Archive for category: BrightStar News

BrightStar’s 2018 HATCH program will feature three Regional Finales in November

BrightStar’s HATCH program has produced ten preliminary competitions throughout the state this year, where more than 55 entrepreneurs had an opportunity to present their ideas. Ten of those participants each won $2,000 and qualified for an opportunity to “pitch” again in one of the three regional HATCH finales. They will be joined by other presenters that didn’t win their local event but had business ideas that were good enough to be given a second opportunity.

HATCH is a high-energy idea pitch program that offers entrepreneurs the chance to present their business ideas to supportive business and community members in a fun and highly social event format.  At each finale, regional semi-finalists will have five minutes to pitch in front of a panel of judges and a live audience for the chance to win the grand prize of $5,000.

Here are details for the three regional finales. Register to attend by clicking on the links below.

The Southeastern Wisconsin HATCH Regional Finale takes place at the Racine Metro Transit Center at 730 Washington Avenue in Racine on November 1.

The Chippewa Valley HATCH Regional Finale takes place at the Pablo Center at the Confluence located at 128 Graham Avenue in Eau Claire on November 8.

Please come and join us for these remaining events!

For additional information on BrightStar and Hatch, please email Fred Raasch at fraasch@brightstarwi.org or call him at 414-224-6000.

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BrightStar Wisconsin Announces New Venue and Presenters for Central Wisconsin Hatch Regional Finale

MILWAUKEE, WI (October 18, 2018) – Bright Star Wisconsin Foundation, Inc., a non-profit angel investment group that helps entrepreneurs grow their early stage ideas into businesses, announced that its Central Wisconsin HATCH Regional Finale will be held on November 7th at the Noel Car Barn located at 1995 River Bend Road in Plover, WI 54467.

“We’re thrilled that Compass Properties and the Noel family are hosting this event in the newly completed Noel Car Barn,” said Tom Shannon, President & CEO of BrightStar Wisconsin Foundation.  “It really is an incredible and unique venue. What’s more, John Noel is an inspiring example for our contestants, starting a business from the basement of his home and building it into a global travel and assistance organization that provided jobs for thousands of families.”

HATCH is a high-energy idea pitch program that offers entrepreneurs the chance to present their business ideas to supportive community members and businesses in a fun and highly social event format.  At the finale, regional semi-finalists will have five minutes to pitch in front of judges and a live audience for the chance to win the grand prize of $5,000.

The Central Wisconsin HATCH Regional Finale starts at 6 pm and is open to the public.  Space is limited so those interested are encouraged to register by going to the Hatch Central Wisconsin Regional Finale registration page and clicking the “register now” button.

BrightStar has produced ten HATCH preliminary competitions throughout the state this year, where more than 50 entrepreneurs had an opportunity to present their ideas. Ten of those participants each won $2,000 and qualified for an opportunity to “pitch” again in one of the three regional HATCH finales. In addition to the Central Wisconsin event, HATCH finales will be held in Racine on November 1, and Eau Claire on November 8.

The presenters and companies at the Central Wisconsin Hatch Regional Finale are:

Evan Schuelke from Flip’n Easy
Harold Tomesch from QikVin Wine Preservation
Layne Cozzolino and Mindy McCord from Siren Shrub
Michael More from The Scape
Nick Coglianese from Key Collector Comics Mobile App
Peter Jungwirth of Amira Learning

The HATCH events are funded by BrightStar with the help of a matching grant from the Wisconsin Economic Development Corporation, along with local donations and sponsorships. The Central Wisconsin Hatch events were supported by the Judd S. Alexander Foundation, Ruder Ware Law Firm, BMO Harris Bank and North Wind Renewable Energy Cooperative, and were hosted by Portage County Business Council, Wausau Entrepreneurial & Education Center, Marshfield Chamber of Commerce and Mid-State Technical College.  Greg Wright from Create Portage County has also been instrumental in sourcing and coaching entrepreneurs for all of the Central Wisconsin HATCH events.

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BrightStar Wisconsin Foundation Celebrates five-year mark. Foundation also announces investment in Socialeads

MILWAUKEE, July 18, 2018 – BrightStar Wisconsin Foundation this week celebrates the five-year anniversary of the foundation’s incorporation. In keeping with its unique mission of deploying donated capital into innovative, job-creating, early-stage Wisconsin companies, dubbed “venture philanthropy,” the organization has played a key role in the constantly developing entrepreneurial ecosystem throughout the state.

