Launch Minnesota Awards nearly $750,000 in Innovation Grants for FY 2021
December 3, 2020
St. Paul – The Minnesota Department of Employment and Economic Development (DEED) today announced that it has awarded $746,295 in the first half of fiscal year 2021; this follows the $1.6 million awarded in the first year of funding.
Since July, we awarded 28 grants to 23 companies and seven entrepreneurs, of which 14 were target minority, veteran or woman-owned or located in Greater Minnesota.
Launch Minnesota Innovation Grants are targeted to the most promising innovative and scalable technology businesses in Minnesota. The grants help reduce the risk for Minnesota technology startups and entrepreneurs who are solving problems and growing our state’s innovation ecosystem.
“The success of our innovation ecosystem depends on our technology startup growth, and we look forward to providing more resources and support to entrepreneurs and small businesses,” said DEED Deputy Commissioner of Economic Development Kevin McKinnon.