The Minnesota Cup, which bills itself as the country’s largest statewide new venture competition, has named the finalists who will be honored later this month in ceremonies at the University of Minnesota.
In addition to more than $400,000 in prize money, the months-long Minnesota Cup competition provides many of these entrepreneurs, some fledgling and others veterans with new ideas, along with the tools, resources and mentoring to launch or grow their small enterprises as they advance through the competition.
The eight division winners, who will compete for a grand prize, were culled from a record 1,500 entrants.
They are: Activated Research Co. in the energy/clean tech/water category; SelfEco Gardenâ in food/ag/beverage; Berd Spokes in general; Vugo in high tech; StemoniX in life science/health IT; Asiyain social entrepreneurship; Minnealloy Magnetics in the student category and ExpressionMed in the 18-and-under category.
Each division winner has been awarded up to $30,000 and is now in pursuit of Minnesota Cup grand prize, which comes with an additional $50,000 in seed capital. Beyond the grand prize, the Carlson Family Foundation will award $25,000 to the top female-led business; Southern Minnesota Initiative Foundation will award $25,000 in seed funding to the top entry from that region. Meda will award $10,000 to the minority entrepreneur with the most innovative business concept.
There are also other additional prize categories. For more information: mncup.org