DEED Awards Funding to Groups that Help Emerging Businesses

ST. PAUL – The Minnesota Department of Employment and Economic Development (DEED) awarded two-year grants totaling $2.71 million to 16 nonprofit groups that provide services and technical assistance to emerging businesses and entrepreneurs in Minnesota.

The Business Development Competitive Grant Awards, which were approved during the 2017 legislative session, go to groups that provide business assistance to targeted groups, including women, minorities, rural residents, technology-based companies and entrepreneurs. The funding is for state fiscal years 2018 and 2019.

“These groups help small businesses, entrepreneurs and disadvantaged populations get the tools they need to succeed in the business marketplace,” said DEED Commissioner Shawntera Hardy. “That support will result in new jobs, new businesses and a healthier economy.”

The following groups were awarded funding for two years:

African Development Center, Minneapolis — $230,000

The group provides training, lending and technical assistance to help African immigrants and refugees achieve economic prosperity in Minnesota.

Central Lakes College Small Business Development Center, Brainerd — $72,000

The center provides programs and services for small businesses and entrepreneurs in the North Central region of Minnesota.

Enterprise Minnesota, Minneapolis — $150,000

The group helps Minnesota manufacturers grow profitably and serves as the voice of the Minnesota manufacturing industry.

Entrepreneur Fund, Duluth – $200,000

The group helps people in northeastern Minnesota start and grow successful, locally owned small businesses.

Greater Bemidji, Bemidji – $130,000

The group serves the greater Bemidji region of north-central Minnesota through programs and services that drive development and promote prosperity in the region.

Hmong American Partnership, St. Paul – $76,000

The group provides training, lending and technical assistance to help the Hmong community and entrepreneurs achieve economic prosperity in Minnesota.

Leech Lake Financial Services, Cass Lake –$100,000

This group will assist entrepreneurs to establish and grow new business on the Leech Lake Reservation.

Metropolitan Consortium of Community Developers, Minneapolis – $320,000

The consortium is an association of community development groups that focus on housing and economic development initiatives.

Metropolitan Economic Development Association, Minneapolis – $150,000

The group provides assistance to businesses owned and managed by entrepreneurs of color.

Minnesota High-Tech Association, Minneapolis – $100,000

The group assists seed, early stage, emerging and existing firms (one to 500 employees) to successfully access non-dilutive federal funding through the Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) programs.

Northside Economic Opportunity Network, Minneapolis – $210,000

The goal of this group is to expand economic opportunities and build wealth for north Minneapolis residents through the creation, growth and development of small businesses.

Red Lake Band of the Chippewa Indians Entrepreneur Development Program, Red Lake – $70,000

This group will help entrepreneurs to establish and grow new business in the Red Lake Nation.

Southern Minnesota Initiative, Owatonna – $160,000

The group serves 20 counties of southern Minnesota through programs and services that foster economic and community vitality.

Southwest State University Small Business Development Center, Marshall –$172,000

The center provides programs and services for small businesses and entrepreneurs in the Marshall area.

University of Minnesota Duluth Center for Economic Development – $200,000

The center provides programs and services for small businesses and entrepreneurs in the Arrowhead region of northeastern Minnesota.

WomenVenture, St. Paul – $370,000

WomenVenture helps women entrepreneurs, low-income entrepreneurs and women-owned businesses to develop and expand businesses and create jobs.

DEED is the state’s principal economic development agency, promoting business recruitment, expansion and retention, workforce development, international trade and community development. For more details about the agency and its services, visit the DEED website or follow DEED on Twitter.