“Brightstar has been a strong champion of entrepreneurship and has pushed for more investment into early-stage Wisconsin companies,” said Aaron Hagar, vice president of entrepreneurship & innovation for the Wisconsin Economic Development Corp. “It has been instrumental in identifying new funding sources and bringing investment and opportunity to communities across Wisconsin.”

The foundation has funded 45 early-stage Wisconsin companies with a total of more than $6.5 million and has more than $1.7 million in cash or pledged monies available to invest.

BrightStar’s investment committee recently approved an investment in Socialeads. The company was formed recently in the Milwaukee area and won Northwestern Mutual’s reverse pitch competition earlier this year. It is launching a platform that allows sales teams in the financial services sector to understand the value of an individual’s social media network and better position products based on what is continuously learned through the platform.

“I’m excited that Northwestern Mutual and BrightStar could join the round and I’m looking forward to working with them,” said David Trotter, managing director at the Winnebago Seed Fund. “I think Socialeads reinforces the idea that we have all the ingredients for success here in the state. It’s a great story with talented Wisconsin founders, Wisconsin investors, and the company’s first potential customers here.”

It is anticipated that the Winnebago Fund will lead the investment round and Northwestern Mutual also will participate through its Milwaukee-focused Cream City Ventures fund.

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Brightstar’s 2018 Hatch program starts off with two successful events—11 more planned statewide.

MILWAUKEE, June 11, 2018 – BrightStar Wisconsin Foundation had a successful start to the 2018 HATCH entrepreneurial pitch program. HATCH is a rotating, high-energy idea pitch program designed to facilitate connections between prospective entrepreneurs and those within a community who support them such as industry experts, professional service firms, banks, non-profits, business leaders and investors. BrightStar funds these events with the help of a matching grant from the Wisconsin Economic Development Corporation and the support of local donations and sponsorships.

The Stevens Point Hatch kicked off the year on May 16. The event was held at Eron’s Event Barn, a unique venue just west of the city. Over 120 were in attendance to hear five entrepreneurs present their business ideas. The winner was Michael More of Stevens Point, the inventor of The Scape, a product that combines aspects of mobiles, light projectors and sound machines to lull infants to sleep. Michael won $2,000 and will be back at the Central Wisconsin Regional Finale on November 7 to compete for a $5,000 prize.

The second program of the year was in Kenosha on May 24 and was held at the historic Southport Beach House on the shores of Lake Michigan. Over one hundred people listened to pitches from five entrepreneurs. The winner of the $2,000 prize was Toby Thomas from Pleasant Prairie. His idea, called FreshEx, is an FDA-approved food packing product that helps stop mold from forming on products such as fresh berries, cheese and bread. Toby will present again and compete for the $5,000 Southeastern Wisconsin Hatch Regional Finale prize money on November 1.

New date announced for Eau Claire Hatch event

The date for first Chippewa Valley Hatch event in Eau Claire has been moved to July 21 and will held at the historic State Theater. The deadline for submitting an idea to present at this event is June 22. Go to www.hatchwi.com, scroll down to the “Submit an Idea” link, and fill out the application. You can also register to attend the event at this website by clicking on “Upcoming Events” and scrolling down to the “Register Now” button. This event and all of the other events are free and open to the public. They start at 6:00 pm and end at roughly 8:30 pm.

Remaining 2018 Hatch Schedule:
June 20 – Wisconsin Rapids at Mid-State Technical College Urban Forestry Lab, 500 32nd Street North, I Building, Room 142.
August 8 – Wausau (venue to be determined), hosted by the Entrepreneurial & Education Center
September 26 – Marshfield (venue TBD), hosted by the Marshfield Area Chamber of Commerce & Industry
November 7 – Regional finale in Stevens Point (venue TBD), hosted by Central Wisconsin HATCH

Northwest Wisconsin region schedule:
July 19 – Eau Claire at the State Theater, 316 Eau Claire Street, hosted by the Eau Claire Area Economic Development Corp.
August 9 – Menomonie (venue TBD), hosted by the Dunn County Economic Development Corp.
September 27 – Chippewa Falls (venue TBD), hosted by the Chippewa County Economic Development Corp.
November 8 – Regional finale in Eau Claire (venue TBD), hosted by Chippewa Valley HATCH

