Milwaukee-based startup accelerator gener8tor has partnered with Microsoft Corp. and several colleges to offer its gBETA program in northeastern Wisconsin, with the aim of boosting entrepreneurship in the region.
The partnership includes the University of Wisconsin-Oshkosh Business Success Center, Fox Valley Technical College’s Venture Center, WiSys, UW-Green Bay’s Cofrin School of Business, the Greater Oshkosh Economic Development Corp.
gBETA Northeast Wisconsin’s first cohort began in late October and the five participating companies, which gener8tor declined to name, will graduate in December.
Five companies will be selected for each cohort of the program, which will be offered twice per year. Participants must have roots in the region, but can be from any industry. They will receive mentorship, coaching, and connections to the gener8tor customer, partner and investor network. The free program is being sponsored by the Microsoft-led group.
gener8tor’s eponymous seed accelerator program accepts just five companies per year, and invests $20,000 in each in return for an equity stake. It receives hundreds of applications from across the country each time it is offered.
Since there are many companies in Wisconsin that are not able to participate in the seed accelerator, gener8tor offers gBETA, which helps fledgling businesses with local roots become competitive for angel financing or accelerators. In May, gener8tor launched gALPHA, an even earlier stage program to foster entrepreneurship by helping innovative people explore ideas.
“Emerging companies need more than just a great idea to take off. They need great coaching, a strong network of partners, and financial investors,” said Brad Smith, president of Microsoft. “gBETA’s accelerator program gives startups the boost they need to be successful, ultimately creating more jobs in northeast Wisconsin.”
“Northeast Wisconsin has all of the raw materials needed to build a high growth startup ecosystem. We are excited to work with this broad and diverse coalition to support entrepreneurs in northeast Wisconsin,” said Maggie Brickerman, managing director of gBETA.
