It's been a long road for this year's Minnesota Cup competitors, but after more than three months of competition, the Cup finally crowned winners in each of its nine divisions on Friday.
Each of these division winners received $30,000, and will qualify for the final round of the competition, where the nine remaining companies will square off for the Minnesota Cup's $50,000 grand prize. The winner will be announced at an event during Twin Cities Startup Week next month.
Who will take home the top prize? It's a tough call. Education and training, the Cup's newest division, is worth following. Healthcare and high tech have dominated the competition over the last five years. The impact ventures and food/agriculture/beverage divisions (added in 2012 and 2014 respectively) have not claimed a grand prize since joining the Minnesota Cup, but Nordic Waffles or Recovree could break that pattern this year.
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 this year's division winners:
Energy/Clean Tech/Water: CD3
CD3 is developing user-operated, waterless cleaning systems designed to reduce the spread of invasive species via boats.
Food/Ag/Beverage: Nordic Waffles
Founder Stine Aasland, AKA the "Waffle Queen of Norway," started selling her Nordic waffles in Oslo before bringing them across the ocean. The waffles are now sold across the Midwest, with a special focus on Minnesota.
General: NoSweat
NoSweat makes sweat-absorbing liners for helmets and hats. The company recently signed a deal to become a licensed sponsor with the PGA Tour.
High Tech: HabitAware
HabitAware's Keen bracelet aims to people with body-focused repetitive behaviors like nail biting, skin picking or hair pulling.
Impact Ventures: Recovree
Founded by former Minnesota Cup Director Melissa Kjolsing Lynch and her brother Luke Kjolsing, Recovree connects people recovering from substance use disorder to peer support specialists, an increasingly popular, sponsor-like resource for those trying to achieve and maintain sobriety. This summer, the company raised a $325,000 seed round to grow its platform. Recovree also received $50,000 after winning a startup competition in North Dakota.
Life Science/Health IT: Carrot Health
Carrot Health uses data and predictive modeling to create deep insights into consumers and their underlying social determinants of health.
Education and Training: Cedar Labs
Cedar Labs is building tech tools that schools can implement for easier data access and information exchanges.
Student: Plyo
Plyo is a loyalty app that rewards college students for exercising on campus with deals to local restaurants and discounts on popular brands. The company was created by Peter Schultze, a current student at University of Minnesota's Carlson School of Management. Schultze is on Minne Inno's 25 Under 25 list.
Youth: Studioso
Studioso is a mobile platform that connects music teachers to their students, encouraging efficient practice. Prior to competing in the Cup, founder and CEO Ocean Salazar participated in gener8tor's gBETA accelerator. He is also one of Minne Inno's 25 Under 25.
