DEED awards funding to assist emerging businesses
The Minnesota Department of Employment and Economic Development (DEED) awarded two-year grants totaling $2.8 million to 11 nonprofit groups that provide services and technical assistance to emerging businesses and entrepreneurs in Minnesota.
One of the awards went to Central Lakes Community College Small Business Development Center, Brainerd, $84,000. The center provides programs and services for small businesses and entrepreneurs in the Brainerd area.
The funding, which was approved during the 2013 legislative session, goes to groups that provide business assistance to targeted groups including women, minorities, rural residents, bioscience startups, entrepreneurs and inventors. “These service providers help businesses start and survive during the early stages of their development,” said DEED Commissioner Katie Clark Sieben. “Their services and programs are good for business and good for Minnesota.” Funding was also awarded to:
• African Development Center, Minneapolis, $200,000. The group provides training, lending and technical assistance to help African immigrants and refugees achieve economic prosperity in Minnesota.
• BioBusiness Alliance of Minnesota, St. Louis Park, $450,000. The BioBusiness Alliance provides services and outreach to businesses in the life sciences.
• Metropolitan Consortium of Community Developers, Minneapolis, $190,000. The consortium is an association of community development groups that focus on housing and economic development initiatives.
• Metropolitan Economic Development Association, Minneapolis, $380,000. The group provides assistance to businesses owned and managed by entrepreneurs of color.
• Minnesota Inventors Congress, Redwood Falls, $170,000. The group offers resources for Minnesota entrepreneurs and sponsors two annual shows, the Invention and Idea Show and the Minnesota Student Inventors Congress.
• Minnesota State University Small Business Development Center, Mankato, $280,000. The center provides programs and services for small businesses and entrepreneurs in the Mankato area.
• Neighborhood Development Center, St. Paul, $340,000. The center offers small-business training and consultation in low-income neighborhoods.
• Northside Economic Opportunity Network, Minneapolis, $143,500. 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.
• Southwest State University Small Business Development Center, Marshall, $140,000. The center provides programs and services for small businesses and entrepreneurs in the Marshall area.
• WomenVenture, St. Paul, $330,000. WomenVenture helps women entrepreneurs, low-income entrepreneurs and women-owned businesses to develop and expand businesses and create jobs.