2025 MN Cup Winner: AcQumen Medical’s Path to Innovation
For years, Dori Jones had been told, “You’ll be running a company one day.” A combination of professional exposure to pediatric tech and personal experience with her son’s NICU stay led Jones to co-found AcQumen Medical in June 2024. With a mission to improve care for critically ill children and babies, Jones and her team are determined to take on the delicate task of creating medical technology specialized for small, vulnerable bodies. AcQumen Medical has developed UltraTrac, a noninvasive system for measuring cardiac output and analytics using ultrasound technology.
“Not a lot of companies are designing pediatric tech. Pediatric healthcare providers are very scrappy. They find solutions to care for their patients by combining or adapting existing technologies, often designed for adults,” Jones says. She noticed distinct gaps in what clinicians were able to do with the existing technology and saw an opportunity to become the leader her mentors had always known she’d be. Medical professionals backed Jones’ ideas almost immediately. “I heard resounding support across specialties and facilities, so the need for this technology was validated early on.”
Jones is an engineer with nearly two decades of experience supporting cardiac and critical care devices. From professional expertise in hands-on engineering, marketing and outreach, and research consulting, Jones knows above all how to make dynamic connections and broaden her network to enhance AcQumen’s impact.
“My previous company has gone on to work on pediatric specific tech with lots of nuance and complexity—it’s clear that there’s a need to design around the physiology of babies and children specifically,” she says, “This prepared me for the excitement and challenges of working with pediatric clinicians. I learned that they tend to be early adopters, and their level of energy and advocacy for the product has been exciting.”
Success at the MN Cup
With two existing patents and two pending patents, Jones and her skilled team have worked hard to engage in strategic academic and medical partnerships to promote UltraTrac and related innovation and clinical research. With great momentum and success, AcQumen Medical accepted the 2025 MN Cup Grand Prize in early October.
The MN Cup is the country’s largest statewide entrepreneurship competition; a record 3,617 Minnesotans entered the contest this year. It’s a monthslong experience that includes mentorship, educational workshops, and networking via Minnesota Carlson’s Gary S. Holmes Center for Entrepreneurship, culminating in cash awards to launch and accelerate the leading ventures. As Kailin Oliver, Director of MN Cup, explains, “Our vision is for MN Cup to be one of the first steps Minnesotans take as they begin their entrepreneurial journey. It’s incredible to see companies from every stage and sector come through the program every year with new ideas and a drive to make their mark in Minnesota’s startup ecosystem.”
AcQumen’s Grand Prize earned the company $50,000, in addition to the $25,000 award for winning the Life Science/Health IT division and another $25,000 awarded to Jones in the category for women-led businesses. “Funds are a big plus and go directly to development efforts surrounding clinical studies and adapting tech to user needs,” Jones says. “All of the MN Cup programming led to AcQumen being better positioned to fundraise, and more solid on our business plan as a result of judge feedback, especially since they had life science experience.”
Feeding the Ecosystem
Scale Bank sponsors the MN Cup because of the way it enthusiastically and meaningfully supports Minnesota’s innovators—the competition offers unparalleled opportunities to strengthen the startup ecosystem and find inspiration among dynamic problem-solvers across the state. When big ideas converge with people who are ready to be inspired, something like the MN Cup becomes more than a competition, but fertile ground for strong leaders to learn, share, and grow as they look toward the future.
Scale’s continued involvement is meant to demonstrate that the business community is rooting for the success of those competing. Brendan O’Meara, Scale’s Chief Credit Officer, served as a judge in this year’s General Division. He says, “Volunteering as a judge for this year’s MN Cup was a great experience! I was excited to support Minnesota’s incredible entrepreneurs and innovators.” Entrepreneurship can feel like a lonely endeavor, and Scale knows that the MN Cup experience brings essential and meaningful connection to the startup community in Minnesota.
A community-led effort, MN Cup convenes corporations, investors, foundations, government, and dedicated volunteers, all in support of Minnesota’s most motivated entrepreneurs. Jones acknowledges the impact of this public-private partnership, saying, “The word ecosystem can be overused, but that is not the case here. The startup scene in Twin Cities is proof that this truly is an ecosystem. It was really exciting to see all the new solutions and movement happening out there.”
Celebrating Success, Moving Forward
Dori Jones and the AcQumen Medical team have been presenting their innovations across the country, gaining momentum and critical funding and support as they move UltraTrac forward through clinical trials with an aim of FDA submission by late 2026. MN Cup was an essential period of refinement for AcQumen’s plans for the future, and it came at just the right time. The company is experiencing growth and success, rooted in Jones’s experience being the mom of a NICU baby and pediatric ICU patient. Dori credits her talented team for the company’s success and for helping bring her vision to life.
“I would like to dedicate this win to every baby or child, [and] every parent or caregiver that’s sitting by their bedside, and every doctor or nurse caring for them and saving lives every day,” Jones said as she accepted the Grand Prize.
