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Minnesota Economic Development Group Chosen for Small Business Grant

July 24, 2014

Madeline Koch, 651-259-7236
Madeline.Koch@state.mn.us

Robert Reese, 612-259-6581
rreese@meda.net


ST. PAUL –
The
Metropolitan Economic Development Association ( Meda) has been awarded a $90,909 grant from the U.S. Small Business Administration that will help small technologies and science firms bring their innovations to the marketplace and stimulate science and technology jobs. Meda was one of only 22 economic development agencies, business development centers, colleges and universities that received the awards totaling $2 million.

"Innovation drives long-term economic growth and success,” said Jan Jordet, Meda interim president and CEO. “We will once again have the resources within our state to assist small businesses with innovative ideas pursue grants from federal programs.”

The funding will be used to
establish a program at Meda that will provide guidance and professional expertise to help tech-driven small businesses locate federal funding and government contracts. The Minnesota Department of Employment and Economic Development (DEED) is providing funds as well.

"The grant will help Minnesota become more competitive in science and technology and shape our future in today’s ever-changing global economy,” said DEED Commissioner Katie Clark Sieben.

All small technologies and science firms across the state will qualify for assistance, which will include education and training, counseling, mentoring and federal contracting.

Program advisers will focus on helping tech-driven small businesses compete successfully for funding from the federal Small Business Innovation Research and Small Business Technology Transfer (STTR) programs, which are designed to support scientific excellence and technological innovation. The STTR program focuses on partnerships between small businesses and universities and nonprofit research institutions.

The program at Meda will be available to serve all small-tech firms in the state. Services may be offered Oct. 1, but no official date has been announced.

For more information, contact
Robert Reese, Meda director of fund development and community relations at 612-259-6581 or rreese@meda.net .

Meda provides assistance to businesses owned and managed by entrepreneurs of color. Meda offers one-on-one business consulting, training, leadership development, government contracting assistance, access to financing, networking with peers, and assistance with minority certifications, strategic planning and more.

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 our services, visit us at http://mn.gov/deed/ . Follow us on Twitter at twitter.com/mndeed .

 

 

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Upon request, this information can be made available in alternate formats for people with disabilities by contacting the DEED Communications Office at 651-259-7161.