The contest is focused on financial technology entrepreneurs, and TradeKing, an online brokerage, will be awarding 12 1M/1M scholarships, picked from 20 finalists, to entrepreneurs who are developing apps on their platform.
Excelerate has been very successful in finding, funding and supporting young Chicago companies. With the announcement its third class, I'm applying data-driven comparison to the largest startup incubator in the second city.
If you want to start a tech company and need capital, a web search for "venture capital firms" will return over 10 million hits. But if you have capital and just need a great idea, you are not going to find it with Google.