The Bold Path Fellowship is a new program designed to help Twin Cities entrepreneurs get their businesses off the ground.

As many as five Twin Cities residents will each receive $120,000 over two years, which allows people with limited financial resources to found companies.

A Dec. 5 deadline is approaching to apply for the fellowships. The effort is funded by the ECMC Group Education Impact Fund and the ECMC Foundation. The ECMC Group is headquartered in Minneapolis. People who want to learn more about the fellowship can find information at boldpathfellowship.org.

To be considered for a six-figure fellowship, an applicant must have completed a degree or credential—four-year college, community college, or vocational program—within the last five years. People on schedule to graduate in the spring of 2026 also are eligible to apply for a fellowship.

Applicants must be “residents of the greater Twin Cities area and launch their venture in the greater Minneapolis-St. Paul area,” according to a news release announcing the program.

The Bold Path Fellowship program was begun last year in Birmingham, Alabama, and has been expanded to include two additional metro areas—the Twin Cities and Raleigh-Durham, North Carolina. ECMC Group indicated it wants to “provide entrepreneurial onramps for under-resourced” individuals.

“Entrepreneurship is a growing postsecondary pathway for recent graduates that can lead to career and financial success; however, segments of our population are unable to explore that opportunity due to a lack of access to the resources that they need to support early-stage business development,” Joe Watt, managing director for the Education Impact Fund, said in a news release.

“We are expanding the Bold Path Fellowship in the Twin Cities metro area to help break those barriers while also focusing on up-and-coming entrepreneurial ecosystems,” Watt said.

ECMC Group specified that the fellows will “receive $120,000 in non-dilutive grant funding over two years” and that this money is intended to “serve as early family and friends funding, which is often unavailable for low-income founders and is critical to get their businesses off the ground.” Those chosen as fellows also will receive advice and guidance from mentors who live in the Twin Cities area.

ConnectUP! Institute, a nonprofit based in St. Paul, is serving as a key strategic partner for the fellowship program by helping to connect Twin Cities-area postsecondary institutions, supporting organizations, and community members.

“We’re absolutely thrilled to team up with the Bold Path Fellowship to give a real boost to founders with big ideas but limited resources,” Y. Elaine Rasmussen, CEO of ConnectUP! Institute, said in a written statement. “Let’s be honest, time and money are tough for everyone. But it’s even harder for ‘underestimated’ founders—the ones juggling jobs while chasing their dreams. Our program will teach founders all the crucial fundamentals of finance, marketing, and operations. When they leave our accelerators, they won’t just have a super solid business foundation, but also the confidence and know-how to really hit the ground running and keep growing.”

The first cohort of fellows came from the Birmingham, Alabama, area. They are (pictured above, from left) Myles Taylor, Stephanie Stewart, Kym’Bria Green, and Jevon Tatum. Information about their business ideas can be found here.

“This program not only champions the potential of the entrepreneurs but also gives back to the community to foster economic growth in the surrounding area,” Jessica Haselton, managing director at ECMC Foundation, said in a written statement. “While there are existing national programs that support founders, we believe there is power in a local approach.”