Business Journal— February 2017

Page 1

BUSINESS F O R S O U T H W E S T M O N TA N A

JOURNAL

MINISILICON

A CUT ABOVE

Clocking in with Kyle Barranger, owner of The Upper Cut PAGE 3 FEBRUARY 28, 2017

Success of Bozeman’s business accelerator, one of the first of its kind in Montana

STORY BY LEWIS KENDALL BUSINESS JOURNAL EDITOR

ON A RECENT Wednesday night, Montana State University channeled its inner Silicon Valley. There, a group of startup businesses gathered to present their various ventures — from a rideshare app to a bioengineered toothpick — in front of a crowd in the atrium of Jabs Hall. The startups, six in total, represented the first cohort of 406 Labs, the university’s business accelerator program. The night was a celebration for several reasons. Not only was it the first group of startups to successfully emerge from 406 Labs, it also represented a win for the accelerator — one of the first of its kind in RACHEL LEATHE/CHRONICLE the state. Claire Baker, co-founder of the Toothpick Project, was one of six groups from 406 Labs, a Montana State University business acceler“It’s not a funding presentation. ator program, who presented their ideas to a small crowd for the first annual Demo Day on Feb. 23 at the Jake Jabs College Business It’s a celebration of what they’ve Entrepreneurship on the MSU campus. done, an overview of their businessall-encompassing mentorship, 406 cifically focusing on entrepreneur received feedback on the viability of es and what they’ve done with the Labs focuses on venture coaching coaching and venture coaching, their product, as well as help with local community,” said program ditailored to individual startups. where we work with a specifi c market research and networking. rector Trevor Huffmaster. “It doesn’t In its fi rst year, the program’ s cohort of venturers for a 90-day Claire Sands Baker and her necessarily stop there. It’s not like scope was limited by a lack of fundperiod. It’ s much more intensive,” startup the Toothpick Project, were demo day (and then) we’re done. It’s ing. But following the receipt of a Huffmaster said. among this first group. The busi‘What’s the next step?’” pair of Small Business AdministraThe cohort includes three mobile ness hopes to eliminate a pervasive The program was first hatched tion grants, Craig brought Huffmasapps, a biotech company, a video weed called Striga — which chokes two years ago by Huffmaster and ter on to direct the program, leading game studio and a microscope crops and lowers yields in Africa — Blackstone Launchpad program dito the creation of the fi rst group — imaging venture. Over the 90-day through the use of a bioengineered rector Les Craig under the umbrella or cohort — of startups last fall. curriculum, the six ventures — fungus. of the Launchpad, itself a business “We really built off what we’ve spearheaded by a mix of current incubator based out of the univerMore MINISILICON on Page 4 done with the Launchpad, spestudents, alumni and faculty — sity. But where the Launchpad offers


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Business Journal— February 2017 by Bozeman Daily Chronicle - Issuu