From fast-growing companies to organizations effectively supporting the region's innovation economy and placing big bets on its future, the 2022 Fire Award winners are setting Wisconsin's tech scene ablaze.
The five winners were selected by three judges: Wisconsin Technology Council president Tom Still, angel investor and University of Wisconsin-Milwaukee chief partnership officer Jennifer Abele, and Frontdesk co-founder Kyle Weatherly. The judges chose the winners from a list of 15 finalists that Wisconsin Inno's editorial team selected based on publicly solicited nominations.
Geneva10
Category: Growth-stage company
- Headquarters: Delavan
- Founded: 2009
- Key leaders: CEO Mark Becker, chief technology officer Bryan Wright, vice president of sales and marketing John Pistone
Geneva10 was founded to help manufacturers sell their products on Amazon.com and has become a full-service distribution and third-party logistics provider. It currently has seven warehouses across the U.S. with a goal to add 10 more over the next couple of years, the company said. The company also has an online interior paint brand called Prestige Paints.
In 2022, the firm revamped its custom-built warehouse management system and saw double-digit growth across all of its divisions, which include Amazon direct, Amazon marketplace, third-party logistics and Prestige Paints. The company added 125 jobs in 2022 and says it's projected to finish the year with $135 million in revenue. Also this year, Geneva10 built an augmented reality-enabled paint app called ColorPic for Prestige Paints.
In 2023, Geneva10 projects $225 million in revenue and expects to add another 200 jobs. It plans to open additional warehouses and expand to Europe to help European manufacturers grow their business in the U.S.
The judges were impressed with Geneva10's growth metrics.
"Showing growth in employees and revenue is really where the rubber meets the road," Abele said. "They're ... very under the radar, just growing fast. It's really nice surprise, honestly."
Q&A
Why was Geneva10 able to be as successful as it has been this year?
"We live our core values, one of which is customer centricity through a flexible and personalized warehouse management system and eCommerce integrations, services designed to support each customer's unique needs and unparalleled customer service and attention."
How do you think Wisconsin’s tech ecosystem could best continue heating up?
"Host larger tech events in Wisconsin (Madison / Milwaukee) — currently most are in Chicago."
Who else is setting Wisconsin’s tech ecosystem ablaze?
"Rockwell Automation."
Gener8tor
Category: Ecosystem builder
- Headquarters: Madison
- Founded: 2012
- Key leaders: Founders Joe Kirgues and Troy Vosseller
This well-known startup accelerator operator and venture capital firm celebrated its 10-year anniversary and surpassed 1,000 startups served — 68% of which are led by underrepresented founders and 90% of which are located outside of major tech hubs. It runs more than 100 annual programs across 22 states and two countries and has around 150 employees.
As of 2022, startups who have participated in one of gener8tor's free, non-equity gBETA accelerator programs have collectively raised more than $536 million in follow-on funding. The startups who have participated in any gener8tor program, including equity- and non-equity accelerator programs, have collectively raised more than $1.3 billion, according to gener8tor.
gener8tor hit a composite 25% net internal rate of return for its fully-invested funds, which it says proves that investing across race, place and gender is a smart investment strategy.
"In my opinion, (gener8tor is), by far, doing the most important work in Milwaukee, Madison and also across the country," Weatherly said.
Q&A
Why has gener8tor been as successful as it has been over the last decade?
"gener8tor has made it its mission to reform and reshape the accelerator space. The company publishes its composite fund performance metrics alongside the underlying portfolio demographics, showing gener8tor funds consistently perform well above industry averages. ... gener8tor brings to light many of the investment disparities and tremendous potential across the larger venture capital space."
How do you think Wisconsin’s tech ecosystem could best continue heating up?
"We believe that investing locally and in underrepresented founders and underserved communities is the key to growth and success. ... In order to continue growing our inclusive economy and spurring innovation, Wisconsin venture capital must commit to investing more in our state."
Who else is setting Wisconsin’s tech ecosystem ablaze?
"Northwestern Mutual, Northwestern Mutual Black Founder Accelerator, and the accelerator’s managing director Precious Drew for their efforts around venture capital, specifically with investing in Black founders and entrepreneurs."
MKE Tech Hub Coalition
Category: Ecosystem builder
- Headquarters: Milwaukee
- Founded: 2019
- Key leaders: CEO Kathy Henrich, board chair Molly Mulroy
The MKE Tech Hub Coalition, which was founded with the goal of doubling the region's tech talent pool, says it's beginning to see an increase in perception of the southeast Wisconsin region as a tech ecosystem.
In 2022, the coalition's programs served more than 210 individuals and it distributed approximately $260,000 in grants through targeted initiatives. It hosted more than 250 events with over 2,300 professional and 18,000 student attendees. These programs exceeded the group's target of at least 50% participation from demographics traditionally underrepresented in tech, according to the coalition.
"I ... think that they're kind of hitting their stride this year," said Abele, who also serves as the MKE Tech Hub Coalition liaison for the University of Wisconsin-Milwaukee, a coalition member. "I really think that Kathy works hard to be extremely connected with both the founders and the investors and the corporate community."
