The Minnesota Department of Employment and Economic Development announced Friday that it awarded $247,000 in Innovation Grants to 11 Twin Cities technology startups.
This is the third round of Innovation Grants distributed by DEED through Launch Minnesota, a joint initiative between private businesses and nonprofit organizations. Launch MN provides financial incentives, training and grants to people starting businesses in technology sectors like aerospace, agriculture, nanotechnology and medical devices.
In the third round, 12 grants were awarded to 11 different companies: eight grants for business operations and four housing/childcare grants.
The organization previously awarded around $344,000 in Innovation Grant funding to 13 startups in March, and $670,000 to 20 companies the month before. Two companies, Anatomi Corp. and Better Time Company, have now received two Innovation Grants each.
Launch MN has now given more than $1.2 million to Minnesota startups, with an additional $1.2 million being matched by private sources.
Innovation Grant applications will continue to be reviewed on a rolling basis until the $1.6 million in fiscal year 2020 is fully awarded. Another $1.6 million in funding will be available for fiscal year 2021.
"At this unprecedented time, it's never been more important to foster and grow a startup community that will build solutions to help us meet challenges we face moving forward," DEED Deputy Commissioner of Economic Development Kevin McKinnon said in a statement. "While we work to address the immediate needs driven by the COVID-19 pandemic, it's important to continue to nurture the innovative businesses of the future."
Here are the 11 startups that received Launch MN Innovation Grants, with descriptions provided by DEED.
Anatomi Corp., Minneapolis Creating advanced models of neurological diseases for developing new treatments.
Berd LLC, St. Louis Park Producing hybrid metal and polymer materials with their first product being lightest weight bicycle spokes.
Better Time Company, St. Paul Developing a digital coach to help people make better health and wellness decisions.
Geneticure, Inc., Rochester Delivering personalized medicine via pharmacogenomics.
InControl Health, Minneapolis Developing a cooling hat for chemo patients to prevent hair loss.
Odonata Health, Stillwater Developing a wearable sensor platform technology to acquire maternal and fetal biometric data.
Radwave Technologies, St. Paul Developing a surgical platform for minimally invasive medical procedures.
Tychon Biosciences, Minneapolis Commercializing an immune-therapy technology for cancer patients.
Vemos, Minneapolis Providing an analytics and mobile payments system serving the hospitality industry.
We Sparkle, St. Paul Developing a conversational AI assistant for small appointment-based service businesses.
Yonder, Coon Rapids Developing an education platform to prepare kids for dental visits.