Southeastern Wisconsin region schedule:
July 25 – Racine at The Branch at 1501 Washington Avenue
September 20 – Kenosha (venue TBD)
November 1 – Regional finale in Racine (venue TBD), hosted by Southeastern Wisconsin HATCH

Brightstar is accepting applications from entrepreneurs who are interested in presenting their business ideas at all of the upcoming HATCH events. Go to http://newaukee.com/event/hatch/ and click on “Submit an Idea” link.

For questions about HATCH, contact Fred Raasch at fraasch@brightstarwi.org.

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BrightStar announces schedule for 2018 HATCH program

MILWAUKEE, April 30, 2018 – BrightStar Wisconsin Foundation today announced the schedule for the 2018 HATCH entrepreneurial pitch program. BrightStar is expanding the program from one region in 2017 to three regions this year, with the assistance of an Entrepreneurship Support Grant from Wisconsin Economic Development Corp that will match BrightStar’s expenses up to $65,000.

“WEDC was impressed with the success that HATCH had last year in supporting entrepreneurs in central Wisconsin and we look forward to seeing the same results as this innovative program expands to other regions of the state,” said Mark R. Hogan, secretary and CEO of WEDC. “We are pleased to be able to provide additional funding to offer more resources to entrepreneurs through programs like HATCH.”

In addition to the four central Wisconsin communities that hosted events last year, including Marshfield, Stevens Point, Wausau and Wisconsin Rapids, the program will expand to two other regions. The northwestern Wisconsin region includes the greater Eau Claire, Chippewa Falls and Menomonie areas, while the southeastern Wisconsin region includes the greater Racine and Kenosha areas.

HATCH is a rotating, high-energy idea pitch program designed to facilitate connections between prospective entrepreneurs and those within a community who support them such as industry experts, professional service firms, banks, non-profits, business leaders and investors. All of the central Wisconsin local events drew up to 150 people, and the finale had more than 300 people in attendance. At each program, several individuals or teams of individuals have the opportunity to pitch their best business idea to a panel of judges while substantive connections and networking occurs between attendees. Dates and cities for all of the events have been set, but most of the venue locations have not been finalized. All of the events start at 6 p.m. and end at roughly 8:30 p.m.

Central Wisconsin region schedule:
May 16 – Stevens Point at Eron’s Event Barn, hosted by the Portage County Business Council
June 20 – Wisconsin Rapids at Mid-State Technical College
August 8 – Wausau (venue to be determined), hosted by the Entrepreneurial & Education Center
September 26 – Marshfield (venue TBD), hosted by the Marshfield Area Chamber of Commerce & Industry
November 7 – Regional finale in Stevens Point (venue TDB), hosted by Central Wisconsin HATCH

Northwest Wisconsin region schedule:
June 21 – Eau Claire (venue TBD), hosted by the Eau Claire Area Economic Development Corp.
August 9 – Menomonie (venue TBD), hosted by the Dunn County Economic Development Corp.
September 27 – Chippewa Falls (venue TBD), hosted by the Chippewa County Economic Development Corp.
November 8 – Regional finale in Eau Claire (venue TBD), hosted by Chippewa Valley HATCH

Southeastern Wisconsin region schedule:
May 24 – Kenosha at Southport Beach House
July 25 – Racine (venue TBD)
September 20 – Kenosha (venue TBD)
November 1 – Regional finale in Racine (venue TBD), hosted by Southeastern Wisconsin HATCH

As more details for these events become available, they will be posted at http://newaukee.com/event/hatch/. Click on the “Events” link.

Brightstar is accepting applications from entrepreneurs who are interested in presenting their business ideas at upcoming HATCH events. Go to http://newaukee.com/event/hatch/ and click on “Submit an Idea” link.

For questions about HATCH, contact Fred Raasch at fraasch@brightstarwi.org.

About the BrightStar Wisconsin Foundation, Inc.
BrightStar is a 501(c)(3) non-profit foundation created to facilitate job creation and increase Wisconsin’s economic activity by deploying donated funds into equity stakes in early-stage, rapid growth companies. This unique approach is enabling the formation of new investment capital in Wisconsin through charitable donations to the foundation. Contributions to BrightStar are tax deductible.

