The aim of the Signal Processing Cup (SP Cup) competition is to provide undergraduate students with an opportunity to form teams and work together to solve a challenging and interesting real-world problem using signal-processing techniques and methods. The inaugural event was held on 8 May 2014, at ICASSP2014, Florence, Italy. Three teams were selected to present their work for the final competition, and the prizes were awarded at the conference. The title of this inaugural competition was "Image restoration/Super-resolution for Single Particle Analysis", which was proposed by the Bio Imaging and Signal Processing (BISP) Technical Committee. The final competition results are as follows: First Place Team name: EPOCH Team members: Anik Khan, Forsad Al Hossain, Tawab Ullas, Md. Abu Rayhan, Mohammad Ariful Haque Institution: Bangladesh University of Engineering and Technology Second Place Team name: NtUeLsA Team members: Kai-Wen Liang, Yen-Chen Wu, Guan-Lin Chao, Kuan-Hao Huang, Shao-Hua Sun, Ming-Jen Yang, Po-Wen Hsiao, Ti-Fen Pan, Yi-Ching Chiu, Wei-Chih Tu, Shao-Yi Chien Institution: National Taiwan University Third Place Team name: Uchihas Team members: Emroz Khan, Shiekh Zia Uddin, Mukhlasur Rahman Tanvir, Md. Kamrul Hasan Institution: Bangladesh University of Engineering and Technology Congratulations to these three teams! All three teams performed extremely well in terms of both their proposed work for the competition title and their presentations at the final competition. The SP Cup competition will be an ongoing feature at future ICASSP conferences.