Update: After The Minnesota Cup

Update: After The Minnesota Cup

Startups in the state see success after winning the funding contest.

Minnesota may not boast the flashy disruptors like Snapchat or Uber, but the state is fostering many game-changing products, especially in the health care and technology fields. That’s where the Minnesota Cup comes in.

The organization, composed of a network of more than 250 professionals/volunteers, fosters early-stage companies and holds an annual competition to honor the best.

This year, 75F, a Mankato company, took the top prize. It creates cloud-based software that controls office HVAC software to produce energy savings. Less than a month later it walked away with $100,000 from AOL co-founder Steve Case in his “Rise Above the Rest” pitch competition.

Besides the prize money—this year, 75F took home $105,000—and a host of other support services—companies cite increased public awareness and investor interest. In light of 75F’s big year, we thought we’d take a look at how other recent MN Cup winners have fared.

2010: EarthClean

Founded: 2009
Product: TetraKO, a non-toxic, biodegradable fire-suppressing chemical that is mixed with water.

Where are they now?

  • Working on new environmentally friendly products.
  • Applied for and received several patents.
  • Shipping product both domestically and internationally.

2011: AUM Cardiovascular

Founded: 2009
Product: CADence, a handheld device that can detect clogged arteries in less than 20 seconds

Where are they now?

  • Raised $5.4 million in angel funding.
  • Completing a pivotal study on the product.
  • Received quality-management certification for product.
  • Moved into a new facility in 2013 and have seven full-time staff.

2012: PreciouStatus

Founded: 2011
Product: Mobile software that health care and other providers can use to update the status of those receiving care.

Where are they now?

  • Has clients in all 50 states and 13 countries.
  • Launched new vertical niches, including child care, K-12 education, health care and pet care.
  • Enabled over 126 million updates between professionals and families.

2013: Preceptis Medical

Founded: 2011
Product: A device that reduces the time it takes to place tubes in children’s ears to 15 seconds, by allowing doctors to make the incision and insertion in one motion.

Where are they now?

  • Closed a round of equity financing in January 2014.
  • Continues to run clinical trials.
  • Received patent approval in the U.S.
  • Cleared by the FDA to market.

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