South Hennepin News

The Minnesota Department of Employment and Economic Development (DEED) awarded $746,295 in grants for the first half of fiscal year 2021, according to a press release.

Since fiscal year 2021 began in July, 28 grants have been awarded to 23 companies through the Launch Minnesota Innovation Grant initiative. Fourteen of these companies are minority, veteran or woman-owned. 

“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.

Launch Minnesota Executive Director Neela Mollgaard said investment in startups is vital to the growth of the economy.

“Launch Minnesota has just rounded its first year, and we are pleased with the progress and the ability for Launch Minnesota to put capital in the hands of startups,” Mollgaard said.

Created in 2019, Launch Minnesota has awarded nearly $2.4 million in Innovation Grants to 77 startups statewide. Innovation Grants are targeted for promising and innovative Minnesota technology startups and entrepreneurs who are solving problems and advancing the state’s innovation ecosystem.

Visitors can find a full list of Innovation Grants on the Launch Minnesota website Innovation Grants page.