"The company has previously raised $8 million over two rounds, but has been in beta until now." This seems idiotic. They should have had a restriction on what

"The company has previously raised $8 million over two rounds, but has been in beta until now." This seems idiotic. They should have had a restriction on what kind of startups (i.e. only angel funded or bootstrapped) could win the prize. Except of course, if it was just a giant techcrunch publicity stunt. Giving $50k to this company is about as disruptive as, well, sliced cheese.