Important information for MN inventors:
Click on the link below to read the statute authorized by the Minnesota Legislature addressing invention promotion companies operating in the state of Minnesota:
325A Minnesota Invention Services Act.doc
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Learn How We Work as an Invaluable Resource for Investors and Emerging Companies
Minnesota Angel Network
New access to start-up funds and high-quality deal flow via MNAN
Entrepreneurial companies and angel investors have a new and unique way to connect through the Minnesota Angel Network (MNAN). For high-tech and knowledge-based start-ups, MNAN provides customized counsel on fundraising and strategic planning. MNAN’s teams of experts–experienced investors, entrepreneurial CEOs, and senior legal and accounting professionals–engage entrepreneurs in interviews that mirror the rigorous questioning done by angel investors, and then give them guidance about how to improve their businesses. Designed to take 60 to 90 days, the program moves as quickly as start-ups can act on the team’s counsel and earn MNAN’s certification.
For accredited investors, MNAN provides access to deal flow with companies that have met the high standards required to acheive Minnesota Angel Network’s certification, many of which also meet the requirements of Minnesota’s new Angel Investor Tax Credit. MNAN reviews diligence documents before introducing companies to the network, saving time and effort for its investor members. Investors use a secure online portal to confidentially review vital documents from these carefully screened companies, which are each looking to raise $50,000 to $4.5 million.
Here’s what members are saying about why they value the Minnesota Angel Network:
“The Minnesota Angel Network is helping to build out the business infrastructure and climate needed to develop new businesses in Minnesota. MNAN has provided our company with access to people whose experience and expertise have allowed us to sharpen our strategies and business plan. In addition, the introductions we are getting as a result of being associated with the network are proving to be invaluable in our angel round and beyond. Before joining MNAN, we had funded our company with a total of $220K provided by founders and board members. Now, with commitments of $300K from MNAN’s strategic partners, we stand at just past the halfway mark, with $380K toward our $750K angel-round goal.”
- CEO, new software company
“Minnesota’s ability to compete in a global market and grow local jobs absolutely depends on an efficient and effective capital system. The Minnesota Angel Network is a key component to that system and will be instrumental in helping Minnesota and its entrepreneurs find the money and other resources they need to excel. Fredrikson & Byron is honored to be a part of the Minnesota Angel Network as a Preferred Service Provider and passionate advocate for Minnesota’s entrepreneurs.”
- Todd Taylor, Fredrikson & Byron
Minnesota Angel Network has had an outstanding show of support from Minnesota’s business and investment community so far. Thank you for your involvement and support! And be sure to forward this newsletter to friends and colleagues who may be interested in joining this effort to accelerate the growth of emerging companies in Minnesota.
Interested in Minnesota start-up company headlines? Wendy Lee’s blog on startribune.com is a great place to find the latest happenings within Minnesota’s startup community.
Looking to stay informed on global business and financial news? Bloomberg News is a great source for the latest world political, business, and financial reports.
Interested in news tailored to private angel investors? Angel Investor News provides the latest in investment, finance, and funding from an investor and entrepreneur’s viewpoint.
************************************************************************************************************************Contact: Inventor’s Network
612-353-9669
7:00 PM, November 15, 2011
A Successful Inventor’s Story – Lessons Learned
The inventor of the “Spiral Eye (R) Needle “, Pam Turner, will discuss the struggles and lessons she learned in bringing her invention to market. Coming up with the idea is the easy part of inventing, getting it to market is the real challenge, I will also cover the various ways of marketing and the basics of sales for inventors.
Speaker: Pam Turner
Pam’s Spiral Eye(R) Needles are now available for sale at Hobby Lobby stores, Nancy’s Notions, Herschners, and at her website.
As seen on Discovery Channel show, Pitchmen, Pam’s patent has been licensed to Telebrands (the As Seen On TV company) and their version of her needle is sold in 17 countries in all venues under the name “The One Second Needle”.
Learn more at her web site: http://www.spiraleyeneedles.com
Inventor’s Network
Place: Dunwoody College of Technology
Holden Center Meeting Room
818 Dunwoody Blvd
Minneapolis, MN 55403
Date: November 15, 2011
Time: Networking 5:30 – 7:00PM
Speaker 7:00PM
Doors open for registration:5:00PM
Fee: Non-members $15.00
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Governor Mark Dayton invites you to join him at The Governor’s Job Summit.Tuesday, October 25, 2011, at the Crowne Plaza Riverfront Hotel, St. Paul.
