DEED's Big Impact on Minnesota's Small Businesses
DEED's Office of Small Business and Innovation is committed to helping businesses start and scale. We allocate funding and resources to foster vibrant, innovative and inclusive economic growth across Minnesota.
In 2023, we worked together to increase access to capital, improve connectivity between businesses and resources and expand capacity for businesses to start and scale. Our end of year report shows the impact we made together, and the foundation on which we will build in the year ahead.
Grants Return
Launch Minnesota is accepting applications for our Innovation Grants – awards that provide up to $35,000 to innovative, scalable startups in Minnesota.
Since inception, Launch Minnesota has awarded $7.6M to 221 companies. More than 60% of our Innovation Grants have been awarded to targeted businesses, which includes those that are woman-owned, veteran-owned, BIPOC-owned or located in Greater Minnesota.
Applications for the new round of Innovation Grants opened on January 2 and will close on January 31. After this month, the next opportunity to apply will be June 2024. Companies that previously received a Business Operations grant are no longer eligible for additional Business Operations grants.
Check out the Innovation Grant page on DEED’s site for additional information and to see if your company qualifies.
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.
Angel Tax Credit
Every startup needs capital to get going, and the Minnesota Angel Tax Credit (ATC) exists to make that a whole lot easier. Minnesota provides a 25% credit to investors or investment funds that make equity investments in innovative startup companies.
For 2024, $5M in credits will be available, $2.5M of which is reserved for minority- and women-owned businesses, as well as businesses located in Greater Minnesota.
Applications are currently being accepted.
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 Welcoming Wednesday - January 10
Launch Minnesota is partnering with coworking spaces and economic development agencies across the state to assist startups and small businesses during Welcoming Wednesdays.
On the second Wednesday of each month, spaces across the state spotlight a range of available business resources in their communities. There will be experts at each location, including business coaches, Launch Minnesota regional leaders and Small Business Development Center consultants.
Learn more
 Demystifying Venture Capital - January 11
With insights from banks, Community Development Financial Institutions (CDFIs), the public sector, and a technical advisor with years of experience helping founders think about finances, this event will help startup founders understand the forms of capital that could help grow their business.
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 Friday Forum: Crowdfunding - January 26
Launch Minnesota’s Friday Forums are an opportunity to discuss topics and share resources in Minnesota’s startup community. This month, we’re talking about crowdfunding with experienced founders. Join us to learn more about the benefits of exploring this nontraditional funding path.
Join with this link. Passcode: 2022
Join the Minnesota Exchange
The Minnesota Exchange, powered by local startup Kinetic, matches individuals from across the state for weekly one-on-one conversations to develop new business relationships and discover new startup resources.
The Minnesota Exchange has facilitated hundreds of hours of conversation and has grown to more than 500 members.
Some of the organizations utilizing this platform include General Mills, Grow North and BETA. MN Exchange is helping entrepreneurs find the right resources at the right time in their startup journey
Join the MN Exchange today! Code to join: 1858
Upcoming Events
Jan. 10 – How to Design a Pitch Deck
Jan. 10 – MNSBIR Info Session
Jan. 18 – empowerHER.
Feb. 9 – WE* Disrupt Conference
Find more events on Launch MN's Statewide Startup and Small Business Calendar.
Resources for Entrepreneurs:
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