Minnesota Hands Out $673K to 25 Tech Startups
The Minnesota Department of Employment and Economic Development (DEED) on Tuesday announced it has awarded $673,500 in Launch Minnesota Innovation grants to 25 startups in the state.
The grants are targeted at the “most promising innovative and scalable technology businesses in Minnesota;” they’re designed to help reduce the risk for tech startups and entrepreneurs working to solve some of the most pressing issues of the day.
“Providing resources and support for technology startups is important to help our state’s economy as these companies grow,” said DEED deputy commissioner Kevin McKinnon in a news release. “It’s even more important now as we look to help businesses during the pandemic recovery.”
Startups were required to submit applications for the grants. An internal committee and the Launch Minnesota board evaluated each one. The 25 startups were selected from over 40 total applicants. Eighteen of the startups are minority-, veteran- or women-owned businesses, or are located in greater Minnesota.
The maximum grant awarded was $35,000, with exact award dollars based on a sliding scale, said DEED spokesperson Jen Gates. To help “level the playing field,” the state gives more weight to applications from women, BIPOC, or veteran founders, as well as any founders in greater Minnesota.
On top of the grants, the awardees are referred to resources across the state. They’re also required to provide a six-month progress report and a final report after the grants have been fully distributed.
The Minnesota Legislature allocated $1.5 million for the program in fiscal years 2022 and 2023. DEED still has $826,500 to distribute for the current fiscal year that ends June 2022.
So far, the Launch Minnesota program has given $3.2 million through the program.
The 25 startups receiving state funding in this round were:
2040 Energy (Hennepin County)
Developing a clean energy heat pump to replace traditional radiators that run on gas or oil.
Allergy Medical (Ramsey County)
Developing a more accessible double-dosing epinephrine delivery device for severe allergy situations.
Ambient Intelligence, Inc. (Hennepin County)
Developing a contactless patient monitoring technology for diverse healthcare environments.
Beatrice Health, LLC. (Ramsey County)
Developing an app to be used by caregivers to monitor and locate patients with Alzheimer’s.
Biovisics Medical, Inc. (Wright County)
Developing a home-use digital therapy platform to prevent the progression of retinal diseases.
Canomiks, Inc. (Olmsted County)
Developing an AI-based platform to help regulate and certify safety for the food, beverage, and dietary supplement industry.
Fybraworks Foods (Ramsey County)
Developing a process to grow hormone- and antibiotics-free animal meat proteins.
Hello Temp Inc. (Hennepin County)
Developing a platform designed to help small to mid-sized companies to compete for talent with Fortune 500s.
ImagoAI Inc. (Ramsey County)
Developing an AI-enabled imaging system that performs food quality checks for food processing companies.
IntelliU LLC. (Carver County)
Developing AI-driven software that helps medtech firms reduce product risks.
Kronfeld Motor Company (Hennepin County)
Developing a pedal-electric powered vehicle designed to reduce carbon footprint.
LegalQ, Inc. (Hennepin County)
Developing an app that connects legal consumers with attorneys to provide legal advice and consultations.
LifEngine Animal Health Laboratories Inc. (Olmsted County)
Devloping gene editing technology for use as a cancer therapy in animals.
Monicat Data (Ramsey County)
Developing a platform that aimed at simplifying business reporting by connecting multiple data platforms.
NETZBRO, SBC (Hennepin County)
Developing a platform that upcycles industrial food and beverage products into new and sustainable food ingredients.
Nucleic Sensing Systems, LLC. (Ramsey County)
Developing technology for the “autonomous detection and verification of biological organisms”.
Proserva Inc. (Hennepin County)
Developing a platform that provides remote professional learning for teachers.
Radwave Technologies, Inc. (Ramsey County)
Developing technology for use in minimally invasive and robotic surgeries.
Renew Power Systems, Inc. (Hennepin County)
Technology that allows local communities to stack renewable energy systems for storage and usage.
Runerra Technologies, Inc. (Hennepin County)
Developing a platform that connects merchants with local neighborhoods.
SitEat, Inc. (Hennepin County)
Developing a mobile ordering platform for ordering concessions while patrons are in the venue.
UnPub Global (Hennepin County)
Developing an online program to transfer educational content to digital resources.
UR TURN, SBC, (Hennepin County)
Developing a college and career readiness software for middle and high school students.
xDot Medical, Inc. (Hennepin County)
Developing a management system to reduce bleeding complications during catheter-based therapies.
Your Path, LLC. (Mille Lacs County)
Developing technology that connects people to virtual behavioral healthcare for substance-related issues.