DEED Awards $376,000 to 15 Startups
The Minnesota Department of Employment and Economic Development (DEED) announced awarding Launch Minnesota Innovation Grants totaling $376,075 to 15 startup companies.
The latest awards mean that the total $3.2 million slated for the innovation grants for state fiscal years 2020 and 2021 has now been allocated. All told DEED made 140 grants to 104 startups totaling $3.2 million. Some of the companies received more than one grant; additional grants went to some companies for housing and child care
Among all of the grants issued, 60 percent went to startups in targeted categories: BIPOC-owned, woman-owned and businesses in Greater Minnesota.
Interest in DEED’s innovation grants has been strong. The agency received 365 applications requesting more than $11 million in funds.
“Those who’ve received grants tell us that this funding makes a big difference in creating opportunities to grow their businesses and in leveling the playing field,” said Launch Minnesota Executive Director Neela Mollgaard in a statement. “Demand for these grants has far exceeded available funding, and in fact this latest round of grants means our program has fully disbursed its funding with months still to go in our fiscal year.”
The latest companies to receive the Launch Minnesota Innovation Grants are:
- Alcaris Medical, St. Paul : Providing physiologic markers to psychotherapists to guide PTSD treatment
- ArteMedics, St. Paul : Adapting medical device technology for veterinary community
- Brevity, Minneapolis : Developing a platform for seed funders to connect with startup businesses
- Kinetic, Minneapolis : Developing a social network with hand-curated introductions, making “who you know” equitable
- MK1 Engineering, Sauk Rapids: Using seed orientation planter technology
- Oncodea, St. Paul : Developing a multi-cancer diagnostic system for early cancer detection using blood biopsies
- Peach Mindfulness, St. Paul : Developing technology-enabled meditation and mindfulness practices using a coaching relationship through a conversational virtual assistant
- ProsperStack, Minneapolis: Developing tools for implementing automated retention strategies to reduce subscription churn
- See A Star Labs, Minneapolis : Marketing its SAAS platform for live 2-way communications for businesses, digital sports
- Simply Paws Design, St. Paul : Making eco-friendly cat litter
- TearRestore, New Brighton : Offering an at-home device that replaces in-office treatment for people with dry eye
- Vessyll, Twin Cities : Developing an energy storage device for large power delivery to customers with unreliable supply
- VisionX, Edina : Developing a dental device to capture anatomic measurements of a patient’s mandible
- ViruTech Systems Inc., Minneapolis : Developing a diagnostic device to instantaneously detect the Sars-2 virus using millimeter wave technology and advances in signal processing
- XDot Medical, Maple Grove : Developing an X-cinch access system for catheter-based therapies