Small Business Bulletin-April 2018

Twelve small businesses and business leaders in Minnesota were named state winners of the 2018 National Small Business Week Awards, an event celebrated annually by the Small Business Administration.

Five of the 12 state winners this year were clients or affiliates of Minnesota Small Business Development Centers. They include the Central Regional SBDC Office at St. Cloud State University and Mary Lundeen, business consultant at the Center for Economic Development at the University of Minnesota Duluth.

Winners were chosen based on their success in starting or helping small businesses in Minnesota, as well as for their efforts to give back to their community.

National Small Business Week will be celebrated this year during the week of April 29-May 5. The Minnesota winners will be honored at a luncheon on May 11 in Minneapolis. In addition, the South Central SBCD will hold a Small Business Awards event on May 1 in Mankato.

MN Cup is accepting applications through April 27 for its annual new-business contest.

The nation’s largest statewide startup competition, now in its 14th season, connects and coaches early stage ventures as they compete to be named the best new business idea of 2018.

The 2018 competition features nine divisions and $475,000 in prize money. The entry divisions are General, High Tech, Energy/Clean Tech/Water, Food/Agriculture/Beverage, Life Science/Health IT, Impact Ventures, Student (undergrad or grad students), Youth (18 and under) and the newest, Education and Training. 

There is no fee to enter the competition, and no equity is taken. For more information and details on how to enter for 2018, please visit mncup.org. 

Home fragrance and personal care products company Illume Holding Co. said it will invest nearly $10.6 million in Maple Grove. Illume plans to move into a new 288,000-square-foot leased facility in the Arbor Lakes Business Park in Maple Grove. Along with the move, the company plans to add 85 jobs within two years paying wages averaging $22.21 an hour. DEED is supporting the project with a $175,000 grant from the Job Creation Fund and a $450,000 loan from the Minnesota Investment Fund.