Attention all Minnesota startups and would-be startups: only a short time remains to enter the statewide business-plan competition known as The Minnesota Cup — applications are due Friday, May 22, 2009.
Now in its fifth year, the competition is bigger and better in 2009, with more prizes and more opportunities to win. The total amount of winnings this year was upped to more than $130,000. And the competition was expanded to now include six divisions — Clean & Green, BioSciences, High Tech, Social Entrepreneur, General, and Student. The first-place winner stands to win as much as $40,000. But I submit the money isn’t everything — the publicity and connections the winners get from this competition are worth far more.
The MN Cup, in more than doubling its prize money, stands in sharp contrast to a national study that recently reported angel investment dollars were down 26% in 2008. Yes, Minnesota entrepreneurs should take heart — seed funding is actually on the rise in this case! And many more founders can now participate in this competition with its newly added business categories.
Twin Cities Business magazine did a story on the 2008 MN Cup winners. … [Read More…]