The annual startup competition known as Minnesota Cup has just announced the 80 semifinalists its judges have selected in eight categories. Here’s the text of the press release:
LOCAL ENTREPRENEURS ADVANCE
TO NEXT ROUND OF MN CUP
The nation’s largest statewide new venture competition announces
semifinalists competing for a record $402,000 in total prize money
MINNEAPOLIS—JUNE 7, 2016—The MN Cup announced today it has advanced 80 teams of Minnesota-based entrepreneurs, inventors and innovators to the second round of the 2016 competition. In its twelfth year, the MN Cup is giving away a record $402,000 in total prize money. Semifinalists will be honored at a June 15 reception at the Carlson School of Management.
The following 80 semifinalists from eight divisions will compete for a share of the $402,000 prize money, as well as the training and support to help make their entrepreneurial ideas a reality:
Energy/Clean Tech/Water:
- Activated Research Company, 7 County Metro Region,
- Arc Suppression Technologies, 7 County Metro Region, Veteran-led
- Designed Energy Savings, 7 County Metro Region, Veteran-led,
- enVerde LLC, 7 County Metro Region
- Freedom Motors LLC, Goodhue County, Woman-led, Veteran-led
- LADi Water, LLC, 7 County Metro Region
- Lightwave Photonics, Inc, 7 County Metro Region
- PureBiomass LLC, 7 County Metro Region
- Verterra Energy, Inc., 7 County Metro Region
- VivoDynamics, 7 County Metro Region
Food/Ag/Beverage:
- 5 Infused Vodka, 7 County Metro Region
- Bolton Bees, 7 County Metro Region, Woman-led
- Far North Spirits, Kittson County, Woman-led
- Farmhouse Market, Le Sueur County, Woman-led
- Four Seasons Shrimp Co, Morrison County, Veteran-led
- Local Crate, 7 County Metro Region, Minority-led
- Nurish, 7 County Metro Region, Minority-led
- SelfEco Garden, 7 County Metro Region
- Spods, 7 County Metro Region, Woman-led
- True Dough, 7 County Metro Region, Woman-led
General:
- Awear Technologies LLC, Pine County
- Berd Spokes, 7 County Metro Region
- Crotega Safety Solutions, 7 County Metro Region, Veteran-led
- Elevate Hockey, 7 County Metro Region
- Key Log Rolling, 7 County Metro Region, Woman-led
- Moxy Muscle Oxygen Monitor, McLeod County
- SkillFitness, 7 County Metro Region
- Stiff Tape Measure, 7 County Metro Region, Minority-led
- The THCer, 7 County Metro Region, Woman-led, Minority-led
- UR TURN, 7 County Metro Region, Woman-led
High Tech:
- Corology, 7 County Metro Region
- DragonEye, 7 County Metro Region
- Hitsfu, 7 County Metro Region, Woman-led, Minority-led
- Homi, 7 County Metro Region, Minority-led
- Raincard, 7 County Metro Region
- Sezzle, 7 County Metro Region, Minority-led
- Spark DJ, Inc., 7 County Metro Region, Minority-led
- Token of Trust, 7 County Metro Region
- Vugo, 7 County Metro Region
- Zerda, Olmsted County
Life Science/IT:
- Geneticure LLC, 7 County Metro Region
- Healthe, 7 County Metro Region
- Magic Arms, 7 County Metro Region, Woman-led
- MetaLogics Corporation, 7 County Metro Region
- MyMeds, 7 County Metro Region, Woman-led, Minority-led
- NanoDev Therapeutics, Olmsted County
- Photonic Pharma, 7 County Metro Region
- Protosthetics, Clay County
- StemoniX, 7 County Metro Region, Minority-led
- Zift Medical, 7 County Metro Region
Social:
- Asiya, 7 County Metro Region, Woman-led, Minority-led
- Bim Bam Boo, 7 County Metro Region, Woman-led
- Depart Smart, 7 County Metro Region, Woman-led
- Dignity by Design Enterprise, LLC, 7 County Metro Region, Woman-led
- FAN School, 7 County Metro Region
- Mind Shift, 7 County Metro Region
- Queblo, 7 County Metro Region
- Right Stuff Drones, 7 County Metro Region, Veteran-led
- The Mother Love, 7 County Metro Region, Woman-led
- THRIVORS, 7 County Metro Region, Woman-led
Student:
- Blue Dog Denim, Rice County, Woman-led
- Core Technologies, Martin County
- Fishingresortsandcharts.com, Lake of the Woods County
- H&H, 7 County Metro Region, Woman-led, Minority-led
- Minnedust Magnetics, 7 County Metro Region, Minority-led
- Mobineo, 7 County Metro Region, Woman-led
- Nesel Packs, 7 County Metro Region, Woman-led
- Sound Connections, 7 County Metro Region
- Tree Trainer, 7 County Metro Region
- Under Recruited Preps, Blue Earth County, Minority-led
Youth:
- Boat Bobbers, 7 County Metro Region, Woman-led
- Da Bomb Bath Fizzers, 7 County Metro Region, Woman-led
- Eddie’s Goat Milk Goods, McLeod County
- ExpressionMed, 7 County Metro Region, Woman-led
- Finessin Global, Steele County
- JATS, Olmsted County, Woman-led
- Leozarb, 7 County Metro Region, Minority-led
- Medical Assistance via Quick Response code, Kanabec County, Woman-led
- mXers Audio, 7 County Metro Region, Minority-led
- Rhidian Tech, 7 County Metro Region, Minority-led
The MN Cup enjoyed a standout number of entrants this year, with 616 teams (100 more than last year), and a new record number of competition participants — more than 1500 total. The Youth Division for entrepreneurs age 18 and under, debuting this year, brought in six percent of total entries.
