Out of a field of 1,000 participants from around the State, 48 of them have been chosen as semi-finalists to enter the next phase of the competition. If you don’t know the Minnesota Cup, it, “...presents entrepreneurs and start-up companies with a unique opportunity in these challenging economic times. More than $130,000 in seed capital and many hours of professional services are awarded to competition winners across six divisions. Beyond the cash and prizes, participants gain exposure for their ideas, strengthen their business plans, and make strong connections in the business community. The payoff is real: 2009 Minnesota Cup finalists have already secured more than $8 million dollars in capital and brokered numerous business partnerships, collaborations and distribution agreements.”
It’s not just the dough, though, it’s the “professional services” mentioned that can make a huge difference in the life of a startup enabling them to “…connect with local business leaders and mentors arranged by the Gary S. Holmes Center for Entrepreneurship at the Carlson School of Management.”
The 2010 semi-finalists will be honored with a reception at the James J. Hill Library on Tuesday, June 22 from 6:00-8:00 p.m and Minnov8 will be there covering it live. Read the press release here.