If your startup is based in Minnesota and is less than 10 years old with under $1 million in revenue you could be eligible for a grant from the new Minnesota Department of Employment and Economic Development (DEED) program that’s earmarked $2.5 million a year for local entrepreneurs.
While it’s open to Twin Cities businesses as well, Launch Minnesota was designed specifically with an eye on entrepreneurs from greater Minnesota, as well as women, veterans, and founders of color. A key goal of the program is to make the risks related to leaving a steady job to start a high technology company a little more manageable for entrepreneurs through grants for up to:
- $35,000 for business expenses to help with capital constraints
- $7,500 for childcare or housing costs
- $50,000 for Small Business Innovation Research or Technology Transfer