NMotion was a Lincoln startup just ten years ago. On January 10, 2024, the organization powered by gener8tor celebrated its tenth anniversary of helping startups grow and prosper.
A theme for the evening was “Great Trees Never Grow Alone.” The event included an introduction to the latest five companies graduating from the NMotion Venture Studio, reflecting on the accomplishments of the last ten years, and looking ahead at the future of Silicon Prairie startups.
The Lincoln Commercial Club was filled with enthusiasm from representatives of some of the 94 companies helped by NMotion over the years, Lincoln startup scene enthusiasts, and those involved in the latest five companies.
“I’m extremely proud that 80% of those who have gone through NMotion are still here [in Nebraska],” said Scott Henderson, gener8tor General Partner and NMotion Managing Principal. As he thanked those involved in the operation, including an impressive list of “Hometown Heros” and individual investors, the room echoed with applause and cheers.
Thanks to our sponsor
NMotion was launched in 2013 by NUtech Ventures, the nonprofit technology commercialization affiliate of the University of Nebraska-Lincoln. Current NUtech Ventures Executive Director Brad Roth, Ph.D., accepted an NMotion award on behalf of NUtech for its role in helping start the accelerator.
Brian Ardinger and his wife, Susan Stibal, were recognized with NMotion awards for their ongoing work with startups, including Ardinger’s role in coordinating the first NMotion cohort. “I loved bringing together folks to create and collaborate,” Ardinger said. “And I loved the momentum that was created when you put smart, talented folks in a room and challenge them to build something.”
Ardinger said he was initially met with skepticism when he talked about the concept of an accelerator to help startups in Lincoln.
“But we found enough folks willing to test, try, experiment and create something new. The experiment worked! I’m proud of the hundreds of companies and thousands of people that have been a part of NMotion, and the impact we’ve had on Lincoln and the region.”
Among “the trees” that surround Nebraska’s startups, recognition was also given to Invest Nebraska, Lincoln Partnership for Economic Development, attorney Bart Dillashaw, Nelnet, Quantified Ag Founder Vishal Singh, LiveBy Founder Cory Scott, as well as advocates for NMotion’s expansion across Nebraska Paul and Annette Smith, and Mike Cassling.
Over the past several years, up to six companies at a time have been given the opportunity to participate in a 12-week highly focused accelerator effort to help them grow revenue and attract investors. NMotion also offered a venture studio that helped individuals and teams with an idea turn it into a promising business. Since its founding in 2013, NMotion has worked with 94 companies, 36 of which have received $48.7M in follow-on funding.
During the last half of 2023, the NMotion Venture Studio included Placemaker Pop-Up with founder and CEO Mansa Latham; Jewel Intentions with founder and CEO Jina Hwang, Ph.D.; Enzo with founder and CEO Tamio Stehrenberger; Datomate represented by Amit Khanna, founder and CEO; and Road Sentinel represented by Scott Kroeker, founder and CEO. The anniversary celebration included presentations from the five companies that offer services or products ranging from highway safety to customizable jewelry.
Called “The Moonshot Cohort,” the participants spent their time participating in the NMotion Venture Studio meeting with mentors, working on developing their product or service, twice a week meetings as a cohort, talking with investors, meeting with each other and participating in retreats. It was an intense three months with the ultimate goal of growing a promising startup into a viable business with a solid plan to get there.
Henderson said that in 2024 NMotion will pause the Venture Studio cohort and will instead lead two Growth Accelerator cohorts. He said this is a direct response to shifting needs in the ecosystem due to the high number of early stage companies currently being built in the region. This shift could result in making follow-on investments in startups with an existing relationship with NMotion, he added.
“We spent months planning the anniversary celebration,” said Henderson. “We wanted to celebrate [that] what started in Lincoln had turned into a statewide resource for startups.” Henderson went on to note that NMotion, with backing by gener8tor, is excited about the next ten years. “The N in NMotion means Non-stop.” He added, “there are many many people who have helped make all this happen including our founders, the investors, the participants, the mentors and so many more.”
The evening included comments from Troy Vosseller, a co-founder of gener8tor. The venture capital firm and accelerator is known nationally with accelerators like NMotion in 41 cities. The Wisconsin-based Vosseller shared a variety of services that gener8tor offers including accelerators for investors, corporate programming, skill development, and resources for artists and musicians. In addition they offer a free 7-week accelerator for early stage companies with local roots.
Vosseller pointed out that over 90% of the startups they work with are outside major tech hubs, nearly half include a founder of color, and almost 40% have a woman as founder. Since 2012, gener8tor has helped 1,300 startups seek and receive more than $2B in follow-on financing and created nearly 11,000 jobs.
There were announcements about special happenings in 2024 as the evening concluded. Lincoln and Omaha Startup Weeks will be combined under the leadership of Silicon Prairie News. The week of activities will begin November 11 and will include activities and events in and around Lincoln and Omaha. This event includes backing by the Greater Omaha Chamber of Commerce and Lincoln’s Partnership for Economic Development, which had each sponsored Startup Week events in the past.
NMotion announced its Spring 2024 Accelerator that will begin February 21 with a May 21 showcase in Omaha, and the Fall 2024 Accelerator will begin August 21 and include a showcase in Lincoln in November.
When asked about startups in the Midwest compared to Silicon Valley or Boston, Henderson noted, “Being a startup founder in the Midwest is very different than in some of the major tech hubs. It requires more resilience because there isn’t as much funding.”
Henderson compared startups in the middle of the country with prairie plants which have roots that run deep because there isn’t as much water, and they need to cope with a challenging environment. The enthusiasm in the room as the NMotion celebration began, and the fact that such a large percentage of NMotion participants in the past ten years that have raised follow-on funding, clearly illustrates that the startup environment in Nebraska has deep roots. And it shows that the great companies that have grown up in the Silicon Prairie are great today because they are surrounded by others who have helped them along the way.
