BEMIDJI-It was a great night for creativity at BSU Tuesday, with the finale of the 11th annual IDEA Competition.
As per usual the competition, organized by the Northwest Minnesota Foundation, awarded three finalists with financial prizes. However, this year's version added something new.
"We have five finalists this year, but it's the first year we've ranked the awards," IDEA Coordinator Philip Knutson said. "In the past, we've done three equal awards, but this year we changed judging a bit to have first-, second- and third-place finishes to push the envelope. We wanted to make it stand out more as a competition."
Every year, the competition awards three emerging entrepreneurs cash prizes, along with business coaching and consulting. The three are whittled down from 16 to 18 entries, Knutson said.
This year, the first place prize went to ELITE Additive by Mike Block of Bemidji, who received $10,000. According to a release, the business provides professional automation technology, 3D printing and additive manufacturing services.
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D3D also took home the MN Cup Award, which includes an automatic entry into the MN Cup competition semi-final round. The MN Cup competition is a statewide resource for early entrepreneurs that supports and accelerates the development of breakthrough business ideas, a release said.
Second place went to Bullseye Variable Diameter Discharge by Gary Ward of Twin Valley, who received $5,000. The business model is centered on grain storage by helping to maximize storage capacity, the release states.
In third place was D3D by Bryce Oakes of Bemidji, along with Todd and Melinda Sandwick of Fosston. The entrepreneurs were awarded $3,500 for their model of a new dental appliance for dentures.
The runners-up in the competition included Silver Wings Coffee Co. by the Hokuf Family of Bemidji and Lake of the Woods Brewing Co., by Taras and Audry Manzie as well as Eric and Lindsay Nerland of Warroad. Both received $2,000.
According to Knutson, the winners are decided by a panel of judges who come from various professions, as well as past winners.
"We're really in a region where there's a solid group of entrepreneurs," Knutson said Tuesday. "It's part of our area. And with this competition, by putting a time frame on it and providing resources, it can give a different level of energy for people and help things develop faster."
In addition to the competition winners, Michelle Landsverk was honored with the Regional Impact Award for her years of service as a community leader and entrepreneur. Landsverk owns her own consulting firm, Landsverk & Associates in Fosston.
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