About the Wisconsin Economic Development Corp.
WEDC leads economic development efforts for the state by providing resources, operational support and financial assistance to companies, partners and communities in Wisconsin. Working with more than 600 partners across the state, including regional economic development organizations, academic institutions and industry clusters, WEDC develops and delivers solutions that help businesses, communities and people maximize their potential In Wisconsin.

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BrightStar announces two new investments, releases 2017 annual report

MILWAUKEE, March 29, 2018 – BrightStar Wisconsin Foundation Inc. today announced that it has committed $100,000 to Cytometix Inc., d.b.a. Cmxtwenty, and $50,000 to GenoPalate Inc. Both companies are based in the Milwaukee area and have ties to the Medical College of Wisconsin.

During the past decade, Cmxtwenty developed a therapeutic pharmaceutical that is modeled after the body’s natural, pain-control chemistry. The result is a pain therapy that does not have the devastating effects of opioids and can be offered both orally and intravenously.

“Not only did BrightStar give us the capital essential to finishing our current clinical study, the foundation also assisted us with identifying prospective angel and other investors, which brought in substantially more capital as we take the next key steps towards commercialization of this powerful product in 2018,” said Lane Brodstrom, Cmxtwenty’s chief executive.  For more information about Cmxtwenty and its non-narcotic pain treatment, go to http://cmxtwenty.com.

GenoPalate last year completed the gener8tor program and offers diet plans based on an analysis of an individual’s DNA. A customer sends a saliva sample to the company and, in return, is provided a customized report reflecting his or her nutritional needs, including unique tolerances to food or alcohols, supplement suggestions, and personalized shopping lists.

“After a decade of research on how our genetics influence our metabolic health, my talented team and I are excited about bringing our science and technology to people’s daily lives for smart shopping and eating that can lead to their optimal health,” said Sherry Zhang, the company’s founder and chief executive.  “We are recruiting, hiring, and training talent for our high-tech health startup and collaborating with Wisconsin-focused organizations like BrightStar will expedite this process.” For more information about GenoPalate and the GenoPalate lifestyle, go to www.genopalate.com.

BrightStar also announced that it has released its 2017 annual report, which summarizes the organization’s investment and support activities during 2017. The report also highlights BrightStar’s portfolio companies and its job-creation progress in Wisconsin. To see a digital version of the report, click the link that follows: BrightStar’s 2017 Annual Report. If you’d like to receive a printed copy of the annual report send an email request to generalinfo@brightstarwi.org.

About BrightStar Wisconsin Foundation Inc.

BrightStar is a 501(c)(3) non-profit foundation created to facilitate job creation and increase Wisconsin’s economic activity by deploying donated funds into equity stakes in early-stage, rapid growth companies. This new approach will enable the formation of new investment capital in Wisconsin through charitable donations to the foundation. Contributions to BrightStar are tax deductible.

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BrightStar’s 2017 Annual Report

Dear Friends of BrightStar,

We are pleased to announce that we have released our 2017 Annual Report. A digital version is attached below. It summarizes the organization’s investment and support activities for the year as well as highlighting our portfolio companies and Wisconsin job creation metrics. We enjoy pulling the positive actions and results of each year together and giving it some color and personality to keep all of our supporters up to speed, and feel this year’s report turned out exceptionally well.  Enjoy, and please contact us with any questions or additional interests you may have.

BrightStar’s 2017 Annual Report

 

About the BrightStar Wisconsin Foundation Inc.

BrightStar is a 501(c)(3) non-profit foundation created to facilitate job creation and increase Wisconsin’s economic activity by deploying donated funds into equity stakes in early-stage, rapid growth companies. This new approach will enable the formation of new investment capital in Wisconsin through charitable donations to the foundation. Contributions to BrightStar are tax deductible.

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BrightStar announces new investments

MILWAUKEE, Feb. 14, 2018 – BrightStar Wisconsin Foundation Inc. today announced that it has committed $260,000 to two companies, Inventalator Inc., dba Ideawake, Milwaukee, and ImageMoverMD Inc, Middleton. These investments bring the total of companies BrightStar has invested in to 40 in the four years since its first commitment in February 2014. These investments also take the total amount invested by BrightStar in Wisconsin early-stage companies to more than $6 million.

