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August 2013 Archives

Joel Lebewitz, partner at Lurie Besikof Lapidus & Company and Minnesota Cup review board member, discusses how preparing financial forecasts will help you put together a clear and concise plan for investors. Know your operations, and the type of money you can get.

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The Innovation Engine recently spoke with Joel Donna, founder, president and CEO of 3Ring. 3Ring is a finalist for the 2013 Minnesota Cup and participant inThe Kauffman Foundation's FastTrac® TechVenture™ class, being offered by The Innovation Engine.

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Fifty-seven teams of semi-finalists in the ninth annual Minnesota Cup -- the statewide entrepreneurial contest that supports and accelerates the development of Minnesota's newest and most innovative business ideas -- worked throughout the summer to hone their groundbreaking business ideas. Today, the top three ideas in each of the six divisions in the Minnesota Cup -- Energy/Clean Tech, General, High Tech, Life Science/Health IT, Social Entrepreneur and Student -- will advance to the finalist round, and will compete for a share of $200,000 in prize money and the opportunity to bring their entrepreneurial vision into focus.

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Keynote speaker, Julie Gilbert Newrai, 2012 Minnesota Cup winner, Founder and CEO of PreciouStatus and WOLF Means Business, shared her entrepreneurial journey with inspirational words and complementing multimedia.

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On Tuesday, August 13, Messerli & Kramer hosted its fourth annual event for the Cup's semi-finalists at their law office in downtown Minneapolis.

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For many start-up and growing businesses, an international joint venture can be an excellent vehicle for doing business in foreign markets. This allows many businesses to explore and quickly develop capabilities with international contacts, sources, distribution of goods and services and even intellectual property. Additionally, solid joint ventures can help growing businesses with the sharing of start-up and operating costs and expenses while mitigating many risks. Furthermore, smart strategic joint ventures can help quickly expand domestic businesses much more quickly than if the start-up business would attempt such an endeavor alone.

However, the wrong joint venture with the wrong partner in the wrong market can be both very costly and ultimately detrimental to a business.

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