Education nonprofit ECMC Group announced Friday that it is partnering with gener8tor to establish the OnRamp Education & Workforce Innovation Accelerator, a Twin Cities program that will mentor and support innovative companies in the education technology space.
Five startups will be invited to participate in the annual three-month program in Minneapolis. Each company will receive a cash investment of $100,000 in addition to office space, access to a network of education experts, mentors and investors provided by gener8tor and ECMC Group. Applications for the first cohort are now open.
"Partnering with gener8tor provides a unique opportunity to bring awareness, connections and capital to the Twin Cities – an area with a robust history of supporting innovation and entrepreneurship in education," Josh Slayton, senior vice president of business development, research and innovation at ECMC, said in a statement.
The new accelerator will follow gener8tor's OnRamp format, a model that connects startups, corporations and investors. The Midwest startup accelerator has similar programs in manufacturing, healthcare, insurance and agriculture. The OnRamp Insurance Accelerator, which gener8tor created in partnership with Allianz Life Ventures and Securian Financial, is also based in Minnesota.
ECMC Group is a Minneapolis-based nonprofit focused on helping students succeed through financial tools and services, career and technical education and funding for innovative programs. The organization also assisted with the creation of MN Cup's education and training division, which was added to the competition in 2018.
gener8tor was founded in Wisconsin and established a Minnesota presence in 2016. Since then, it has created accelerator programs in the Twin Cities and beyond in industries like medtech, insurance and more.
ECMC and gener8tor will also work together on the creation of the OnRamp Education & Workforce Innovation Conference, which will highlight innovations in the education industry. This one-day event includes a "startup track," where companies will be able to meet participating corporations, private equity firms and venture capital funds.
The inaugural event will be held on June 24 at Target Field in Minneapolis.
"The OnRamp Education & Workforce Innovation Conference will bring hundreds of education executives, investors and startups to the Twin Cities," gener8tor co-founder Troy Vosseller said in a release. "To build off those relationships, we are thrilled to team up with a seasoned group of leaders to invest in the best education and workforce innovation startups via the OnRamp Education & Workforce Innovation Accelerator."
