The Minnesota Cup has named the startups advancing to the next round of its annual competition, trimming its initial pool of 90 contestants down to just 27.
The 2018 Minnesota Cup kicked off at the end of May with 10 startups competing in each of its nine divisions. Over the course of the summer, startups worked with mentors to polish up their pitches and business plans. Three companies from each division were selected as finalists.
Next, the remaining competitors will face off with the remaining companies in their division until a winner is selected in each next month. Each of these division winners will receive $30,000 and a chance at the $50,000 grand prize in October.
Created and managed by the University of Minnesota, the Minnesota Cup is a statewide, five-month-long competition where local startups compete for a share of $500,000 in prize money. More than 1,600 entrepreneurs applied to this year’s competition, the Cup said in a release. This is an increase of 22 percent from last year, and a new record for MN Cup.
Nearly 15,000 Minnesotans have participated in the competition since it began in 2005, according to the University of Minnesota, and finalists have raised more than $280 million in capital. Last year’s grand prize winner, MicroOptx, raised $1.4 million less than a month after winning the competition.
Here are the 27 startups advancing to MN Cup's finalist round:
Energy/Clean Tech/Water
Food/Agriculture/Beverage
General
High Tech
Impact Ventures
Life Sciences/Health IT
Student
Education and Training
Youth
- InstaCare
- Solupal
- Studioso