8 am – 5 pm, networking reception following from 5 – 7 pm.The Governor’s Job Summit is the capstone to Governor Dayton’s statewide tour of regional forums on Minnesota’s economy.Leaders from across the state will come together to participate in important discussions, generate new ideas, learn useful information and unify around a vision and plan for our state’s economy. We will focus on how to position Minnesota as a competitive leader in the global economy and how to build a strong future for our state.Attendees can look forward to:
- Hearing Governor Dayton’s remarks on the priorities for Minnesota’s economy
- Panel discussion on what is needed to make Minnesota more globally competitive
- Breakout working sessions covering timely issues/topics
- Keynote presentation from Michael Mandelbaum, co-author of Thomas Friedman’s new book, “That Used to Be Us: How America Fell Behind in the World It Invented and How We Can Come Back” (book released September 5, 2011).
Register now at www.PositivelyMinnesota.com/summit
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October 18, 2011
Market or License your Product Wisely
Inventors often don’t meet retailer requirements, for price structure and packaging, nor do they know what features and certifications are important. As a result, inventors often make mistakes from which they can’t recover. This is true whether they wish to license or sell the product themselves.
How do you avoid those mistakes? The best way is to get an industry insider to help during product development.
This talk will discuss:
- How to find these insiders
- How do you approach them
- Working with representatives
- Writing agreements
Speaker: Don Debelak, President, DSD Marketing
Don Debelak has over two decades of experience providing assistance to over 70 new products as a consultant and marketing manager. He has interviewed over 80 entrepreneurs for his monthly columns for Business Start-Ups and Entrepreneur magazines. Don has also started ventures based on new products including his current one that manufactures and sells particulate filters based on a Danish inventor’s new product concept.
Debelak has established himself as a leader in emerging business, published five books, has been interviewed on national radio shows, Internet shows and has been featured in leading newspapers including the Wall Street Journal and the Washington Post.
Debelak’s website offers assistance to inventors, new businesses and people with ideas through a variety of services from coaching to business plans to evaluations of a company’s business model.
Debelak’s books include:
- Bringing Your Product to Market: Fast Track Approaches for Cashing in on Your Great Idea in Less than A Year
- The Risk-free Entrepreneur: The Idea Person’s Guide to Building a Business With Other People’s Money
- Entrepreneur Magazine: Bringing Your Product to Market
- Think Big: Nine Ways to Make Millions from Your Ideas
- How to Bring a Product to Market for Less Than $5000
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5:00 PM Open for Registration
5:00 PM Loaning library open to members
5:30 – 6:15 PM Networking -
This is an opportunity to ask questions under a Non-disclosure Agreement (NDA) get free advice from other members without jeopardizing patent rights including:
- § Patent Attorneys
- § Experienced Product developers
- § Experienced Marketers
- § Get advice on Prototyping and Manufacturing
- § Get critical input on your invention
6:15 – 6:45 PM Changes to the Patent System
First inventor to File – The LEAHY-SMITH AMERICA INVENTS ACT was just signed into law. Patent attorneys Roger Belfay and Bill Berggren will outline how these changes will affect the independent inventors.
7:00 – 8:00 PM Main speaker
8:00 – 9:00 PM Questions and Networking
Place: Dunwoody College of Technology
Holden Center Meeting Room
818 Dunwoody Blvd
Minneapolis, MN 55403
Fee: Members: Free Non-members: $15.00
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Focus groups
If you would like constructive input about your invention, you may be given an opportunity to present your invention to the entire group during the meeting (covered by a NDA) without losing patent rights. (Contact Todd 952-451-1348 to schedule).
Greater Minnesota Resource and Procurement Fair
October 13, 2011
Jackpot Junction Casino
Morton, Minnesota
A Premier Event on Selling Your Products/Services to the Government and Resources to Start and Grow Your Business!
Hosted by: Lower Sioux Indian Community &
Jackpot Junction Casino
Schedule:
8:00 a.m. Registration
8:30 a.m. Welcome – Tatanka Ballroom
9:00 a.m. – 3:30 p.m. Trade Fair and Workshops
Small businesses interested in starting a business, growing a business, or doing business with government agencies and prime contractors should attend! There will be a trade show throughout the day, along with a variety of workshops including Starting a Small Business, Selling to the Government, Social Networking and Certifications. Native-owned, veteran-owned and woman-owned small businesses can learn about special programs designed to provide better access to the government marketplace.
