Launch Minnesota announced this week that it awarded grants to six organizations that will create regional hubs to establish a network that will advance Minnesota's startup ecosystem.
The seven selected organizations, along with nearly 60 program partners, will form the Launch Minnesota Network to help Minnesota-based high-tech startups take their businesses from concept to launch.
"The Launch Minnesota Network will empower and connect entrepreneurs across Minnesota to help get their companies off the ground," Executive Director Neela Mollgaard said in a statement. "Working together, we can make Minnesota's innovation economy a national leader."
The state will have a regional hub for each section of Minnesota, with grant-funded organizations leading each of the regional hubs, which consist of local program partners. These hubs are:
- Northwest Minnesota: Greater Bemidji LaunchPad
- Southeast Minnesota: Red Wing Ignite
- Southwest Minnesota: Mankato State University
- Twin Cities: Forge North and MEDA
- West Central Minnesota: St. Cloud Development Corporation
- Northeast Minnesota leaders have been working on their plan, and Launch expects organizations who want to lead the regional hub will apply during the next grant round.
The University of Minnesota will also serve as a statewide partner in the program, providing online courses on the lean startup model, plus working with Launch for events and providing mentoring opportunities for entrepreneurs.
Each of the chosen organizations received grant funding ranging from $50,000 to $75,000. All grants require at least a one-to-one match and have already leveraged a total of close to $900,000 in private dollars. They will use these funds to provide a variety of resources to entrepreneurs, including programming, education and workspace.
The Launch Network will also collect data to better understand the needs of businesses in Minnesota, and share best practices between regions.
Launch, an initiative from the Minnesota Department of Employment and Economic Development, was established last year. The program is designed to foster innovation across the state with a special focus on businesses located outside the Twin Cities.
The organization grew out of a collaboration between DEED and the Minnesota Legislature. It is a joint initiative with private businesses and nonprofit organizations statewide that provides financial incentives, training and grants to people starting businesses in technology sectors like aerospace, agriculture, nanotechnology and medical devices.
In January, Launch awarded more than $672,000 in innovation grants to 20 technology startups from around the state.
