Startup accelerator gener8tor will expand into North Dakota with a new seed fund and three accelerators in the state.
Wisconsin-based gener8tor Management LLC announced June 29 it would launch a seed fund called “gener8tor 1889” and three accelerators in Fargo and Grand Forks in partnership with alternative assets management firm 50 South Capital Advisors LLC, according to a June 29 press release.
Gener8tor will launch an equity-based startup accelerator program in Fargo that will provide $100,000 investments to at least five startups per year that successfully compete for a space in the accelerator, according to the release.
The firm will also create two free non-equity based gBETA pre-accelerator programs in Fargo and Grand Forks that will support at least 10 startups annually with mentorship, company growth planning and pitch meetings with investors, according to the release.
All three programs will run annually for the next five years, according to the release.
“North Dakota has a wealth of entrepreneurial talent, and we are thrilled to bring our focus on investing in the best and brightest to communities throughout the State, from Williston to West Fargo,” said gener8tor co-founders Joe Kirgues and Troy Vosseller in the release. “Together, we will ensure that North Dakota startups have access to the capital and resources necessary to thrive.”
Gener8tor has served more than 800 startups across all of its programs since its founding in 2012, including Milwaukee-based Fiveable, Bright Cellars and Scanalytics Inc.
Milwaukee-based Investii Inc., a company whose behavioral finance platform encourages consumers to save money, received a $100,000 investment in June through gener8tor’s 2022 Madison program.
