The group will announce Friday morning at its annual Rainmakers Conference a plan to create 100 more funds across the country by 2016. Rainsource operates 23 angel funds in six states, including Minnesota, Iowa, North Dakota, South Dakota, Idaho and Montana.

It’s been a tough slog for early stage capital, lately. Affinity Capital Management and Triathlon Medical Ventures have suspended efforts to raise a $10 million seed fund in Minnesota. And the $1 billion fund biotech investor Steve Burill promised to raise for the Elk Run BioBusiness Park two years ago has yet to materialize. But there is some good news: the Minnesota Department of Employment and Economic Development has awarded $573,000 in tax credits during the first full month of the state’s shiny new angel investment tax program.

Has Diabetes Sentry Products Inc.’s time finally come? Or has the start-up already missed the boat?The Orono-based company, a semi-finalist in this year’s Minnesota Cup, hopes to raise $1 million to $1.5 million to develop a portable device that alerts diabetic patients when their blood sugar levels fall dangerously low. But some experts wonder if [...]

Battle-weary proponents of Minnesota’s historic $60 million angel tax credit had a simple message for the state’s entrepreneurial community:Now that we passed the darn thing, you better use it!“We’ve passed the baton onto you,” Sen. Kathy Saltzman (D-Woodbury) told the audience who gathered in Eden Prairie Monday to learn about the tax credit.var page_count = [...]

Investors rejoiced when Minnesota finally passed a five year, $50 million angel tax credit. Only one problem: the state’s largest angel group will be largely shut out.Under a last minute provision inserted into the bill, investors participating in angel deals through individual retirement accounts and family trusts will not be eligible for the tax credit [...]

By circumstance and design, crutches are not pleasant devices. If you need a set, it’s a good bet you did something that your knee, leg, or foot did not appreciate.In other words, crutches are just so darn depressing!Jeff Weber certainly thought so. Five years ago, the Minneapolis-based industrial designer broke his heel after falling off [...]

The company recently struck a deal with HED Cycling Products USA in Shoreview to sell software that records real time data like speed, power, and heart rate from bike-mounted sensors and view the information on an iPhone or website. Pedal Brain has already raised $250,000 from angel investors, about half of its Series A round.

Rep. Ann Lenczewski’s opposition to angel credits flies in the face of evidence, experts, and the collective political and business will of Minnesota.

Drug companies face bills that require disclosure of industry payments to doctors and funding for medication waste disposal.

Last week, Rep. Ann Lenczewski and House Speaker Margaret Kelliher held a press conference to tout a jobs creation bill. First item on the 26-page bill: a three year, $9 million tax credit to investors and funds with a heavy focus on “green” companies. To receive the credit, regional investment funds must devote 50 percent of its money toward “qualifying green job small businesses.”