The existing U of M startups also had a successful 2023. Niron Magnetics, launched in 2014, received $17.5 million from the U.S. Department of Energy to scale up the prototyping of its sustainable permanent magnets and has raised more than $100 million in total funding with plans to build a full-scale production facility. RoundtableRx, a nonprofit that distributes unused medications to individuals in need, was awarded $900,000 for its work over the next two years by the State of Minnesota.
Some of the right pieces are found in Tech Comm’s Venture Center, which identifies U of M technology and ideas best suited to reach the market through a dedicated startup company rather than licensing them to an existing company and provides tailored advice and resources to help them launch…
