The Minnesota Cup, the University of Minnesota’s statewide startup competition, has announced this year’s divisional winners.
The winners, selected out of 27 finalists and 90 semifinalists, each receive $25,000 – except for those in the youth division, whose prize money was split among the finalists. On top of that, each of the divisional winners will compete for a $50,000 grand prize, which will be awarded during an in-person showcase and awards reception on Sept. 19 in the McNamara Alumni Center.
The Minnesota Cup “is always a big point of validation for the startup companies,” John Stavig, director of the Gary S. Holmes Center for Entrepreneurship, which runs the competition as part of the university’s Carlson School of Management, said in an interview with the Business Journal. “Winning ... is a big step forward for them and an opportunity for them to connect with a broader set of resources.”
The annual competition also supports emerging entrepreneurs with mentorship and education to develop their companies. This year’s competition saw the largest – and most diverse -- number of applicants on record, according to the announcement.
This year, there were 2,595 participants in the applicant process, which surpassed Minnesota Cup’s previous record by 32%. The competition also saw its highest-ever percentage of women and nonbinary participants and an applicant pool that was the most racially diverse, as 64% of those who applied were non-white, Minnesota Cup statistics show. The competition has been tracking detailed demographic information on applicants since 2013.
Additional cash prizes – totaling more than $100,000 – will also be announced at the showcase at McNamara, the announcement said.
Since the Minnesota Cup was founded in 2005, it has given away more than $5 million in seed capital and has had its alumni companies go on to raise more than $1 billion, the announcement said.
The 2022 Minnesota Cup divisional winners are:
- Punkademic – an online education platform offering music courses (Education and Training division)
- BKB Floral Foam – a company developing sustainable replacements for foams currently made from fossil fuels (Energy/Cleantech/Water division)
- Maazah – a company offering Afghan-style chutney (Food/Ag/Beverage division)
- Telo – a company developing a safer rollator walker (General division)
- Carbon Origins – a company building a delivery robot, called Skippy, that is controlled by a person with a virtual reality headset (High Tech division)
- TurnSignl – a platform offering on-demand legal help to drivers who have been stopped by police (Impact Ventures division)
- Q-rounds – an online platform offering a virtual queue for patients, families and care providers in a hospital setting (Life Science/Health IT division)
- Refr Sports – an app allowing referees and sports game organizers to share and coordinate scheduling needs (Student division)
- Sock Munch – a company offering a duck-themed, zippered mesh bag to hold and wash socks so that pairs stay together (Youth division – prize money of $17,500 split among first, second and third place)
For the list of runners-up, click here.
