Startup Accelerator, gener8tor To Expand Programs and Investments Into North Dakota

gener8tor to establish a North Dakota seed fund and three accelerators in Fargo and Grand Forks to invest in talent throughout the State

FARGO & GRAND FORKS, N.D.— In partnership with 50 South Capital Advisors, LLC, an alternatives asset management firm, gener8tor today announced the launch of a seed fund, gener8tor 1889, and three accelerators anchored in Fargo and Grand Forks, to provide support, mentorship and access to in-state and out-of-state capital to early-stage companies throughout North Dakota. gener8tor is a venture capital firm and startup accelerator network with a successful track record of investing across race, place and gender throughout the Midwest.

With the support of 50 South Capital, gener8tor will launch a flagship equity-based startup accelerator program in Fargo and two non-equity-based (free) gBETA pre-accelerator programs in both Grand Forks and Fargo. The programs will run annually for the next five years. All accelerators will be open to startups throughout North Dakota.

In partnership with 50 South Capital, gener8tor will also make select direct investments in other North Dakota-based businesses through gener8tor 1889, a North Dakota seed fund. This seed fund aims to grow the entrepreneurial ecosystem in North Dakota by investing in the best local startups while also attracting new startups to the State.

“North Dakota has a wealth of entrepreneurial talent, and we are thrilled to bring our focus on investing in the best and brightest to communities throughout the State, from Williston to West Fargo,” said gener8tor Co-Founders Joe Kirgues and Troy Vosseller. “The Midwest has been at the heart of our work to invest across race, place and gender and we look forward to partnering with 50 South Capital to expand that work in North Dakota. Together, we will ensure that North Dakota startups have access to the capital and resources necessary to thrive.”

Startups that successfully compete for a place in the gener8tor North Dakota investment accelerator will receive $100,000 investments from the gener8tor 1889 seed fund. gener8tor North Dakota’s investment accelerator will invest in and accelerate at least five startups per year. gener8tor will provide months-long and intensive guidance, support and introductions to investors for startup companies that are accepted into the investment accelerator.

The gener8tor North Dakota gBETA accelerators anchored in Fargo and Grand Forks will provide free, non-equity acceleration to at least ten startups annually. Through the gBETA accelerators, these North Dakota companies will experience a program focused on mentorship, customer discovery, creating value for consumers and communities, strategic planning for company growth, individualized coaching and pitch meetings with investors in North Dakota and from across the globe.

All three accelerators will hold free, in-person and virtual programming and office hours throughout the year for interested startups and small businesses throughout the State.

For more information on gener8tor North Dakota accelerators, please visit https://www.gener8tor.com/investment-accelerators/north-dakota.

###

 About gener8tor

Founded in 2012, gener8tor is a venture capital firm and startup accelerator network anchored in the Midwest United States. Ranked one of the top-15 accelerators in the United States, gener8tor operates programs for startups, musicians, artists, and workers and prioritizes investing across race, place, and gender. Fast Company named gener8tor one of the Most Innovative Companies in 2020 and one of the Best Workplaces for Innovators in 2021.

Visit www.gener8tor.com for more information.

About 50 South Capital Advisors, LLC

50 South Capital Advisors, LLC is an alternatives asset management firm designed to meet the core strategic needs of investors seeking access to private equity, private credit and hedge funds. Its highly experienced team works closely with a wide range of investors to fulfill specific investment objectives and create lasting relationships. 50 South Capital’s investment philosophy focuses on providing access primarily to small-to-mid sized managers that offer unique and differentiated sources of return. 50 South Capital is a wholly owned subsidiary of Northern Trust Corporation.

Visit www.50southcapital.com for more information.  

How accelerators help state and regional economies:

·       Accelerators improve regional entrepreneurial ecosystems by increasing financing activity for accelerator participants, but also for small businesses in those regions not participating in the accelerator.

·       Accelerators also help startups survive and thrive by reducing the business failure rate by more than 85 percent.

·       The venture capital that accelerators attract to regions has historically led to broad employment growth.

·      gener8tor aims to bring these results to North Dakota through its track record of accelerating hundreds of companies that have created approximately 8,000 jobs and gone on to raise more than $1.2 billion in follow-on financing or through exit events.