A stem cell research company won this year's MN Cup

Author:
Updated:
Original:

A Minnesota competition to find the state’s best startup of 2016 has declared its winner.

StemoniX was the MN Cup's Life Science/Health IT division winner a few weeks ago. Thursday, the stem cell research company won the grand prize and was named the "best breakthrough business idea of 2016."

The company creates organ cells from skin cells. And according to the news release, "is revolutionizing the production, growth and manufacture of human heart and brain cells for drug toxicity and efficacy testing."

So what'd StemoniX win?

The company got $30,000 for winning the Life Science/Health IT division. Then for winning the grand prize, it got another $50,000 in seed capital and other benefits to help build its business.

“Winning the MN Cup has been a long-held dream — we can’t quite believe it came true tonight,” Ping Yeh, the CEO and founder of StemoniX, said.

The biggest MN Cup yet

MN Cup is already the country’s largest statewide competition of its kind.

And this year, 1,500 entrepreneurs participated – more than ever before. The amount of prize money this year has also set a new record: $405,000.

There was also a new youth division this year for entrepreneurs 18 and under.

Other awards

Asiya – The company designs sport and activewear for Muslim women, and won awards for being the top woman-led business, and the top minority entrepreneur with the most innovative business concept.

Sezzle – They won an award for having an innovation that shapes the future of financial services or life insurance through technology.

FanSchool – The startup won the most innovative education technology that builds 21st century skills.

Farmhouse Market – Took home a prize for an innovation that improves the lives of low-income seniors.

Another $12,000 in in-kind prizes were given to four Food/Ag/Bev Division teams: SelfEcoBolton BeesFar North Spirts and True Dough.

For more information, click here.

Next Up

ann kim

Ann Kim's new restaurant, Sooki & Mimi, to open in February

The James Beard Award winner is the brains behind Young Joni, Pizzeria Lola, and Hello Pizza.

Screen Shot 2021-01-19 at 1.32.19 PM

Firefighters rescue worker after trench fall in Rochester

The construction worker fell about 15 feet.

gray wolf

Grand Marais mayor's dog survives attack by wolves

He heard his 65-pound dog "screaming bloody murder" and then saw the wolves chasing her.

Screen Shot 2021-01-19 at 12.04.55 PM

Minnesota's COVID vaccine appointment site goes live

Huge demand was expected when the site went live at noon.

emily ford

Duluth woman is hiking 1,000-plus miles on the Ice Age Trail this winter

She could be the second person ever to finish a winter-thru hike of the Wisconsin trail.

coronavirus, covid-19, icu

Here is Minnesota's COVID-19 update for Tuesday, January 19

Two days in a row with fewer than 1,000 new cases.

Screen Shot 2021-01-19 at 10.52.12 AM

After fire destroyed their house, couple forced to euthanize beloved dog

The couple's daughter has launched a fundraiser for her parents.

Screen Shot 2021-01-19 at 10.16.14 AM

Investigation after teacher accused of lewd act during distance learning

No charges have been filed yet and the staff member has not been identified.

cook county schools

Investigation after assistant principal displays "joke" Gadsden flag during announcements

"My apologies to anybody who was offended by that part of the snake that was on that comic and it's been taken down."

Forest - orono, Minnesota

Report: Forests, agricultural land could help Minnesota reduce greenhouse gas emissions

The Nature Conservancy's Minnesota chapter released a report that shows how many acres of trees would be needed to help the state reach its reduction goals.

Related

A stem cell research company won this year's MN Cup

StemoniX, a stem cell research company, has won the 2016 MN Cup.

University of Minnesota researcher files complaint against Texas stem cell operation

University of Minnesota bioethicist Leigh Turner filed a complaint with the FDA over a stem cell company pushed by Texas Governor Rick Perry. The complaint says CellTex Therapeutics Corp. violates FDA regulations by injecting adult stem cells into paying customers. Perry was the company's first customer.