This nonprofit organization founded by Northwestern Mutual and Advocate Aurora Health has grown to more than 130 corporate and community members.
Q&A
How do you think Wisconsin’s tech ecosystem could best continue heating up?
"Innovation, whether in our large companies, startups, or university research, is the key to continuing to 'heat up' the ecosystem. This requires attracting and developing the talent who can innovate. ... This innovation must then be fostered with funding and support. As a state, we need to make some “big bets” in our areas of strength: climate tech (power/water), health tech, fintech and manufacturing tech to ensure that these areas have the resources required to compete in the decades ahead."
Anything else you want to add?
"Never before has collaboration been more necessary. Growing a tech ecosystem, if done inclusively, is positive for the community. Collaboration across government, startups, corporations, post-secondary institutions, non-profits and other support organizations is necessary for growth. However, as we’ve compared ourselves to other ecosystems, there needs to be additional public investment in both talent and startups in order to keep pace with other regions. Tech jobs can occur anywhere. Geographies that invest will have outsized returns."
Kenosha Innovation Neighborhood
Category: Inno Picks
- Location: Kenosha
- Founded: 2021 (Date of Kenosha Innovation Neighborhood Inc. registration)
- Key leaders: Kenosha Mayor John Antaramian, Kenosha director of city development Tim Casey, Kenosha Innovation Neighborhood board chair and University of Wisconsin-Parkside Chancellor Debbie Ford
The city of Kenosha in 2022 adopted a master plan for a 107-acre innovation district on the city's former Chrysler plant site that could create up to 5,000 jobs in the next decade. Known as the Kenosha Innovation Neighborhood (KIN), it would include technology incubators and offices, education institutions, businesses, housing and green space.
This year, the city received a $15 million grant from the state to fund KIN's first innovation center building and to support the construction of a new building for LakeView Technology Academy on an adjacent parcel.
Also in 2022, KIN received its 501(c)3 nonprofit status and the city and KIN negotiated agreements under which KIN is empowered to develop the innovation neighborhood on city-owned land. The city has committed startup funding to KIN Inc. utilizing American Rescue Plan Act (ARPA) funds.
"It's a great example of collaboration," Still said. "You've got the mayor behind it, you've got UW-Parkside, you've got Gateway Technical College, you've got a variety of other partners in the private sector."
Q&A
What have been the latest developments with KIN?
"Phase-one infrastructure — consisting of sewer, water and storm sewer, three streets, sidewalks, a multi-use path, a public plaza and lighting — has been designed. A design competition with a number of architectural firms was conducted and a conceptual design for the innovation center was selected. The city and KIN have worked closely with Kenosha Unified Schools, Kenosha Area Business Alliance and Gateway Technical College on the agreements for the LakeView Technology Academy to be located across the street from the innovation center.
What can we expect from KIN in 2023?
"(Multiple streets within the neighborhood) will be constructed, along with all underground utilities in these rights-of-way. (The) design will be completed and construction will start on the innovation center. (The) design will be completed on LakeView Technology Academy and a construction schedule set. Several developers and firms have expressed interest in the site and we will continue to work with interested parties. The KIN board will conduct a search and hiring process for a lead staff position."
Formlabs
Category: Inno Picks
- Headquarters: Boston, new regional headquarters in Milwaukee
- Founded: 2011
- Key leaders: CEO Max Lobovsky, Formlabs head of Americas sales Brian Nies (based in Milwaukee)
This 3D printer company made headlines this year when it opened a major office in Milwaukee's Third Ward and committed to hiring 150 employees there within three years. The 20,000-square-foot space enables the company to expand its presence in the Midwest and support future endeavors with a growing team, the company said.
Since opening its Milwaukee office in September, Formlabs has hired 10 new employees there, bringing the office's total to 24, and says it has lots of hiring growth in progress.
Additionally, Formlabs this year hit 100,000 printers sold and more than 100 million parts produced on those printers. It announced the Hasbro Selfie Series, which will use 3D printing to manufacture personalized action figures at scale, and launched two new biocompatible resins that will expand the possibilities for 3D printing in medical applications such as surgical guides and prosthetics.
"We don't get many tech companies moving to Milwaukee or moving 150 jobs to Milwaukee," Weatherly said. "I was really excited about what it said about the city."
Q&A
What has been Formlabs’ first impressions of Milwaukee?
"The initial impression of Milwaukee has been extremely positive. The engagement with and by the local community has been amazing, the connection to local companies and educational institutions has been robust, and the pool of talent we have seen applying for open positions has been impressive. It is clear that the decision to make Milwaukee the next location for Formlabs was the correct one."
How do you think Wisconsin’s tech ecosystem could best continue “heating up”?
"It is important to continue the work that has already been started by groups like the MKE Tech Hub Coalition as well as the Wisconsin Economic Development Corp. to attract tech companies to the area by showcasing the vibrant and growing area around Milwaukee. At the same time, partnering with universities and tech schools to have the best-trained and prepared graduates will continue to give tech companies the confidence to grow or expand in this area."
