Six innovative business ideas developed by northeastern Minnesotans are semifinalists in the statewide Minnesota Cup competition.

More than 1,000 aspiring entrepreneurs, small businesses and individuals with potential breakthrough business ideas entered the sixth annual 2010 Minnesota Cup competition. The contest awards more than $130,000 in seed capital to winners, along with professional consulting services in finance, accounting, legal and management support services.

The six northeastern Minnesota semifinalists are among 52 semifinalists in five divisions, Clean Technology & Renewable Energy, BioSciences, High Tech, General and Student.

“For northeastern Minnesota to have six semifinalists in this prestigious competition is a tribute to the ingenuity and entrepreneurship of the people of this region,” said Sandy Layman, Iron Range Resources commissioner. “In addition to the recognition that these creative business ideas bring to their creators and to northeastern Minnesota, our hope is that these ideas could grow into new business and jobs.”

Semifinalists from northeastern Minnesota and their business ideas are:

• Don Matteson, Duluth – Butrolix

• Dan Ewert, Virginia - Krisara Engineering

• Ann Harrington, Duluth - Marvel Concepts

• Amanda Little, Duluth – GeaCom

• Austin Mekesh, Virginia – Power Trowel Solution

• Cory Moran, Virginia - Pedal Powered Canoe

Semifinalists will be honored at the James J. Hill Library in St. Paul on June 22. From June 22 through July 23, semifinalists will attend Minnesota Cup workshops and events to further develop their business plans. Minnesota Cup review boards will narrow each division to three finalists after July 23. Winners will be announced at the 2010 Minnesota Cup awards event at the University of Minnesota McNamara Alumni Center on September 13.

Iron Range Resources, a member of the Arrowhead Growth Alliance, is a co-sponsor of the Minnesota Cup. Other Arrowhead Growth Alliance members co-sponsoring the competition are Area Partnership for Economic Expansion, Blandin Foundation, Greenstone Group and Minnesota Power.

Arrowhead Growth Alliance support has helped increase northeastern Minnesota submissions to the Minnesota Cup by 400 percent.

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