The investments will assist in the growth of startups by providing business owners money and expertise.
The University of Minnesota and the Minnesota Department of Employment and Economic Development (DEED) announced Nov. 16 they are partnering to invest $34.5 million in startup businesses.
During a press conference at the University’s Health Sciences Education Center, University and state officials announced the Minnesota State Small Business Credit Initiative’s (SSBCI) Direct Investment and Multi-Fund Venture Capital Programs, which will support up-and-coming Minnesota businesses with venture capital funding.
The new program comes after the state announced last month that small businesses across the state will receive $100 million as part of the federal American Rescue Plan Act, which has provided economic relief to individuals and businesses to offset economic impacts of the…
