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MINNESOTA CUP ANNOUNCES COMPETITION FINALISTS
(MINNEAPOLIS) Aug. 21, 2009 – The Minnesota Cup, a statewide entrepreneurial contest that seeks out and supports Minnesota’s newest and most innovative business ideas, today announced finalists for the 5th Annual Minnesota Cup competition. Finalists include a team creating GPS pet location products and a mobile application platform for the restaurant industry.
“This year’s Minnesota Cup has garnered some of the best and most promising business ideas in our program’s history,” said Scott Litman, Minnesota Cup co-chair. “This year’s finalists are a true testament to the great entrepreneurial ideas that come from the state of Minnesota, and we look forward to honoring them at our awards ceremony in September.”
In the next round of the contest, the finalists in each division will compete against each other by giving a 20-minute oral presentation to the judges. The winner of each division will be named on Sept. 1, and winners from each division will then compete for the grand prize, which will be awarded on Thursday, Sept. 10 at 5:00 p.m. at the McNamara Alumni Center in Minneapolis.
Contest organizers, University of Minnesota President Robert Bruininks, the review board and past winners will join the finalists at the awards reception.
This year’s competition will award more than $130,000 in prizes to winners, as well as consulting services from leaders in finance, accounting, legal and management support services. One finalist from each division – with the exception of the student category – will be awarded $20,000 in seed capital and the grand prize winner will be awarded an additional $20,000 and receive the Minnesota Cup, presented by David and Carolyn Cleveland and sponsored by the University of Minnesota.
One student winner will receive a $5,000 prize and the opportunity to compete for the grand prize.
The Minnesota Cup congratulates the following finalists:
Minnesota Cup Finalists – High Tech
Alvenda
Alvenda has created a commerce-enabled advertising network. It enables customers to shop with a retailer anywhere on the Web – not just on a single e-commerce site. Alvenda bring a retailer's store to the customer rather than the other way around.
Ascir Remote Gas Detection
Ascir has developed an affordable gas detector that operates like a camera and accurately identifies multiple hazardous chemicals from a safe distance in real-time for averting workers from danger, saving lives from terrorist attacks and monitoring polluters to protect the environment.
Mobiata Smartphone App
Mobiata simplifies your mobile life through innovative smartphone applications, such as the iPhone and iPod touch. Its applications are highly acclaimed best-sellers on the iPhone App Store in the New York Times, Wall Street Journal, Washington Post, Macworld, PC Magazine and others. Mobiata and its partners, ranging from Web start-ups to Fortune 100 companies, drive mobile projects to success. After just five months, Mobiata’s team is on track to exceed its $1 million first-year revenue goal and is projecting year one revenues of $2.5 million.
RoamEo Pet Location System
RoamEo Pet Location System designs, manufactures and markets GPS pet location products. Its first product, the Classic, lets the user locate their pet within a one mile radius and establish a GPS fence for user notification. RoamEo also introduced its Pup line in December 2008 and is developing its third product, PeTnet, an Internet-based tracking system that allows the user to monitor and locate their pet in real time.
Minnesota Cup Finalists – BioSciences
Pursuit Vascular, Inc.
Pursuit Vascular, Inc. is developing a unique disposable device to reduce hemodialysis catheter-related infections. This 510(k) device is easily inserted into any brand of hemodialysis catheter in order to kill infectious microorganisms between treatments. Based on solid evidence, Pursuit Vascular estimates this device can reduce catheter-related infections by more than 75 percent.
Rapid Diagnostek
Rapid Diagnostek is utilizing proprietary technology to develop a new generation of in vitro diagnostic tests. Its patented IntelliProbe Immunosensor™ (IPI™) system is useful for detecting and quantifying viruses, bacteria, antibodies, tumor markers, hormones and other biomolecules associated with diseases affecting animals and humans.
Vatrix Medical
Vatrix Medical, Inc. is an early-stage medical technology company focused on developing new methods of diagnosis and treatment for aneurysmal disease – a dilatation and weakness of the blood vessel wall that can lead to fatal rupture.
Minnesota Cup Finalists – Clean & Green
BioCee, Inc.
BioCee is tapping the biocatalytic potential of microorganisms to develop cost-effective and environmentally-sound fuels, chemicals and clean water. BioCee’s proprietary technology platform embeds microorganisms in thin, paint-like coatings while maintaining their full biological activity. These coatings are used to build inexpensive biocatalytic modules, which can drastically reduce capital and operating cost compared to traditional stainless steel tank fermentation.
