Minnesota Cup reveals 91 semifinalists for 2022

The Minnesota Cup announced Wednesday the 91 semifinalist companies that will compete in the state's largest startup competition.

More than 2,000 entrepreneurs applied for a chance to share over $400,000 in prize money. This year, the competition also fielded the largest percentage of applicants from female-led companies (47%).

MN Cup Director Jessica Berg attributes the increase in applicants, which was 32% higher than the previous record, to outreach and a rise in entrepreneurship during the pandemic.

"I think people are recognizing how building their own business feels more viable for them as a career path," Berg said. "People are more and more focused on issues that they want to change and use business to act."

Berg said every year is different, but this year's crop of applicants favored three divisions: impact ventures, general and education and training.

Now they've been selected, the semifinalists will spend the next two months pairing up with mentors. Then they'll prepare a business plan, a pitch deck and a one minute video.

Three finalists from each category will be announced in August and the final awards ceremony will be held in September.

Started in 2005, the competition is held in coordination with the University of Minnesota's Carlson School of Management. Past participants have gone on to raise over $1.5 billion in funding.

Past winners include internet of things company 75F Inc., which raised a $28 million Series A in 2021.

The semi-finalists in the Education & Training category are:

In the Energy/Cleantech/Water category: 

In the Food/Ag/Beverage category: 

In the General category: 

In the High Tech category:

In the Impact Ventures category: 

In the LifeScience/Health IT category: 

In the Student category: 

In the Youth category: