When Colonial Church in Edina liquidated some commercial real estate this summer, senior pastor Daniel Harrell wanted to use the proceeds to “do something different and reinvest directly into the younger generation.”
They’ve since taken $250k and launched Innové, a grant-based fund that is offering cash for new startups in the Twin Cities metro. While their investment focus is anything but focused at this point, Colonial’s Minister of Missions Brian Jones says that “Mobile is clearly the future. We’re excited about it and I think we could help in this area.”
The group is accepting applications now through January 11th for business startups (from idea through launch) that are aimed at “solving a real human problem above making money.” Innové funds could be deployed in amounts as low as $10k or the full $250k, depending on the quality and quantity of demand.
“Ideas and initiatives that are designed to serve others is what we’re looking for at the core.” Jones says that the potential recipients are not judged based on their religious affiliations — or lack thereof — but says that affirmation of the Apostles’ Creed at time of application is expected.
- Under 35 (Founders/majority of team)
- Idea stage through launch
- For profit or nonprofit
- Greater Twin Cities (<100 miles)
- $10k – $250k
- 24 mentors; 100+ skills coaches
- Space (6200 Colonial Way, Edina)
After January, the team will screen plans and match with ‘navigators’ which will serve as mentors to the startup businesses; in April, final grant recipients will be notified.
“We want to bless you and help you succeed,” Jones says.