The university's new Quantum Startup Foundry could give participating companies the ability to work with federal agencies like the Defense Department.

A team that enables gas stations to update prices and track sales remotely won the top prize at the annual competition.

Direct-to-consumer models are popular, but big firms like Coursera and CampusLogic continue to thrive, too, with encouragement from the health crisis.

Eight winners receive a $25,000 grant and one year of mentoring and access to co-working space after the university's first virtual edition of the challenge.