Archive for category: BrightStar News

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.

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.

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.

BrightStar Concludes 4th HATCH event, finale set for November

Todd Sobotka discusses HATCH on GrowthMinded Milwaukee Podcast

MILWAUKEE, Wis., Aug. 7, 2017 – The BrightStar Wisconsin Foundation recently created and sponsored its fourth installment of the HATCH pitch competition in central Wisconsin. HATCH is a community-based startup platform to help develop “napkin” ideas into early-stage companies. Partnering with organizations that include the Wisconsin Economic Development Corp. and NEWaukee, BrightStar has funded successful pitch competitions in Stevens Point, Wisconsin Rapids, Wausau and Marshfield.

Audiences and judges at the past HATCH events embraced the four event winners. At an historic firehouse in Stevens Point, Peter Parker and Landis Brozak of Leak Siphon Flush Value won that event, with their plan to significantly reduce toilet leaks and conserve water. In Wisconsin Rapids, the crowd at the Golden Eagle Log Homes cabin and showroom saw Matthieu Vollmer and Ben Meyers of Arbre Tech win the event there. Arbre Tech aims to automate the data-tracking processes used in tree nurseries.

At the YWCA in Wausau, Daniel Packard and Maurice Woods III pitched the winning idea with their Unpublished.io web platform, which is used for building and sharing research projects. In Marshfield at a vintage garage, Jeremy Solin of Tapped was victorious after pitching his flavor-infused maple syrups.

Each of the four winners received a $2,000 grant to pursue their business plan and a chance to compete for a $10,000 prize in the HATCH finale on Nov. 9. BrightStar will announce the Central Wisconsin location of the finale shortly.

The chairman of BrightStar’s investment committee, Todd Sobotka, discussed HATCH and broader Wisconsin early-stage activity on the GrowthMinded Milwaukee podcast with Todd McLees. The podcast is distributed statewide. To listen to Sobotka’s appearance on the GrowthMinded Milwaukee podcast, visit https://pendiogroup.savoinspire.com/brightstar/

The HATCH initiative demonstrates BrightStar’s commitment to fostering an environment of cooperation to achieve entrepreneurial growth. Sobotka elaborated on BrightStar’s goals during the podcast.

“With HATCH, we wanted to allow groups that can support startups to communicate with each other and potential new businesses,” Sobotka said. “The more I help BrightStar invest in exciting startups, the more I realize that people invest in people…. It takes time to build relationships, see how people operate, and know with whom you work best.”

BrightStar Wisconsin and NEWaukee Announce $2,000 Pitch Event Winner

HATCH Event Awards Prize to Unpublished.io

Wausau, Wis. – A crowd of 130+ gathered at the YWCA for the Wausau HATCH event on Thursday, June 22nd. Four businesses pitched their ideas to compete for a $2,000 prize. The winning pitch was made by Stevens Point based Unpublished.io.

HATCH is a community-based startup pitch platform that aims to convert strong ideas into business plans, which launch new companies. Partnerships across the state made this third HATCH event a success, bringing together Brightstar Wisconsin Foundation, the Wisconsin Economic Development Corporation, NEWaukee, and MCDEVCO. Other strategic partners include Current Wisconsin Rapids, Ignite, Marshfield Young Professionals and Create Portage County.

A panel of four local judges and a BrightStar executive deliberated on the winning pitch. Audience members also had the opportunity to vote for their favorite pitches and played a part in deciding the outcome. The jurors were: Dan Timm – Vice President SBA, Government Lending, River Valley Bank; Ann Werth – former City of Wausau Economic Development Director; Kevin Eichelberger – Owner, Red Eye Brewing Company and Patina Coffeehouse; Kimberly Reed – Business Instructor, Northcentral Technical College/Former Owner, Wausau to Go; Tom Shannon – President & CEO, BrightStar Wisconsin Foundation; and Erik Rajek – Assistant Vice President, Business Development Officer, Byline Bank.

“By taking a collaborative and experiential approach to building an ecosystem around ideas and entrepreneurship, we are seeing that community support continues to grow,” said Chief Idea Officer of NEWaukee, Jeremy Fojut. “It was the third installment of Hatch Wisconsin and it was great to see interest not only from Wausau but from the rest of Central Wisconsin and beyond. Not only are ideas being hatched on stage, they are forming in the room throughout the event.”

The winning pitch, Unpublished.io, is a web platform for building and sharing research projects. Unpublished.io will advance to the HATCH finale and pitch for $10,000 on November 9th, 2017.

Other pitches included:

PynPoints | Scott Gile – An app that delivers time and location-relevant messaging and advertising.

Gater App | Marko Knezic – A social media aggregation app that makes it easy for users of all experience levels to create topical, timely and dynamic content for all their social media channels simultaneously by bringing the most popular content creation features and information together in one utility.

Imaginar Mobile Escape Room | Rachel Jean Davis – A modular and movable escape room experience.

The HATCH series continues with the next event on July 19th in Marshfield, Wisconsin at 12 N. Central Avenue, Marshfield WI, (formerly Hudson’s Classic Grill). Submissions of ideas for the remaining Hatch events are accepted on a rolling basis with the deadline for Marshfield on July 12th. The finale is scheduled for November 9th, 2017, and the location will be announced at a later date.

For more information about HATCH, to submit an idea, or to become a resource partner, please visit: www.hatchwi.com

NEWaukee is a social architecture firm that specializes community-based signature experiences centered on high-profile issues of importance for cities across the country. NEWaukee also provides consumer, employer brand and talent engagement services to major employers looking to attract and retain talent necessary to grow their businesses. For more information, please visit: www.newaukee.com

Wisconsin Economic Development Corporation (WEDC) leads economic development efforts for the state by advancing and maximizing opportunities in Wisconsin for businesses, communities and people to thrive in a globally competitive environment. WEDC provides resources, operational support and financial assistance to companies, partners and communities in Wisconsin. Visit http://www.inwisconsin.com/ to learn more.

MCDEVCO invests in business development and community growth through the integration of resources. For more information, please visit: http://www.mcdevco.org/