It's time to enter the Minnesota Cup Contest!

4/21/2011

The call is out for entries for the Minnesota Cup - a statewide contest designed to seek out, support, celebrate and promote Minnesota's newest and most innovative business ideas. Lommen Abdo is a supporting partner of the 2011 Minnesota Cup, and Brad Lehrman participates once again as one of the judges for the state-wide business plan competition.

Total cash prizes have increased to over $150,000 this year across six award divisions: CleanTech & Renewable Energy, BioSciences, High Tech, Social Entrepreneur, General and Student. The winners from the CleanTech, BioSciences, High Tech and General categories will each receive $25,000; with the winners from the student division receiving $10,000 and the winner from the Social Entrepreneur category receiving $20,000. The finalists from each division will then compete for the $25,000 grand prize.

Last year's winner, and Lommen Abdo client, was EarthClean for its environmentally friendly fire retardant, TetraKO.  Doug Ruth reported to Twin Cities Business that the Minnesota Cup played a significant role in bolstering the company's growth.  “Between learning how to create an effective business plan and how to pitch potential investors, the Minnesota Cup competition experience is invaluable,” Doug Ruth, CEO of 2010 Minnesota Cup winner EarthClean, said in a statement. 

EarthClean, which competed in the clean tech and renewable energy division, makes an environmentally safe liquid that is substantially more effective than water, Class-A foams, and toxic retardants at stopping fires. “The level of visibility locally and nationally helped us gain connections and credibility within the investment community,” Ruth said in a statement. “Shortly after winning the Minnesota Cup, we were able to close on a $1 million round of funding and have now moved from being a pre-revenue start-up to exceeding our first quarter 2011 sales target.”

If you're an entrepreneur, consider entering the contest as a means to meet and receive feedback from leading investors, win cash prizes and take the first step to make your business idea a reality. NOTE: Businesses must be based in Minnesota, have historical annual revenue of less than one million and been in operation for less than five years.

Read the press release announcing the competition, the Twin Cities Business article or visit www.minnesotacup.org for more information about the contest.

If you have questions about the Minnesota Cup, contact Brad Lehrman at 612-336-9317 or blehrman@lommen.com.