The gBETA Greater Minnesota St. Cloud accelerator announced Wednesday the four companies that form its Fall 2020 class.
The free accelerator, which is run by Wisconsin-based Gener8tor, lasts seven weeks and kicked off earlier this month. It's the second class for the accelerator, which was announced in 2019.
The accelerator is shorter than many and takes fewer companies per class. That's by design, said Precious Drew, the accelerator's director. The aim of the Greater Minnesota accelerator is to either place companies in an accelerator that takes an equity stake in companies or to help them raise a seed round larger than $50,000, she said.
The four companies will have access to mentorship from across the Gener8tor network, as well as from the accelerator's 18 sponsors, which include venture capital firm Great North Labs, the Greater St. Cloud Development Corp., and St. John's University.
"An accelerator is a great capacity driver and capital catalyst. As the only one in Greater Minnesota, gBETA Greater MN-St. Cloud also serves as a focal point around which startup founders, investors, and community supporters can coalesce," Ryan Weber, managing partner of Great North Labs, said in a statement.
Cohort companies will also work on pitching to investors. They'll market themselves publicly in a virtual pitch night on Oct. 22, Drew said.
The four startups in the gBETA Greater Minnesota St. Cloud accelerator Fall 2020 class are:
- Kimball-based Sproutary, which makes administrative software for preschools and daycares. Sproutary has 36 customers and has generated $40,000 in revenue; it was founded by Eric Helgeson.
- Rochester-based Shrpa, a platform where travelers can sort through user-generated tours and experiences. Shrpa has over 2,000 monthly users; it was founded by Chris Lukenbill.
- Edina-based LegalMaps, a platform that helps law firms and legal departments create budgets. LegalMaps has created a minimum viable product; it was founded by Gary Nelson.
- Red Wing-based Live.Give.Save, an app that helps users track their spending and make charitable donations. Live.Give.Save has generated over $75,000 in revenue; it was founded by Susan Langer.