Jet E
Jet E is developing advanced biofuels using a distributed production model and pursuing the production of green diesel and jet fuels that will be marketed as JetE GreenTec Fuels. These fuels are nearly identical to their petroleum-based counterparts, yet they are made from renewable feedstocks, have low life-cycle carbon emissions and no sulfur. Jet E will generate the majority of its income by providing its customers with a complete advanced biorefinery solution and regular onsite service supported by license fees.
Packet Power
Packet Power is focused on providing the information needed to be smart about electric power consumption. The company offers hardware, software and services that make it simple, quick and inexpensive to gain the information needed to reduce power usage.
Minnesota Cup Finalists – General
Breathe Safely
Breathe Safely, LLC has developed a patented high performing respirator seal to enhance public pandemic preparedness and occupational hazard protection. The proprietary seal can be applied by users or licensed to OEMs.
Drazil Juice
Drazil Foods offers a better juice for kids. Drazil taps into the $4 billion juice market with its Drazil Juice Teazers product, which blends 100% fruit juice with caffeine-free herbal tea – a natural source of antioxidants. It is available in single-serve juice boxes (8 pack) and multi-serve bottles.
Gopher Grocery
Gopher Grocery, Inc. is an online grocery retailer founded in Feb. 2006. It is a privately held S-corporation with annual sales of nearly $1 million and more than 5,000 registered residential and business customers including: General Mills, Nestle, Mayo Clinic, YMCA, AmeriPride Services, and the University of Minnesota.
Minnesota Cup Finalists – Student
NewWater
NewWater is providing water treatment facilities with its Atrazine Scrubber that uses University of Minnesota proprietary technology to naturally degrade atrazine into harmless elements. With application of the herbicide atrazine by farmers to their fields, chemicals end up in drinking water supplies. NewWater offers an environmentally friendly, affordable and non-labor intensive solution to lower harmful levels of atrazine. Currently, there are 3,600 water treatment facilities around the country that fit its market, and more than 100 that are on EPA watch lists for atrazine levels.
Mxapp
Mxapp is a comprehensive platform for online ordering, mobile ordering, and mobile marketing for the restaurant industry. Mxapp connects mobile consumers with the restaurant industry by providing users the ability to instantly identify nearby restaurants, peruse their menus, determine whether specials are available, and place paid orders in one combined package.
ManCave
ManCave Worldwide provides men with the tools necessary to be all that is man. ManCave "meatings" teach different grilling techniques to showcase all of ManCave products, which include everything from bottle openers to beer mugs with the ManCave logo. All of the products are delivered to the purchaser's front door and have a lifetime guarantee.
Minnesota Cup Finalists – Social Entrepreneur
Admission Possible
Admission Possible helps promising low-income high school students gain admission to college. At no cost to students or our partner high schools, Admission Possible provides four critical services to help students gain admission to college: 1) Intensive ACT/SAT preparation; 2) Guidance in preparing college applications; 3) Financial aid assistance; and 4) Guidance in the transition to college. Since their founding in 2000, 99% of Admission Possible students have earned admission to college, 95% have enrolled, and nearly 80% are continuing to work toward their degree or have already graduated.
Apple Tree Dental
Apple Tree Dental provides dental services year-round for almost 15,000 low-income children, adults, elders and people with disabilities who struggle to get dental care. Apple Tree created the Community Collaborative Practice Model that brings care to low-income people where they live or receive other social services, thus eliminating transportation, cultural and health status barriers that leave them without access to dental care. This pro-active new delivery model teaches healthy habits while delivering preventive and restorative care that prevents pain and suffering and restores healthy mouths and bodies.
Hearth Connection
Hearth Connection has created a "turnkey" solution capable of eliminating long-term homelessness in Minnesota that proves that getting people off the streets and into homes of their own is not only possible, but is also life-saving and life-changing. Hearth Connection finances, develops and manages a network of supportive housing providers that successfully houses people with the longest and most complex histories of homelessness. Their network of providers supports more than 1,300 men, women and children.
Rural Renewable Energy Alliance
Rural Renewable Energy Alliance (RREAL) is saving low-income families money while reducing carbon and other greenhouse gas emissions by helping educate tomorrow's leaders about solar power, localizing energy production and creating green jobs in an impoverished community in northern Minnesota.
About Minnesota Cup
The 5th Annual Minnesota Cup is a statewide competition that seeks out aspiring entrepreneurs for the next breakthrough idea. From high-tech to high-touch, biosciences to retail, agriculture to social ventures, this is a competition for entrepreneurs, inventors and anybody with an innovative business idea. With more than $100,000 in prize money and support from the state’s leaders in finance, accounting, legal and management support services, the Minnesota Cup is the premier business idea generator in Minnesota.
Media contact and RSVP for McNamara Alumni Center Reception:
Jeremy Baier
Haberman
612-372- 6461
jeremy@habermaninc.com
