New Launch Minnesota Grantees
DEED has awarded $1,189,500 in Launch Minnesota Innovation Grants this fiscal year to 43 local companies. Over half of these grants went to targeted founders, which Launch MN defines as BIPOC, veteran or woman-owned businesses, or companies based in Greater Minnesota.
Since its inception during the 2019 legislative session, Launch Minnesota has awarded 245 Innovation Grants totaling $6M to 176 unique grantees – accelerating the growth of startups and amplifying Minnesota as a national leader in innovation.
The program has $3M this biennium, $1.5M each fiscal year to provide grants to high-growth startups. Launch Minnesota has $310,500 remaining this fiscal year, which ends June 2023.
Get to know our new grantees
SSBCI Brings $97M to Minnesota Small Businesses
DEED announced Friday that it secured nearly $100M in new funding to support small businesses through the State Small Business Credit Initiative (SSBCI).
The federal government has approved Minnesota for up to $97M in small business financing support, which allows DEED to carry out its commitment to helping small businesses grow and succeed.
Minnesota will receive funds in three disbursements over several years; the initial disbursement from the U.S. Treasury is approximately $29.5M. DEED launched its first SSBCI program, Minnesota Loan Guarantee, last week.
DEED's new Small Business Hub has the latest news on SSBCI.
TOMORROW: Friday Forum Featuring Grid Catalyst
Launch Minnesota’s Friday Forums are an opportunity to discuss the topics facing Minnesota’s startup community. Friday, October 28 at 8:30am, we’re discussing clean energy technology with local accelerator Grid Catalyst. Join us to hear how Minnesota is becoming a hub for this innovative technology. Panelists include:
Launch Minnesota Partners Receive EDA Grants
Congratulations to our partners!
Greater MSP and Red Wing Ignite were selected to receive “Build to Scale” grants from the U.S. Secretary of Commerce’s Economic Development Administration (EDA).
Build to Scale provides annual grants that aim to accelerate technology entrepreneurship by increasing inclusive access to entrepreneurial and support capital. The 51 awardees in 2022 will leverage their funds to advance bioscience, clean energy, manufacturing and more.
Learn more
New Guide: Starting a Business in Minnesota
If you or someone you know is in the early stages of starting a business, check out DEED’s new guide: 5 Steps to Starting a Business in Minnesota. This informative one-page document helps you ask the right questions and identify the best resources for your startup.
ScaleUp Accelerator Cohort
ScaleUp, a new course through the University of Minnesota’s Technological Leadership Institute, has selected seven startups to participate in its first cohort.
A scale-up is a relatively young, rapidly-emerging, innovation-driven company that's experienced a high level of growth over the past year. ScaleUp Minnesota, powered by funding and support from Launch Minnesota, mentors technical founders and teaches them how to build the capacity and experience to grow a company.
Here are the companies participating in the first cohort:
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GogyUp: Developing assistive reading technology to increase patients’ ability to understand, manage, and communicate information about a chronic disease. (Launch MN Grantee)
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Kavira Health: A direct-to-employer healthcare provider offering care through house visits and a mobile app.
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Adcura: Creating a medical device that improves quality of life for patients suffering from spine related issues while addressing current surgical inefficiencies.
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BKB Floral Foam: Working toward a renewable and compostable future for the floral and horticultural industries by making sustainable replacements for current foams made from fossil fuels.
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Advisory Aerospace: Developing a plug-and-play production scheduling optimizer for aerospace manufacturers using their current data streams. (Launch MN Grantee)
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Sparrow Charts: Developing a SaaS platform that assists marketing agencies by generating better performance reports for their clients. (Launch MN Grantee)
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Radwave Technologies: Developing electromagnetic tracking solutions for use in minimally-invasive robotic surgeries. (Launch MN Grantee)
 New Fergus Falls Coworking Space
Earlier this month Greater Fergus Falls officially opened The Foundry, a hybrid coworking center and startup accelerator located in downtown Fergus Falls. Launch Minnesota attended the grand opening event and hosted a roundtable discussion about innovation in West Central Minnesota.
In front of a packed house, a panel consisting of startup founders, city leaders and economic development professionals shared how Fergus Falls and other towns in the area are creating support systems for innovative new businesses.
Follow Greater Fergus Falls for updates on The Foundry and other startup initiatives.
Opportunity to Pitch at SXSW
Did you know you can apply to pitch at SXSW? The conference is looking for companies with a product and/or service conceived no later than March 11, 2021 to participate in next year’s pitch competition. Those selected to pitch will receive SXSW registrations, which typically range from $1,000-$2,000.
Don’t miss the final deadline! All applications are due Nov. 13.
Learn more
Open Board Positions
There are currently open positions on Launch Minnesota’s Advisory Board . The mission of our board is to grow our state’s innovation economy while supporting entrepreneurs and emerging technology. If you are interested in joining these efforts, visit this link to learn more. We will close applications on November 11th.
Upcoming Events
Oct. 26: North Reimagined – Grand Rapids Coworking Space Debut
Nov. 2: Southwest Regional Roundtable
Nov. 8: MIN-Corps Early Stage Startup Funding
Nov. 16: TCB Talks: Fueling Startups
Nov. 14-20: Global Entrepreneurship Week
More events on Launch Minnesota’s Startup and Small Business Calendar
Resources for Entrepreneurs:
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