The 11th annual Minnesota Cup began accepting applications Monday.
The competition, which will award $327,000 in prize money this year, invites Minnesota entrepreneurs to pitch their business concepts for a chance at seed funding.
The winner in each of the competition’s seven divisions will receive $30,000. A grand prize winner, chosen from the crop of division winners, will receive an additional $50,000.
Last year’s grand prize winner was Mankato-based 75F, whose cloud-based HVAC management software is designed to save on energy costs.
More than 9,000 Minnesotans have participated in the competition in the past 10 years, according to a news release from the state’s Department of Employment and Economic Development.
Competing businesses cannot be generating more than $1 million in annual revenue. They have until May 8 to submit their applications. More information can be found at carlsonschool.umn.edu/mn-cup.
— Nick Woltman
NAMES
Universal Hospital Services, Edina, announced that Thomas J. Leonard has been appointed as its chief executive officer and a member of its board of directors effective April 13. … Medical device maker Urologix, Plymouth, announced the appointment of Scott M. Madson as its chief financial officer effective April 1. … U.S. Bank, Minneapolis, has promoted Dominic Venturo to the role of executive vice president and chief innovation officer.
BRIEFLY
Wells Fargo, Minnesota’s largest bank by deposits, announced an update to its mobile banking phone app that provides customers with the option of selecting Spanish as their preferred language.
