Entrepreneur Profiles: Sofia Fund on the Fundamentals of Fundability
The burgeoning number of innovative startups in Minnesota’s science and tech community should be attracting more attention from early-stage funders, or angel investors, from across the U.S. and beyond. But for startups to draw more outside capital, says Cathy Connett, CEO and managing partner of Sofia Fund, “We need fundable business models.”
Cathy Connett, Sofia Fund co-founder
Entrepreneurs need to understand the fundamentals of fundability, says Connett, to know which kind of startups get early-stage funding, and which don’t.
Sofia Fund is a Minnesota-based angel capital fund which invests in high-growth women-led businesses. Connett and her partners have been investing in companies for more than 30 years, either as individuals or as part of the Sofia Fund. Sofia Fund is seeking more, and stronger, opportunities to invest. To achieve that, says Connett, “We’re trying to improve the financial sophistication of women entrepreneurs, to help them understand what investors value.”
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Innovators: Apply now for the 2018 Tekne Awards
The Minnesota High Tech Association is inviting innovators in science and technology from across the state to apply for the prestigious Minnesota High Tech Association Tekne Awards. Applications are now being accepted through Aug. 3, 2018, and the ceremony announcing finalists for the Tekne Awards will be on Nov. 29 at the Minneapolis Convention Center.
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Entrepreneur Profile: Quench Medical Finds Funding Via MN SBIR
Quench Medical is on a quest to bring life-changing improvements to treat asthma. As CEO and founder of Quench Medical, Bryce Beverlin II, PhD, has been working to commercialize his startup company’s patented process for aerosol delivery of asthma medication deep into the lungs’ small airways.
“We’ve developed a daily control medication that has the potential to control inflammation in the lungs,” Beverlin says. While existing FDA-approved drugs reach about 15 percent of lung airways, Quench Medical has shown its aerosol-based medication reaches 80 percent of the lungs. “This is truly a next-generation therapy.”
The strong potential for Quench Medical has attracted attention from numerous supporters, one of whom has been Pat Dillon, director of the MN SBIR program based at the Minnesota High Tech Association. MN SBIR is part of America’s Seed Fund, which provides federal investments for Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR). Read More ›