Crossing the finish line in the heated
Minnesota Cup entrepreneurial competition is
Preceptis Medical, a device manufacturer that's developing surgical tools for pediatric patients.
The company bested almost 1,100 competitors to nab the $40,000 grand prize, as well as $25,000 as the Life Science/Health IT division winner.
What got the judges' attention for Preceptis was the company's focus on the development of surgical innovations that would allow ear tube procedures to be performed with reduced pain and surgical time for children. Any parent who's watched a child suffer through multiple ear infections is likely to laud the kind of relief that Preceptis promises. Ear tube surgery is the most common pediatric surgery in the United States.
Now in clinical evaluation, the ear tube device and procedure have been tested on 60 patients, and Preceptis CEO Steve Anderson notes that it reduces trauma and risk, and offers greater efficiency for the surgeon.
"This year has been exhilarating," says Minnesota Cup co-founder Scott Litman. "We've had the best collection of presentations in our history, including the one from this year's winner, Preceptis Medical."
He added that 2014 will be the competition's 10th anniversary, and the competition's leadership is already brainstorming ways to grow the contest and involve more Minnesotans. Litman says, "We will discover and help more entrepreneurs to build better business plans and achieve long-lasting success. And of course, our ultimate goal is to cement the Minnesota Cup as a permanent part of the business landscape."
Source: Scott Litman, Minnesota Cup
Writer: Elizabeth Millard