Minnesota medical device startup receives $76,000 in non-dilutive funding through the nation’s largest statewide startup competition
EDINA – September 15, 2026 – Octin Health, a Minnesota-based medical device company developing the Elika Device™ to address risks associated with aortic arch surgery, announced today that it has been named the 2026 MN Cup Grand Prize winner.
Octin Health received a total of $76,000 in non-dilutive funding through the competition, including the $50,000 Grand Prize, $25,000 for the Life Science/Health IT Division winner, a $1,000 Audience Favorite award.
Now in its 22nd year, MN Cup is the nation’s largest statewide startup competition and a program of the Gary S. Holmes Center for Entrepreneurship at the University of Minnesota’s Carlson School of Management. More than 2,800 founders participated in the 2026 competition, which connects entrepreneurs from across the state with mentorship, resources, and exposure to help advance their ventures.
The months-long competition challenged participants to develop and refine their business plans, pitch decks, funding strategies, and commercialization approaches with guidance from experienced mentors, entrepreneurs, investors, and industry leaders. From the initial applications, only nine companies ultimately were selected as division winners and considered for the Grand Prize.
For Octin Health, the recognition represents an important external validation of both the significance of the clinical problem the company is working to address and the strength of the business being built around its solution.
About Octin Health
Octin Health was founded in 2024 by Dr. Meghana Helder, a practicing cardiovascular surgeon, who is passionate about making aortic arch operations safer for patients. Octin Health is developing the Elika Device to eliminate the need for deep hypothermic circulatory arrest, improve efficiency and reduce healthcare costs for hospitals.
About MN Cup
MN Cup is a community-led, public-private partnership that brings together corporations, VCs, foundations, government and skilled volunteers to support Minnesota’s entrepreneurs. The core of its programming is an annual competition that reaches emerging entrepreneurs from across the state and connects them with tools, resources and support to launch and accelerate the development of their new ventures. The competition inspires entrepreneurs to begin their startup journey, supports them as they develop a solid business plan, provides exposure for their ideas and offers numerous opportunities to expand their networks.