Northwest Minnesota is a place where ingenuity thrives. The region, which has come to be known as the "Ingenuity Frontier," is an area like no other in the Midwest, dotted with manufacturers and technology companies thriving within a local culture of engineering knowledge and creativity.

Now entering its fourth year, the IDEA Competition was designed for one purpose — to grow the economy of Northwest Minnesota by outfitting the next generation of homegrown innovators for success in the global marketplace. Simply put, IDEA is a competition that selects entrepreneurs with the most promising breakthrough ideas and assists them in reaching product commercialization. Winners not only earn a $10,000 cash award to help them fund their business effort, but receive services and direction from some of the best business resources Northwest Minnesota has to offer.

IDEA was launched through the efforts of several partners who pooled their experience, services, and knowledge to frame a program that would be effective for helping these new stars of our future. The 3 year pilot was initially supported by grants from Blandin Foundation and sponsorships by these partners.

It has been exciting to see the impact that has already been made by our award recipients. Ten of the businesses have reached commercialization, with one securing a contract in excess of $1 million. The remaining winners are all moving towards commercialization and continue to receive guidance along the way from an IDEA business advisor.

IDEA believes in the ingenuity of the people who call Northwest Minnesota home. In fact, the region is home to several world-class manufacturers, including Arctic Cat, Central Boiler, Digi-Key, Marvin Windows and Doors, Polaris and TEAM Industries. Without exception, each of these companies was launched by a innovator who had a dream and was able to access the resources to make that dream a reality.

Some might call IDEA a competition, but it is so much more. Now in its fourth year, IDEA is here to assist the most promising local entrepreneurs in the commercialization of innovative products, processes and deliveries by connecting them to the best resources available, along with access to the capital it takes to launch a successful venture.

There are a lot of good ideas out there, but only a handful of business people who are able to take a breakthrough idea and turn it into a profitable business. Our goal is to truly impact the economy of our region by bringing entrepreneurs, educators and investors together.