preparing microscope specimens, raised $410,000 from angel investors as part of a larger funding round. Milwaukee Journal Sentinel
Wantable, a Milwaukee makeup and fashion accessory e-ecommerce service, raised $1.5 million in Series A funding. Milwaukee Business Journal
My Health Direct, a Brookfield company with a cloud-based medical scheduling solution, raised $600,000 in a larger funding round, according to an SEC filing. The company has raised more than $14 million since its founding in 2005. Xconomy
Silatronix, a Madison company developing new materials for safer use in lithium-ion batteries, closed $2.8 million in a larger funding round. Investors have included Venture Investors, Venture Management, the Pyle Group and Wisconsin Investment Partners. Milwaukee Journal Sentinel
|Aug. 26 - UW-Madison researcher to outline new influenza virus, WIN-Madison
Sept. 11 -- UW-Madison Chancellor Becky Blank on statewide economic development, WIN-Milwaukee
Sept. 18 -- Investors' Edge, Trends in Raising Early Stage Capital, Fox Valley Technical College, Appleton
Nov. 12-13 - Wisconsin Early Stage Symposium, Madison, Monona Terrace