Congratulations to past MIN-Corps participants Anatomi Corp, Farm Vision Technologies, Darcy Solutions, and Aurora Concussion Therapy Systems, Inc., as well as other University of Minnesota spinouts and Minnesota Cup participants for earning the first set of Minnesota Department of Employment and Economic Developments (DEED) Launch Minnesota innovation grants! See below for more info from Launch Minnesota:
DEED Awards Launch Minnesota Innovation Grants to 20 Minnesota StartupsThe Minnesota Department of Employment and Economic Developments (DEED) has awarded over $672,000 in Launch Minnesota Innovation Grants to 20 technology startups throughout the state. These grants require a one-to-one match with private dollars, bringing the total potential investment in these startups to over $1.3 million.
Launch Minnesota is a statewide collaborative effort to accelerate the growth of startups and amplify Minnesota as a national leader in innovation. Grants are targeted to the most promising, innovative, and scalable technology businesses in the state.
The Minnesota Department of Employment and Economic Developments (DEED) has awarded over $672,000 in Launch Minnesota Innovation Grants to 20 technology startups throughout the state. These grants require a one-to-one match with private dollars, bringing the total potential investment in these startups to over $1.3 million.
Launch Minnesota is a statewide collaborative effort to accelerate the growth of startups and amplify Minnesota as a national leader in innovation. Grants are targeted to the most promising, innovative, and scalable technology businesses in the state.
Launch Minnesota is a statewide collaborative effort to accelerate the growth of startups and amplify Minnesota as a national leader in innovation. Grants are targeted to the most promising, innovative, and scalable technology businesses in the state.
“Launch Minnesota is off to a strong start. We’ve had an overwhelming response to our innovation grants so far,” said Kevin McKinnon, DEED Deputy Commissioner for Economic Development. “We’re impressed by what we’ve seen from Minnesota’s high-tech entrepreneurs.”
“I’ve seen firsthand that early stage startups need help reducing the risk of entry for scaling up their businesses – and Launch Minnesota’s Innovation Grants do just that,” said Jodi Hubler, Launch Minnesota Advisory Board Chair. “It’s exciting to be part of this movement to grow Minnesota’s startup scene.”
“Launch Minnesota is building on the energy of our state’s entrepreneurs, who are eager to expand their businesses, solve real world problems, and grow our Minnesota’s innovation ecosystem,” said Neela Mollgaard, Launch Minnesota Executive Director.
The Launch Minnesota Advisory Board, comprised of 10 individuals with diverse expertise, is the first to review grant applications. They evaluate the technology and possible ROI for Minnesota. The applications then proceed to an internal review committee for additional evaluation. The internal review of the next batch of grant applications will be completed by the end of February. Grant applications will continue to be reviewed on a rolling basis until the $1.6 million in fiscal year 2020 funding for Launch Minnesota Innovation Grants is fully awarded. In July, another $1.6 million in funding will be available for fiscal year 2021.
In the first grant round, 17 business operations and three SBIR Phase II grants were awarded to 20 startup companies. Five individual founders at four of the 20 startup companies also each received a $7,500 housing and childcare grant.
Visit LaunchMinnesota.org or visit the Launch Minnesota grants section of the DEED website to learn more about grant opportunities and access application materials.
