Startup Accelerator Gener8tor Gets $110K From Angel Group WIP

4/3/14Follow @XconomyWI

The graduates of gener8tor’s winter startup accelerator program will receive a funding boost thanks to a $110,000 investment in the program by Wisconsin Investment Partners.

Wisconsin Investment Partners (WIP), a Madison, WI-based angel investment group, is committing $11,000 toward each startup coming out of gener8tor’s three-month business boot camps this year. That includes five startups that went through the winter program in Madison, as well as the summer program that will be held in Milwaukee. The winter program concludes tonight with an event in Madison where each startup will pitch to a room of an expected 400 investors, entrepreneurs, business leaders, and government officials, gener8tor says.

The accelerator program’s companies are now guaranteed to receive $70,000 each in follow-on funding, thanks to investments from gener8tor, WIP, and Angels on the Water, an Oshkosh, WI-based angel investment group that began putting money into gener8tor companies last year.

“We’re excited to join with gener8tor in investing in the great companies emerging from their accelerator programs,” WIP co-manager Andy Shrago said in a press release.

WIP, formed in 2000, has more than 70 members that have invested nearly $20 million in more than 40 startups, primarily in Wisconsin, according to the press release.

Founded in 2012, gener8tor has invested in more than 20 startups that have attracted almost $20 million in outside funding and created nearly 100 full-time jobs, gener8tor says. Sixteen of those companies are based in Wisconsin.

Jeff Engel is the editor of Xconomy Wisconsin. Email: jengel@xconomy.com Follow @XconomyWI

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