Hosted by
FOR IMMEDIATE RELEASE
FIVE ENTREPRENEURIAL TEAMS ONE STEP CLOSER TO WINNING $50,000 IN SEED CAPITAL FOR THEIR INNOVATIVE IDEAS
(Minneapolis) Aug. 21, 2008 – Five entrepreneurial teams were named finalists today in the 4th Annual Minnesota Cup, a statewide entrepreneurial contest that seeks out and supports Minnesota’s newest and most innovative business ideas. Finalists, including a team creating an amphibious drivable ice fishing shelter and a trio developing cardiologist-formulated organic food products, will be honored and compete in the final round of competition at the McNamara Alumni Center Thursday, Sept. 11 at 5:00 p.m.
"This year’s competition had a wealth of great business ideas as we received the largest number participants in the program’s history," said Minnesota Cup co-chair Scott Litman. "Each of our five finalists overcame increased competition and developed first-rate business ideas. The work of these incredible businessmen and women is truly inspiring and we look forward to honoring them at our awards ceremony."
Contest organizers, University of Minnesota President Robert Bruininks, Entrepreneur of the Year winners, Tim and Valerie Doherty of Doherty Employment Group, Wells Fargo regional president Debra Paterson along with the review board and past winners will join the five finalists at the awards reception. During this last contest round, finalists will make a 15-minute oral presentation to the judges. Three contest winners and one student winner will be named and awarded their prizes.
The winner of the competition will receive $50,000 in seed capital and advice from leaders in finance, accounting, legal and management support services. The winner also will receive the Minnesota Cup, presented by David and Carolyn Cleveland and sponsored by the University of Minnesota. Second and third place winners will receive $10,000 and $5,000 respectively.
Student entrepreneurs also submitted their business plans for judging. One student winner will receive a $5,000 prize.
Barrier I Network Security Appliance
The Barrier Group has created, developed and is now selling the patent pending network security appliance named Barrier I that is a revolutionary vehicle to stop “blended threats” – the biggest threat facing network security in the past 20 years. The company, led by Steve Sahl, is bootstrapping it with only three employees and winning business away from large, well-financed international competitors, while remaining cash flow neutral.
CoreSpine Technologies
Formed in June 2005, CoreSpine Technologies is focused on developing and producing advanced surgical devices for the complete or selective removal of nucleus and cartilage material from the lumbar disc space. Led by Christine Horton, this proprietary technology will enable the next generation of emerging spinal therapies and will set the standard for preparing the spinal disc for implantation of an artificial disc nucleus and minimally invasive interbody fusion devices.
Klodas Foods: Fibre and Beyond
Elli Ansari, Barb Birr and Elizabeth Klodas are working together to produce physician-formulated premium whole natural and organic foods that address both general health maintenance and the dietary requirements of patients with specific chronic diseases. Fibre, the first Klodas Foods innovation, is a cardiologist-formulated organic food product that allows individuals to conveniently incorporate healthful ingredients into their diets.
MyWonderfulLife.com
Sue Kruskopf and Nancy Bush created this free Web site that allows members to plan and personalize their own funeral. MyWonderfulLife.com (MWL.com) eases the burden on the surviving loved ones as it eliminates the guesswork incorporated with funerals and allows greater time to grieve.
Wilcraft
Tom Roering, Connie Roering and Dave Plan created an amphibious drivable ice fishing shelter called Wilcraft that offers a safe, comfortable and convenient ice fishing experience. Its light footprint also allows access to early and late ice – the most coveted times of the season.
Sirkl
Brian Limborg, John Borowicz, Dan Kantor and Anwar Bhimani developed a software application that runs within social networks, such as Facebook and MySpace, to provide a set of services and tools for setting up and managing high school and university sponsored clubs and other formal membership organizations. Sirkl creates a virtual clubhouse environment where members and alumni can meet, organize, plan, discuss, view photos/videos and stay informed about their organizations’ events, activities and latest news.
Zipnosis
Led by Jonathan Pearce, Zipnosis creates electronic visit – E-visit – software to allow patients and doctors to conduct secure electronic visits and help make family practice doctors financially viable. The unique, adaptive software guides a patient through a consultation creating a note the physician can quickly review.
Wireless respiratory carbon dioxide sensors
Shyam Sivaramakrishnan and Rajesh Rajamani plan to produce ultra-small wireless carbon dioxide (CO2) sensors that would enable analysis of CO2 concentration in the breath and indoor-air monitoring applications. New technology developed at the University of Minnesota promises to deliver such sensors within two years.
About Minnesota Cup
The 4th Annual Minnesota Cup is a statewide competition that seeks out aspiring entrepreneurs for the next breakthrough idea. High-tech or no-tech, this competition brings together innovative business ideas from a wide range of industries including automotive, health care services, telecommunications, technology, leisure, outdoor recreation, energy conservation, education and many others. The top breakthrough idea is awarded $50,000 in seed capital and advice from the state’s leaders in finance, accounting, legal and management support services. The contest also awards prizes to the top two runners-up and the top student entry.
Media contact and RSVP for McNamara Alumni Center Reception:
Jeremy Baier, Haberman & Associates, 612-372-6461,
Peggy Bell, Haberman & Associates, 612-372- 6463,
