Four Minnesota Entrepreneurs Are Finalists in MEDA’s Million Dollar Challenge
The Minneapolis-based Metropolitan Economic Development Association (MEDA) has unveiled the 12 finalists in its annual Million Dollar Challenge. Four of the finalists are from Minnesota-based startups.
The national challenge, now in its fourth year, is a pitch competition geared toward entrepreneurs who are Black, Indigenous, or other People of Color (BIPOC).
In a news release, MEDA officials said the organization received more than 200 applicants for this year’s competition. The 12 chosen finalists will now participate in a virtual “bootcamp” to hone their pitches and prepare for their final presentation on Sept. 21. The final stage of the competition coincides with Twin Cities Startup Week.
The four finalists from Minnesota are:
- Eagan-based video game startup Seraph 7 Studios, whose founder was featured on the cover of TCB’s February/March issue.
- Woodbury-based Top 5 Colleges, which helps students make financial preparations for college
- Rutledge-based 40 Acre Co-op, which bills itself as the first national agricultural cooperative for socially disadvantaged farmers
- St. Paul-based HercLeon America LLC, seller of clothing and bedding designed for minimal washing
“As we continue to recover from the past year, the resiliency of these companies is inspiring,” MEDA president and CEO Alfredo Martel said in a news release.
The other finalists were:
- Plano, Texas-based Takachar Limited
- Los Angeles-based Fil2R
- Philadelphia-based Equipt
- Austin, Texas-based Throw-A-Weigh
- Chantilly, Virginia-based Bon AppeSweet
- Brooklyn-based Slick Chicks
- Brooklyn-based Rise Products Inc.
- New York City-based Fitnescity
The finalists will compete for a share of a million-dollar prize package. Last year, MEDA distributed $1.1 million to six BIPOC entrepreneurs.