Launch Minnesota Awards over $376,000 in Innovation Grants to Startups
1 Apr 2021
St. Paul – The Minnesota Department of Employment and Economic Development (DEED) announced that it has awarded $376,075 in Launch Minnesota Innovation Grants to startup businesses. With these awards, the full $3.2 million in biennium funding for fiscal years 2020 and 2021 has now been allocated.
In this latest round, DEED awarded innovation grants to 15 startups. Of those, nine are targeted businesses, which include BIPOC-owned (Black, Indigenous, People of Color), woman-owned, and businesses located in Greater Minnesota.
Grants are awarded through a competitive application process to the most promising innovative and scalable technology businesses in Minnesota. Since Launch Minnesota’s creation in 2019, it has awarded 140 grants totaling $3.2 million to 104 startups statewide – 60% of which have been in targeted categories.