After a record number of startups applied to compete in this year's Minnesota Cup, the state's largest entrepreneur competition, nine companies are left standing to vie for the $50,000 grand prize.
The Minnesota Cup program has served 26,000 entrepreneurs across the state and awarded $5.4 million in startup funding. The competition is open to any Minnesota-based company with less than $1 million in annual revenue.
The nine division winners were selected from an initial pool of almost 3,200 applicants across Minnesota. That was whittled down to 90 semi-finalists in May. The competition was then cut down to 27 companies, with three finalists per category.
Each division winner receives $25,000 in non-dilutive cash prizes. The youth division awards a total prize of $20,000 to the top three finalist companies. The grand prize winner will be announced at Minnesota Cup's grand finale Sept. 16 during Twin Cities Startup Week and take home $50,000.
Last year's winner was Carba, a technology company that removes carbon dioxide from the air to permanently store underground in the form of solid carbon.
Minnesota Cup's 2024 division winners are:
Energy, Clean-tech and Water — Revitri: Founded in 2023 by co-owners Ken Klan and Cody Bates, Revitri manufactures ultra-light foamed glass beads used as fillers in plastics, concrete, coatings and any other resin system. The Willernie-based company uses post-consumer recycled curbside glass to create its beads.
Education and Training — Talknician: Talknician, a Minneapolis-based company that creates augmented-reality software for on-the-job training for the blue-collar workforce, was founded in 2022 by brothers Andrew and John Dahlberg.
Food, Agriculture and Beverage — Loon Liquors Distillery: Northfield-based Loon Liquor Co. is a grain-to-glass, organic microdistillery and cocktail room. The company, founded in 2011 by Simeon Rossi and Mark Schiller, began producing spirits in 2014.
General — Momease Solutions: Co-founded by Ashley Mooneyham and Jennie Lynch, Momease Solutions is developing a wearable device that improves breast pump comfort and performance. The Plymouth-based company was founded in 2021 after Mooneyham gave birth to her first child.
High Tech — Mozrt: Minneapolis-based Mozrt is a fintech company that has developed a compliance-first payment technology platform for banks and credit unions. CEO Jeff Althaus founded Mozrt, formerly WireFX, in 2019.
Impact Ventures — Nashke Native Games: Nashke Native Games is an Ojibwe board and card game company that incorporates the language and culture into its products. The Minneapolis-based company was founded by CEO Tony Drews, a descendant of the Leech Lake Band of Ojibwe.
Life Science and Health IT — Heart Failure Solutions: Maple Grove-based Heart Failure Solutions Inc. is developing a solution for patients diagnosed with heart failure with preserved ejection fraction syndrome, a condition in which the heart cannot pump enough blood to meet the body's oxygen and nutrition needs. The company was founded by Mark Strong in 2022.
Student — Alure: Alure is a Minneapolis-based company developing a technology-based solution to eliminate invasive Japanese beetles. The company was founded in 2023 by Aditya Prabhu and James Duquette.
Youth — SignalGrab: SignalGrab is a mobile app that audibly informs drivers of traffic signal colors to help color-blind people drive at night. The St. Paul-based company was founded by St. Paul Academy and Summit School senior Bora Mandic in 2023.
