The Minnesota Innovation Collaborative (MIC) is one of the most exciting items in this year’s budget. It is a program under the Department of Employment and Economic Development (DEED), led by former Google/YouTube exec and Silicon Valley boomerang, Commissioner Steve Grove.
The program calls for $4.5M in 2020 and 2021 to grow the startup and innovation ecosystem, which is a critical part of our economic future. The MIC funding will support incentives, education, and outreach. Specific provisions include a MIC office where classes will be held and outreach will be headquartered, $5-50k grants for early-stage startups, and grants for organizations around the state that can provide training and outreach to greater Minnesota. Below is the executive summary of the program.
We fully support this initiative and encourage you to reach out to your state representatives and encourage them to support funding this program. Click on this link to find your state representative’s email and send them a quick note: “I support the Minnesota Innovation Collaborative!”