'MOJO Minnesota' Launches!

7/6/2010




See a larger version of Business Journal article.		  

Brad Lehrman of Lommen Abdo and Ernest Grumbles of Merchant & Gould are founding "agitators" of MOJO Minnesota.

MOJO Minnesota is an innovation advocacy force comprised of like-minded business leaders working to fuel entrepreneurship and reignite Minnesota’s culture of innovation. We are business advisors, entrepreneurs, venture capitalists, angel investors and attorneys passionate about creating jobs and economic growth through the power of Minnesota based technology companies. Our goals are to provide a unique voice and support to Minnesota-grown innovation and shine the light on amazing new technologies developed here that will propel us into becoming a top 5 nationally ranked state for innovation and growth. We will do this through state policy advocacy, creating and hosting unique and interactive events and fostering an active and growing dialog that connects like-minded entrepreneurs, investors, industry groups and corporate partners in bringing Minnesota’s rich innovation heritage back into national prominence.

 

 
The launch party, with an invitation list of 100 people, had 108 show up to 'drum up' (literally – see the YouTube video) excitement and generate confidence among the state’s start-ups and policy makers. The need has been great. Minnesota is 30th in job growth from 2000 to 2007 and technology jobs have declined 11% since 2001. Over the last five years alone, Minnesota’s level of venture deals have declined by 5% while Ohio and Wisconsin together have grown over 210%.

'MOJO Minnesota' was formed to mobilize passion and pride for this important challenge with a mission of improving the innovation community in Minnesota. By focusing on policy issues, community awareness and funding initiatives, 'MOJO' will help drive innovation and job creation in Minnesota.

MOJO’s “initial agitators” lobbied for support of the recently passed Angel Investor Tax Credit. The law grants angel investors a tax credit worth 25% of their investment in a Minnesota start-up company. MOJO also plans outreach initiatives that include education forums on such diverse topics as Finance 101, an IP crash course for start-ups, using the Angel Investor Tax Credit and R & D Tax Credit or how to build a medtech or IT start up.  Read more about the Angel Investor Tax Credit.

'MOJO' is about energy and dynamic risk taking to leverage the strong legacy of innovation in this region and become a national hub for entrepreneurs with 'MOJO.'












 

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