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— A UW-Madison alum who’s now a lawyer at Tesla Motors warned Madison startup leaders they’ll face a lot of resistance as they try to disrupt more established competitors.
The status quo, said Tesla associate general counsel Keith Witek, will want to “preserve current profit models.” But startups, he said at the Badger Startup Summit in Madison, must continue to fight against those entrenched industries.
“There’s going to be a battle that has to be fought by hard-headed and tenacious entrepreneurs like we have in this room,” Witek said. “You are going to have to hit your head against the wall 26 times before you eventually break through and have some success.”
See more from Witek’s speech:
— Epic Systems founder and CEO Judy Faulkner was named the 22nd most influential person in health care.
The Modern Healthcare list, topped by President Barack Obama, noted the company has been “one of the consistently most popular vendors” of electronic health record systems. The Verona company had $2.02 billion in revenues last year and employs nearly 10,000.
Faulkner, 72, has been on the list seven times. She was joined on the list by House Speaker Paul Ryan, R-Janesville, who ranked 13th. Ryan, the publication noted, is “working to follow through” on a health care plan his caucus put forward, though it “hasn’t received much attention.”
— Madison chamber President Zach Brandon says Epic’s growth in the Madison area is a “trend line, [not] an anomaly.”
Brandon said yesterday the Madison area isn’t the only place trying to brand itself as a health tech hub — describing that space as the “Wild West.” But Epic ensures Madison is the one with “the more credible argument.”
And look, he said, at what’s happening with the EHR consulting firms, such as Nordic Consulting or BlueTree Network.That’s similar to what happened when firms started popping up to consult clients on Microsoft, he said.
“I think you’ve seen the same thing happen here,” Brandon said. “People are building upon the infrastructure and network.”
Brandon spoke at a chamber-organized event aimed at bringing together the area’s health tech community, from startup leaders and investors to health systems.
The effort, called HealthTech Capitol, is a more focused effort from the chamber to grow the ongoing meet-ups among health tech entrepreneurs. The chamber is also planning a November event in Madison with a Chicago health tech incubator called Matter, which is led by a senior adviser at the prominent firm Pritzker Group Venture Capital.
And there are more events on the way, Brandon said.
“We’ll still have beer like the good old days, but it’ll just be larger,” Brandon said.
— The chamber this evening will host its annual Pressure Chamber pitch night, with the winner getting an all-expenses paid trip to meet with Silicon Valley investors.
The event, which will take place at Monona Terrace, is part of the week-long Forward Festival that ends Thursday. The Forward Technology Conference kicks off this morning at Monona, and the chamber will host a startup showcase at 4 p.m.
The pitch night, which starts at 7 p.m., will have five Madison startups facing off. The past two winners were Fishidy and BluDiagnostics.
This year’s finalists are:
*Akitabox, whose platform helps building managers automate maintenance, planning and inspections
*Lynx Biosciences, which is developing technology that will help multiple myeloma and other blood cancer patients
*Manifestly, a platform that helps companies better manage their workflows
*POLCO, an app that aims to connect local civic leaders with the community to get their thoughts on policy proposals
*and Rigbot, which uses big data to help reduce costs for the trucking industry
See today’s Forward Festival schedule:
— The lack of homes available in Wisconsin caused sales to drop nearly 8 percent in July, according to the Wisconsin Realtors Association.
Last month saw 8,189 home sales, compared to 8,866 in July 2015. The price of the median home, meanwhile, rose 4 percent over that time period to $170,000.
WRA President and CEO Michael Theo said both can be attributed to the lack of inventory of homes, not “weakness tied to economic factors.” The average days a house is on the market, for example, is now down to 83 days, the lowest level since summer of 2005.
**Wednesday, Sept. 7: Breakfast in Washington, D.C. with top national pollsters**
–In conjunction with MMAC’s “Milwaukee Night in DC” on the evening of Sept. 7.
Republican pollster Gene Ulm of Public Opinion Strategies and Democratic pollster Paul Maslin of FM3 Research, both with strong polling histories in Wisconsin and across the country, analyze Wisconsin’s swing state status and how that will affect the presidential and U.S. Senate races.
