The Minnesota Cup -- the largest statewide new venture competition in the nation -- has announced that it is adding an International Division to its 10th annual competition, set to launch in March 2014. LifeScience Alley, the largest state-based life sciences trade association in the U.S. and partner of the Minnesota Cup, will serve as the division's sponsor.
The largest statewide new venture competition in the nation, the Minnesota Cup, is announcing a new category -- Food, Agriculture and Beverage -- for its 10th annual competition, launching in March 2014. It also is announcing a new prize total -- $300,000 -- for next year's winners.
Fifty-seven teams of semi-finalists in the ninth annual Minnesota Cup -- the statewide entrepreneurial contest that supports and accelerates the development of Minnesota's newest and most innovative business ideas -- worked throughout the summer to hone their groundbreaking business ideas. Today, the top three ideas in each of the six divisions in the Minnesota Cup -- Energy/Clean Tech, General, High Tech, Life Science/Health IT, Social Entrepreneur and Student -- will advance to the finalist round, and will compete for a share of $200,000 in prize money and the opportunity to bring their entrepreneurial vision into focus.
For many start-up and growing businesses, an international joint venture can be an excellent vehicle for doing business in foreign markets. This allows many businesses to explore and quickly develop capabilities with international contacts, sources, distribution of goods and services and even intellectual property. Additionally, solid joint ventures can help growing businesses with the sharing of start-up and operating costs and expenses while mitigating many risks. Furthermore, smart strategic joint ventures can help quickly expand domestic businesses much more quickly than if the start-up business would attempt such an endeavor alone.
However, the wrong joint venture with the wrong partner in the wrong market can be both very costly and ultimately detrimental to a business.
Many entrepreneurs are unfamiliar with the processes and procedures of angel networks.
Minnesota Cup is excited to announce additional benefits for our 2013 participants! Beginning this fall, Minnesota Cup sponsor Medical Industry Leadership Institute (MILI) and Carlson Ventures Enterprise (CVE) will offer services to a total of five different Minnesota Cup companies.
On Thursday, July 18, Maslon Edelman Borman & Brand, LLP and Lurie Besikof Lapidus & Company hosted an event for Minnesota Cup semi-finalists titled, Insights on Success-From the Competitors' View to the Judges' Review. The well-attended event featured winners from previous competitions as well as division and grand prize judges.
Three times a year I spend a week or two in our "cabin" in Jerusalem, Israel. I have just returned from one of my visits and am continually inspired by the entrepreneurial spirit that pervades Israel.
As many of you may have seen recently, Federal Reserve Chairman Ben Bernanke suggested to members of the Princeton University's class of 2013 an outline for approaching their new-found freedom and ideas on living their post-college lives. In addition to such suggestions being both practical as well as humorous, many of the suggestions are applicable in today's entrepreneurial and start-up environment.
One of the many benefits in becoming a Minnesota Cup semi-finalist is gaining access to premier events focused on helping entrepreneurs and ideas advance in the competition. Last night, Gray Plant Mooty and Lurie Besikof Lapidus & Company hosted a panel discussion sharing insights on how to prepare a winning submission for the next round of the competition.
Minnesota Cup Semi-finalists, the challenge you now face is to transform that very good, but very brief, summary of your business idea into a spectacular business plan and an unforgettable presentation. But how does that happen? How do you get the judges to select your idea as the one of the top ideas in the state of Minnesota? And how do you do it in only about 30 days? What's the secret?
In 2012 I attended the Angel Capital Association conference in Austin, Texas and again this year in San Francisco. One of the trends I observed at the conferences was a clear interest by large corporations in investing in early stage businesses as a means of capturing innovation.
We are thrilled to announce the 57 teams of entrepreneurs, inventors and innovators advancing to the second round of the 2013 competition. Almost 1,100 Minnesotans entered the ninth annual Minnesota Cup, a statewide contest designed to accelerate the development of innovative business ideas. Semifinalists in six categories will now compete for their share of $200,000 and the chance to bring their entrepreneurial vision to life.