Calling all startups, business owners and aspiring entrepreneurs: the 2025 MN Cup season begins with applications opening on Monday.

As the nation’s largest statewide startup competition, MN Cup identifies, supports and connects early-stage ventures throughout the state. Minnesota businesses that choose to apply can be in any stage — from a mere idea to a revenue-generating operation — as long as their annual revenue is under $1 million.

Businesses compete for a share of more than $400,000 in prize money. There is no fee to enter, and no equity is taken.

Last year, they had a record 31% of applications from outstate Minnesota.

Locally Laid from the Northland was a finalist in 2014. And 4CheckHockey was a second place finisher in their division in 2023.

Director Kailin Oliver encourages people to apply. “The application itself is a great resources, and forces you to get your ideas down on paper. Everybody is getting feedback, whether you make it to the 90 semifinalists or not.”

MN Cup’s entry divisions include General, High Tech, Education/Training, Energy/Clean Tech/Water, Food/Agriculture/Beverage, Life Science/Health IT, Impact Ventures, Student (undergraduate or graduate students) and Youth (18 and under).

“What sets MN Cup apart is our mission to simply help entrepreneurs. It’s free to participate, and no equity is taken. It’s become a rite of passage in the Minnesota startup ecosystem,” said Dan Mallin, MN Cup co-founder.

MN Cup applications must describe the product or service, market opportunity, a sales and marketing approach, a brief operating plan and high-level financial projections and assumptions. Industry judges will review entries and select 90 semifinalists from across the nine divisions.

Semifinalists will move forward and receive opportunities for education, mentorship and networking. Division winners from each of the nine divisions will be selected in August, and one will be selected as the 2025 Grand Prize Winner at MN Cup’s Grand Finale celebration on Oct. 6.

Since 2005, MN Cup has supported emerging entrepreneurs by connecting them to Minnesota’s business ecosystem. The program is especially valuable for underrepresented groups, including veterans, women and people of color. More than 26,000 Minnesotans have participated, with finalists raising over $1.1 billion in capital, creating jobs and securing business partnerships and collaborations.