Financial Awards Give Small Businesses Access to Technical Assistance
8/15/2018 12:00:00 PM
The Innovation Voucher Award Program provides $5,000 to $25,000 awards to help small businesses purchase technical assistance and services necessary to advance research, development or commercialization of new or innovative products and services.
Qualifying businesses receive awards – which the recipient must match on a 50 percent basis – to reimburse for expenses incurred for assistance and services rendered by public universities, colleges, technical schools and non-profits in Minnesota. Reimbursable expenses include purchased technical assistance and services in research, technical development, product development, commercialization, market development, technology exploration, and improved business practices, including strategies to grow business and create operational efficiencies.
Expenses not directly related to the development and commercialization of new and innovative products and services are not eligible for reimbursement.
Projects must be completed within 18 months of the grant award. Reimbursements are made when the project is complete and the business submits a Project Completion Form and a Reimbursement Payment Request to DEED.
For information on applying for a grant and finding a service provider, go to the DEED website or contact Sarah Miller at 651-259-7434.