The Minnesota Cup has announced the 89 companies that are semifinalists this year in the state’s largest startup competition.
This year saw the highest number of applications and participants in the first round of the process ever, the University of Minnesota Carlson School of Management, which runs the competition through its Holmes Center for Entrepreneurship, said in a post this week.
In all, 3,052 Minnesotans participated in the application process, representing 17% more than the Minnesota Cup’s previous record in 2022. Forty-three percent of the participants identify as female, 38% as non-white, and 31% of applicants were from Greater Minnesota, the post said.
As the competition takes place, the companies will create a pitch deck, business plan and a 1-minute video while getting resources like free mentorship through July. They will compete in subsequent rounds, where more than $400,000 in cash prizes are available.
Starting in 2005, Minnesota Cup has given away over $5 million in seed capital, while alum have raised over $1 billion. Last year’s grand-prize winner was BKB Floral Foam, which develops sustainable alternatives to foams now made from fossil fuels.
Congratulations to these ten Saint Paul-based startups:
- Geo-Game (Youth)
- Nosh Posh (Food/Ag/Beverage)
- Nucleic Sensing Systems (Energy/Cleantech/Water)
- People for PSEO (Impact Ventures)
- PreLease SBC (Impact Ventures)
- Quebracho Empanadas (Food/Ag/Beverage)
- SonnyLife (Impact Ventures)
- Taking Stock Foods (Food/Ag/Beverage)
- Wise Blue Yonder (Impact Ventures)
- XanthosHealth (Impact Ventures)
This is the 19th season of MN Cup which has made an impact of the competition on the high-growth startups and innovation of our state. Capital raised by MN Cup alumni exceeds $1 Billion. To stay up to date on the progress of these companies, follow @MinnesotaCup on Instagram and LinkedIn, and sign up for their newsletter here.