Minnesota student startup wins $50K in Heartland Challenge
by April 24, 2024 2:28 pm 405 views
Telo, a student startup from the University of Minnesota, won first place in the 2024 Heartland Challenge. The startup is developing assistive walking devices with integrated technology.
Telo, a student startup from the University of Minnesota, won the 2024 Heartland Challenge.
The fifth-annual competition took place April 11-13 at Ledger in downtown Bentonville and was hosted by the Sam M. Walton College of Business and overseen by the Office of Entrepreneurship and Innovation. According to a news release, the Heartland Challenge was designed to simulate the process of raising venture capital for a high-growth enterprise.
Telo received $50,000 in the competition. According to the release, Telo is developing assistive walking devices with integrated technology to improve physical therapy — the first significant innovations to assistive walking devices in more than 40 years. Telo looks to make fundamental changes to the rollator walker. Its patent-pending reverse frame puts “the user at the center,” co-founder Morgan Kerfeld said. “So, they are seen first, not the rollator.” Telo’s device also offers back support for more stability. Via a mobile app, Telo provides metrics for speed, distance and reliance — allowing users to track their activities, set goals, monitor progress and enhance physical therapy.
“Working with chronically ill people that have mobility issues or elderly that experience something similar, it’s deeply personal to us,” co-founder Steven Bleau said.
Telo was one of 12 semifinalists in the competition. RHM Innovations from the University of Rochester was second, earning $25,000. Thryft Ship from the University of Georgia was third, receiving $10,000.
The Heartland Challenge is the first global student startup competition in Arkansas, and since its first hosting in 2020, it has awarded nearly $500,000 in prize money.
The Walton Family Charitable Support Foundation provided primary support for the Heartland Challenge. Sponsors included New Road Capital Partners, Visit Bentonville, Symbiosis, Cortado Ventures, Delta Solar, Cadron Capital, Arkansas Capital, Natural Capital, Arkansas Blue Cross and Blue Shield and Walton College’s Master of Science in Finance Program.