At the Monocle on the Senate side of Capitol Hill, with check-in and a continental breakfast beginning at 8:30 a.m.
Program goes from 9 a.m. to 10 a.m.
Click here to register and pay the $39 fee (put “Sept. 7 DC event” in purpose of payment line): https://secured-site7.com/wispolitics/online_payment/
The Monocle Restaurant,
107 D St. NE,
Near the Union Station stop on the Metro
Sponsors: AARP Wisconsin, Wisconsin Medical Society, WPS Health Solutions, Michael Best & Friedrich and Michael Best Strategies. Event partners: UW-Madison, and Wisconsin Alumni Association.
Great Lakes Cities Initiative challenging Waukesha water diversion
Manufacturing key to north-side jobs
How Quad became more than just a printer
Wipfli acquires Illinois-based Weltman Bernfield
Johnson Controls shareholders file another suit against executives
UW-Madison Office of Corporate Relations
Madison Gas & Electric
Wisconsin Technology Council
University Research Park
– Wisconsin’s July milk per cow output nearly breaks record
– Indiana TB case prompts cattle restrictions in Wisconsin
– Chris Hardie: Moss is big business in Jackson County
– Imbed Biosciences raises $600,000
– Mandel Group developing its vacant lot in St. Francis
– Omaha-based firm selected to lead streetcar construction project
– UWM, MPS partnership receives grant to improve math and science teaching
– UWM-MPS teacher program receives $2.4 million grant
– Nominations open for Ag Literacy Teaching Awards
– First renewals of CREP contracts due in September
FINANCIAL SERVICES ^top^
– Wipfli to acquire Weltman Bernfield
– Corner Bakery Cafe planned for Capitol Drive in Shorewood
FOOD AND BEVERAGE ^top^
– Central Waters’ ‘Black Gold’ beer up for grabs
HEALTH CARE ^top^
– Planned Parenthood of Wisconsin to close its Appleton abortion clinic
– Investors Community Bank award and promotions
– State added 5,000 private sector jobs in July
– Racine panel to discuss $10M claim
– Joy Global drove Komatsu offer up 66 percent
– Adient closes on financing for spin-off
– Royal Enfield North America sets opening date for 3rd Ward showroom, HQ
– InSinkErator begins production shift
– Campaigns for, against gas-tax hike putting pressure on state lawmakers
– Greater Milwaukee Foundation establishes fund in response to Sherman Park violence
REAL ESTATE ^top^
– Wisconsin home sales down 7.6 percent in July
– Camp Bar owner buys former MOD GEN building in Shorewood
– Wisconsin July home prices up almost 20 percent from 2012
– Wisconsin home sales waned in July
– Waukesha water plan faces challenge from Great Lakes cities group
SMALL BUSINESS ^top^
– Reality TV show ‘Milwaukee Blacksmith’ to air on History channel Tuesday night
– Organic entrepreneur in Ripon focuses on fresh
– Thunderstorm doesn’t stop VIP crowd at Fellowship Open: Slideshow
– Packers host Mentor-Protégé training camp
– Javier: I-Corps building community
– Days Inn & Suites near airport to be sold in online auction
– Yum Yum ’16 takes a sunny stroll in the park with lamb, doughnuts and the god of wine
– Major airlines face turbulent times ahead
– Milwaukee, Oak Creek among members of group challenging Waukesha water plan
– Green Bay gas prices unchanged
Edgewood College: Grant from Attic Angel Association creates new partnership
First Business: Hires Amanda Smith and Carrie Prince
Herzing University: Announces enhanced business program curriculum
Joy Global Inc.: Announces fiscal third quarter 2016 earnings release information
Karl James & Company: Named agency of record by GS Global Resources
UW-Madison: Assessment honor for UW-Madison
Wisconsin Realtors Association: Tight inventories reduce July sales as prices continue to rise
Wisconsin Veterans Chamber of Commerce: announces partnership with StreetShares