Minneapolis medical-device startup Octin Health won the 2026 MN Cup grand prize on Monday, giving the five-person company $76,000 in non-dilutive funding as it prepares to submit its aortic-surgery device to the U.S. Food and Drug Administration for clearance early next year.

Octin Health’s Elika device is designed to allow surgeons to maintain blood flow to the brain and body during aortic arch surgery, potentially eliminating the need for a dangerous procedure known as deep hypothermic circulatory arrest that stops all blood flow in the body.

The company plans to submit Elika to the U.S. Food and Drug Administration for clearance early next year.

The company went through multiple rounds of evaluation during MN Cup, pitching its business to industry experts and investors. That process provided outside validation, which Laura Walter, chief operating officer of Octin Health, says was particularly valuable for the young medical-device company.

“It wasn’t about being ‘Minnesota nice,’ but rather, trying to elevate us and tell our story better,” she says.

That feedback comes at an inflection point for Octin as it moves toward commercialization.

How did Octin Health get its start?

Octin Health was founded after CEO and cardiac surgeon Dr. Meghana Helder encountered the challenges of complex aortic procedures firsthand. In 2023, Helder began discussing her startup idea with other surgeons and received the feedback that ultimately helped convince her to move forward. The company launched the following year.

Aortic surgery is among the most complex and high-risk procedures in cardiac surgery. National data shows an operative mortality rate of about 9%, according to the company’s website.

Traditionally, to create a clearer surgical field during aortic procedures, surgeons place a patient into deep hypothermic circulatory arrest. This technique stops circulation altogether by cooling a patient’s body to reduce metabolic demand, Walter explains.

While the approach allows surgeons to work on the aorta without blood obscuring the surgical field, it also temporarily deprives the brain of oxygen. The longer circulation is halted, the greater the risk for complications.

Octin’s Elika device is intended to address that limitation by maintaining blood flow during the procedure, which has not been achieved in the medical-device field, Walter adds. Elika is a specialized cardiopulmonary bypass tube inserted into a vein.

“This is a common-sense solution for complex procedures,” Walter says. “It just makes sense.”

Octin Health’s MN Cup win builds on existing traction

The startup has already raised $2.5 million in seed funding. Walter says the company eventually plans to raise a Series A fund.

“Every dollar of non-diluted is amazing for a startup,” she adds.

The $76,000 MN Cup grand prize money will go toward product development and regulatory work to receive FDA approval for its device.

MN Cup, operated by the University of Minnesota’s Carlson School of Management, connects entrepreneurs across Minnesota with education, mentorship, and funding. Since 2005, when MN Cup started, over 32,000 Minnesotans have participated, $6.2 million in cash prizes have been awarded, and its alumni have gone on to raise over $1.1 billion in capital, according to the Minnesota Carlson website.