Your big ideas can solve the next generation’s problems today.
Minnesota is a phenomenal place to launch your business. We can make it possible for companies to grow right here in Minnesota and not feel they have to go elsewhere - and we want to promote innovative jobs and our innovation ecosystem in a coordinated way.
Our state government has lots of programs to help businesses in any industry get off the ground. Many of our largest companies are partners in accelerators and other startup programs. For example, Cargill and Ecolab support Techstars Farm to Fork accelerator, and Allianz and Securian Financial partner with gener8tor in OnRamp Insurance accelerator.
Resources for Technology Startups
- Launch Minnesota's program and network help high-tech startups by providing access to capital, talent and a connected statewide startup ecosystem through innovation grants and a broad range of other assistance.
- Innovation Grants target the most promising, innovative businesses and technologies in Minnesota. These grants can be used to reimburse business expenses like research and development or technical assistance services.
- Minnesota Small Business Innovation Research and Small Business Technology Transfer Matching Grants deliver technical assistance and funding to Minnesota firms so they can access federal investments.
- State Small Business Credit Initiative was part of the American Rescue Act (ARPA) of 2021 and included $10 billion for state, territory and tribal business finance programs. Minnesota is expected to receive at least $75 million for state small business financing support.
- Angel Tax Credit provides a 25% 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.
- MNvest is a Minnesota law permitting investment crowdfunding, a new way to fund Minnesota's growing businesses. Similar to reward-based crowdfunding sites (like Kickstarter), MNvest enables Minnesota businesses to legally advertise investment opportunities to all Minnesota residents.
- Emerging Entrepreneur Loan Program provides loans to businesses owned and operated by Black, Indigenous and people of color, low-income persons, women, veterans and/or persons with disabilities. DEED provides grant funds to a network of nonprofit lenders that use these funds for loans to startups and expanding businesses throughout the state.
- MN Reservist and Veteran Business Loan Program provides interest-free loans of up to $20,000 to businesses adversely affected when certain employees are called to active military duty and to individual veterans who have returned from active duty and want to start their own business.
- Indian Business Loan Program supports the development of native-owned and operated businesses and promotes economic opportunities for native people in Minnesota. Loans may be up to 75 percent of project costs and feature favorable interest rates and repayment terms.
- STEP grants (50% matching up to $7,500) support a range of export development activities, including participation in virtual and in-person trade shows and missions.
Ongoing Technical Assistance for Small Businesses
Learn about all of Minnesota's Economic Development Programs and Services in our Resource Guide.