Launch Minnesota Newsletter: March 2024 Edition

View as a webpage / Share


Updates from the Office of Small Business and Innovation

Governor Walz Urges Small Businesses Impacted by Lack of Snow to Apply for Business Assistance 

As Minnesota continues to face record-high winter temperatures, Governor Tim Walz today announced that Minnesota has unlocked federal funding for small businesses impacted by this winter’s historic drought conditions. Amid the warmest winter on record, federal Economic Injury Disaster Loans are available because of ongoing federal drought declarations affecting 81 Minnesota counties. Governor Walz urges small business owners to apply for assistance as soon as possible. 

Submit applications and find additional disaster assistance information at https://lending.sba.gov. Applicants may also contact Minnesota’s Small Business Development Centers and SBA’s Customer Service Center at disastercustomerservice@sba.gov. You can also call 800-659-2955 from 7:00 a.m. – 7:00 p.m. CT Monday through Friday.

Read the full press release on this disaster program.


MSP Equity Accelerator: Applications Open Until March 29th 

The MSP Equity Accelerator is a 12-week intensive program empowering high-growth, early-stage companies led by Black, Brown, and women entrepreneurs. Secure $100,000 in funding, gain access to expert mentors, and receive tailored support to propel your startup forward. Applications close March 29th! Join an office hour to discuss your eligibility and receive application guidance. Don't miss this opportunity to accelerate your business growth.  


MN Cup logo

Minnesota Cup Applications OPEN 

2024 MN Cup Applications are open until April 12th! 

MN Cup programming is completely FREE and open to any Minnesota-based startup with less than $1million in revenue. For more information check out our website mncup.org. 


St. Thomas Engineering Senior Design Clinic seeking projects for 2024-2025.  

 We would love to include local startups in the project lineup!  

 Key benefits include: 

· Design engineering, prototype development and testing of new products and processes by a team of senior electrical, computer, civil, and/or mechanical engineering students. 

· Exposure to a team of engineering students with working knowledge of your business and products. 

· Opportunity to “give back” by mentoring students on a real-world problem. 

General details about the program can be found in the Senior Design Overview. Examples of past projects can be found in the 2023 Design Show Guide 

Project fees are $4,000 for corporate projects and $2,000 for startups. The team will use this as the budget for purchasing equipment and materials for prototype development and testing. We do not request fees for civil projects that do not involve prototyping. As always, all IP remains with the company. 

To submit a project, download the project proposal template and submit to through the email link within. 

Project proposals deadlines: 

1. April 1 for the June-Dec. session  

2. June 15 for the Sept.-May session 


Innovation Grants Close

Applications are now closed for Launch Minnesota’s Innovation Grants. Applicants will be contacted by March 29 and notified of their award status. Launch MN will begin accepting grant applications again in June.

Learn more


Regional Resource Connection Events Continue

DEED’s Office of Small Business and Innovation (OSBI) has two April stops remaining on their statewide tour to help entrepreneurs and small businesses understand the resources available to support their start and growth.

We are bringing together Launch Minnesota partners, grant recipients and Small Business Development Centers (SBDCs) to celebrate innovation across the state by providing a platform for businesses to learn about local, regional and statewide organizations and resources. 

Northeast - April 2

Clyde Iron Works

2920 W Michigan St, Duluth, MN 55806

3pm

5pm

Southwest -
April 9

Pioneer Bank Mankato

1450 Adams St, Mankato, MN 56001

3pm

5pm


Launch MN's next Friday Forum will be on crowdfunding on January 26

Friday Forum: Exploring Venture Capital - March 22nd

Launch Minnesota’s Friday Forums are an opportunity to discuss topics and share resources in Minnesota’s startup community. This month’s topic is early-stage venture capital. Join us to learn more about how early-stage VC's support the ecosystem and how to best work with them in building your business. 

Join with this link. Passcode: 2022


Upcoming Events

March 28 -  Ignite Cup, organized by Red Wing Ignite 

Find more events on Launch MN's Statewide Startup and Small Business Calendar.


Resources for Entrepreneurs: