Judges from the Minnesota Cup business plan competition have just named PreciouStatus the winner of this years High Tech division — earning them a $25k cash prize, supporting services and broad visibility.
PreciouStatus is a mobile application platform that allows care providers, family members, and loved ones to interact real-time throughout the day to relieve stress and concern. Best Buy executive turned tech entrepreneur Julie Gilbert-Newrai founded the company two years ago in response to her own simultaneous struggles around childbirth and death defying family illness. The venture has since raised $1.2m in equity financing.
Known as the state’s largest entrepreneurial competition, the High Tech division is notoriously competitive. Over 100 initial applications were narrowed down to 11 semi-finalists in early June before the three finalists, including Docalytics and Heroic, were selected about one week ago. Notably, Heroic was named the runner up, earning some differentiation and $5k in cash.
“We’re really surprised that we won, to be honest,” Julie said in actual shock.
PreciouStatus will be competing against five peer division finalists (Student – Cognific; General – LifeFloor; Social – Toloko; Clean Tech – Envirolastech; BioScience – TBD) on September 6th at McNamara Alumni Center for an additional $40k as part of the overall grand prize.