Incubator from University of Minnesota and Launch Minnesota announces first class

The University of Minnesota is opening its Discovery Launchpad incubator to outside startups with a new, similarly-named incubator called Discovery Launchpad MN.

The incubator, which is launching with a class of give startups, is operated by the University of Minnesota's Technology Commercialization Venture Center and is funded by the state's Launch Minnesota program. The accelerator is open to any startup that has received an Innovation Grant from Launch Minnesota.

It's an expansion of the U's existing Discovery Launchpad incubator, which helps develop startups that were founded using technology developed at the university.

"We are pleased to extend the Discovery Launchpad model, which has helped many UMN startups, to high-potential startups from across the state—and in doing so, contribute directly to Minnesota’s startup ecosystem," said Russ Straate, the associate director of the university's Venture Center.

The incubator, like the Launch Minnesota program, has an eye towards entrepreneurs of color, women-led startups and entrepreneurs from outside the Twin Cities metro area. Two of the startups selected for the incubator are owned by people of color, while two are women-owned.

The program runs about two months and prepares startups to raise venture capital and enter into accelerator programs.

Future funding for the Launch Minnesota program is currently in doubt. While it's funded through 2021, its funding for 2022 and 2023 is currently being debated by the state legislature.

The five companies are:

The incubator will begin recruiting its next class of startups in mid-May.