This is for informational purposes only. For business advice or investment decisions, consult with a professional.
Minnesota Business Grants
Minnesota offers a variety of grants to support businesses of all sizes and industries. Here are some of the most notable programs:
Minnesota Department of Employment and Economic Development (DEED) Grants
Two Northern Minnesota Businesses receive Expansion Grants
DEED offers a range of grant programs to support business growth, innovation, and job creation. Some of the key programs include:
Launch MN Innovation Grants: These grants provide funding to innovative and scalable technology startup businesses in Minnesota. There are two types of grants available: Business Operations Grants (up to $35,000) and Matching SBIR/STTR Phase 1 and 2 Grants (up to $50,000).
Emerging Entrepreneur Loan Program: This program provides loans to businesses that are owned and operated by minorities, low-income persons, women, veterans, and/or persons with disabilities. DEED provides funding to certified non-profit lenders who make loans ranging from $5,000 to $150,000.
Angel Tax Credit: This program provides a 25% tax credit to investors or investment funds that make equity investments in startup companies focused on high technology, new proprietary technology, or a new proprietary product, process or service in specified fields.
DEED announces $. million in small business grants; over
Other State and Federal Grants
In addition to DEED grants, there are other state and federal grant programs available to Minnesota businesses. These include:
Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) Programs: These federal programs provide funding to small businesses engaged in research and development.
Minnesota Initiative Funds: These regional funds provide grants and loans to businesses in Greater Minnesota.
Local Government Grants: Many cities and counties in Minnesota offer their own grant programs to support local businesses.
Tips for Applying for Business Grants
Applying for business grants can be a competitive process. Here are some tips to increase your chances of success:
Do your research: Make sure you understand the eligibility requirements for each grant program before you apply.
Develop a strong proposal: Your proposal should clearly articulate your business idea, your financial needs, and how the grant funds will be used.
Get help: There are many organizations that can provide assistance with grant writing and the application process.
Additional Resources
Minnesota Department of Employment and Economic Development (DEED): [https://mn.gov/deed/](https://mn.gov/deed/)
