The Minnesota Cup, the largest statewide new venture competition in the country, is once again seeking to support and accelerate the development of the best breakthrough ideas from across the state. MHTA is a supporter of the competition’s High Tech division
This year $200,000 in cash awards is up for grabs along with other prizes in six divisions: Clean Tech & Renewable Energy, BioScience & Health IT, Student, General, High Tech and Social Entrepreneur. Anything from an idea to a new venture generating less than $1 million in revenue is eligible to enter. The 2012 competition launches on March 26th at minnesotacup.org and entrepreneurs may enter through 11:59pm on May 18.
The Minnesota Cup highlights entrepreneurs, inventors, small business people. All Minnesotans are encouraged to submit their breakthrough business ideas. Top entrants will be asked to continue through two more contest rounds to help the contest judges determine five division winners (Clean Technology & Renewable Energy, High Tech, BioScience & Health IT, General, Student). The Social Entrepreneur division follows a slightly different timeline. The winners of each division will then present their ideas to a prestigious panel of executives, investors and notable entrepreneurs who will choose this year’s grand prize winner.
The winner of each division will receive $25,000 ($10,000 for the Student division winner and $20,000 for the winner of the Social Entrepreneur division) and various other benefits. The grand prize winner will receive the Minnesota Cup, presented by David and Carolyn Cleveland and sponsored by the University of Minnesota, Wells Fargo, Carlson Companies and the Arrowhead Growth Alliance. The grand prize winner will also receive an additional $30,000 in seed capital and advice from the state’s leaders in finance, accounting, legal and management support services. Students must be full-time and have less than five years of professional work experience. Entries for the Minnesota Cup competition may be submitted individually or as a group of up to four people.
More information on timelines, judging process and past winners is available at the Minnesota Cup website. Once the nomination period opens, this article will include a link for applications.