MN Cup semifinalists were chosen after a rigorous application process. Entries had to outline three key components to their entrepreneurial visions: opportunity, plan and progress. The semifinalists represent a wide variety of emerging businesses, entrepreneurs and investors in the following categories: Energy/Clean Tech/Water, Food/Agriculture/Beverage, General, High Tech, Life Science/Health IT, Social Entrepreneur, Student and Youth. Semifinalists will now have the opportunity to craft a detailed business plan with the help of an experienced mentor throughout the summer.
“Every year, our state has reaped the benefits of entrepreneurial innovation thanks to the business visionaries who participate in and support the MN Cup competition,” says MN Cup co-founder Scott Litman. “There are so many firsts this year: a record number of entrant teams, a new Youth division, and the largest prize total to give away ever — so we’re absolutely looking forward to seeing what these semifinalists will accomplish as we move toward the final round.”
In August, finalists from each division will be announced, and each division winner will receive $30,000 in seed capital, the Youth Division winner will receive $10,000. Additionally, one runner up from each division will receive $5,000 in seed capital.
On Sept. 22, the grand prize winner of all divisions will be announced at a ceremony at the University of Minnesota McNamara Alumni Center, and will receive an additional $50,000 in seed capital. At the final event, a number of special prizes will be given: Capella University will award for the first time a $10,000 prize for the most innovative education technology that promotes learning solutions or builds 21st century skills; AARP will present a $5,000 prize for an innovation that improves the lives of seniors; and two audience favorite winners will receive an additional $1,000. Southern Minnesota Initiative Foundation will provide $25,000 in seed funding to the top entry from that region of the state.
Other special awards include $25,000 for the top woman-led business, from the Carlson Family Foundation; $10,000 to the minority entrepreneur with the most innovative business concept from Meda; Securian Financial Group will give $10,000 for an innovation that shapes the future of financial services or life insurance through technology; and MDA will award $10,000 in in-kind prizes to three Food/Ag/Bev Division semi-finalists, including $2,500 for the third and second place finishers, and $5,000 for the category winner.
Lead sponsors of the 2016 MN Cup competition include Bush Foundation, Carlson Family Foundation, General Mills, Junior Achievement of the Upper Midwest, Positively Minnesota, Pentair UnitedHealth Group, University of Minnesota and Wells Fargo. Supporting sponsors include 301 INC, AARP, ADM, ANDCOR, AURI, Blandin Foundation, Cairn Ventures, Capella, Clear Channel, Clifton Larson Allen, Come Up Capital, Eide Bailly, Fredrikson & Byron, P. A., Gopher Angels, Grain Millers, Gray Plant Mooty, Haberman, IBM, Initiative Foundation, The Kenyon Consortium, LifeScience Alley, Lurie, Magnet 360, Maslon LLC, Meda, Messerli & Kramer, MHTA, Midwest Pantry, Minnesota Department of Agriculture, Minnesota Department of Commerce, Mojo Minnesota, Mosaic, National Foodworks Services LLC, Proto Labs, The Reserve, Securian Financial Group, Six Speed, Sofia Fund, Southern Minnesota Initiative Foundation, Southwest Initiative Foundation, Spoken Impact, Star, Startec, Star Tribune, Stinson Leonard Street, Stoel Rives LLP, TECHdotMN, The Schwan Food Company, Treehouse Health, Twin Cities Business Magazine, Venture Bank and West Central Initiative.
The MN Cup is a free, annual competition that seeks to support and accelerate the development of the best breakthrough ideas from across the state. For more information and details on how to enter for 2016, please visit MN Cup here.