“ImageMover has a chance to be one of the best investments we’ve made,” said Tom Shannon, BrightStar’s co-founder and CEO.  “The company provides health systems with the ability to integrate imaging technology into electronic health records more efficiently and securely, and already holds a number of substantial clients and partners in the marketplace. It’s a company we are excited about being our 40th investment.”

ImageMover is had its round led by Madison-based HealthX Ventures. For additional information, please go to www.imagemovermd.com.

Ideawake is a Milwaukee company that completed the gener8tor accelerator program last year. It offers software and plans that allow an organization’s customers and employees to participate and even help drive its innovation.

“From the moment it was described to me, I thought ‘how simple and how intuitive,’” said Jay Wigdale, founder of Lakefront Investment Partners and BrightStar’s newest investment committee member. “In the current environment where larger companies are attempting to engage their employees in unique ways and draw out innovation, I can see so many of them wanting to try Ideawake’s product.”

For additional information, go to www.ideawake.com.

About the BrightStar Wisconsin Foundation Inc.

BrightStar is a 501(c)(3) non-profit foundation created to facilitate job creation and increase Wisconsin’s economic activity by deploying donated funds into equity stakes in early-stage, rapid growth companies. This new approach will enable the formation of new investment capital in Wisconsin through charitable donations to the foundation. Contributions to BrightStar are tax deductible.

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HATCH pitch program winners announced

MILWAUKEE, Nov. 21, 2017 – The HATCH Finale was attended by a crowd of almost 300 people who gathered in Stevens Point on Nov. 9. HATCH is a community-based startup pitch platform that aims to convert strong ideas into business plans that can help launch new companies. The program was a collaboration between BrightStar Wisconsin Foundation, which supplied funding and leadership, and NEWaukee, which contributed its experience and expertise in executing programs like this. It was this partnership that made the four preliminary HATCH events and the recent finale event huge successes. Other strategic partners included the Wisconsin Economic Development Corp., Incourage Foundation, the Portage County Business Council,  the Marathon County Economic Development Corp., Current Wisconsin Rapids, Ignite, Marshfield Young Professionals, Create Portage County, and Compass Properties, which hosted the event in its private hangar at the Stevens Point airport.

“There sometimes can be questions about what is needed to expand the number of startup companies in Wisconsin,” said NEWaukee’s chief idea officer, Jeremy Fojut. “HATCH was able to spark positive change in central Wisconsin’s startup community through collaboration, cooperation, and building thoughtful in-person experiences that connected entrepreneurs to each other, resources they need, and the community.”
In a surprise ending, the judges were sold on two pitches: Caboosee and Arbré Tech. The winning companies split the $10,000 grand prize.

Pitches included:
Feed Manager | Carl Lippert – an app that helps farmers manage their livestock feed.
Arbré Tech | Matthie Vollmer and Ben Meyers – a product built to automate the data-tracking processes used in tree nurseries.
Unpublished.io | Daniel Packard & Maurice Woods III – a web platform for building and sharing research projects.
Cheiks | Elizabeth Olson – women’s underwear with revolutionary sizing.
Leak Syphon Flush Valve | Peter Parker and Landis Brozak – a product to reduce leaky toilets to achieve zero water waste.
Caboosee | Emily Blomberg – baby onesie and pajama technology that make it possible to easily check a diaper without removing the clothing.
Tapped | Jeremy Solin – flavor-infused, natural maple syrups.

For more information about HATCH, please visit www.hatchwi.com.

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BrightStar co-founder inducted into the Wisconsin Investor Hall of Fame

MILWAUKEE, Nov. 21, 2017 – Tom Shannon, CEO and co-founder of the BrightStar Wisconsin Foundation, a unique philanthropic capital investment group, was inducted into the Wisconsin Technology Council’s Investor Hall of Fame at the Wisconsin Early Stage Symposium in Madison on Nov 15. Mr. Shannon was selected by a panel of 10 judges that included the five past Investor Hall of Fame inductees.

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GeneralInfo@brightstarwi.org

414-224-6000

710 N. Plankinton Ave., Ste. 340
Milwaukee, WI 53203