Madison-based startup accelerator gener8tor revealed this week an initiative it has quietly operated for the last three years that aims to connect tech startups with major corporations in hopes of launching partnerships and, in some cases, investment opportunities.
Dubbed Project North, the initiative originally started internally back in 2015. Since then, gener8tor says it has grown to one of the largest corporate innovation networks in the Midwest. Members range from Madison-based American Family Insurance and Marlborough, Mass.-based Boston Scientific, to Milwaukee-based Northwestern Mutual and Harley-Davidson.
“At this point, three years in, we felt Project North was becoming an open secret,” said Troy Vosseller, the co-founder of gener8tor, which also has offices in Milwaukee and Minneapolis. “We wanted to formally reveal Project North specifically to highlight the tremendous work being done by our members and the tremendous amount of time, effort and resources they have invested into the startup and corporate ecosystems."
Project North, funded by Madison-based 4490 Ventures, started after gener8tor began receiving several inbound requests from local corporate companies, particularly those that were already starting their own corporate venture capital and innovation branches, that wanted to be introduced to startups.
“While every large company has their unique set of circumstances and innovation opportunities, Project North is an excellent way to expand your experience set and learn from others,” said Dan Reed, the Vice President and managing director of American Family Ventures, in a statement.
Members of Project North have access to quartlery roundtables, where VCs and technologists can regularly connect. Additionally, gener8tor hosts retreats and organizes other trips for its members to ensure they can be exposed to opportunities across the country. Gener8tor said past trips have been to Silicon Valley, Boston and Seattle.
“Drawing corporations and startups closer has tremendous benefits,” said Greg Robinson, managing director of 4490 Ventures, in a statement. “By helping forge relationships between startups and corporate innovation and venture capital teams, Project North is creating a fast track for startup growth while also helping legacy corporations more easily transition amid changing economic trends. It’s had a significant and measurable impact on the local ecosystem.”
