as introduced - 93rd Legislature (2023 - 2024) Posted on 03/20/2023 04:52pm
Engrossments | ||
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Introduction | Posted on 03/06/2023 |
A bill for an act
relating to economic development; appropriating money for a grant to MNSBIR,
Inc., to secure federal research and development funding.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:
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(a) $5,000,000 in fiscal year 2024 is appropriated from the general fund to the
commissioner of employment and economic development for a grant to MNSBIR, Inc., to
support moving scientific excellence and technological innovation from the lab to the market
for startups and small businesses by securing federal research and development funding.
The purpose of the grant is to build a strong Minnesota economy and stimulate the creation
of novel products, services, and solutions in the private sector; strengthen the role of small
business in meeting federal research and development needs; increase the commercial
application of federally supported research results; and develop and increase the Minnesota
workforce, especially by fostering and encouraging participation by small businesses owned
by women and people who are Black, Indigenous, or people of color.
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(b) MNSBIR, Inc., shall use the grant money to be the federal research and development
dedicated resource for small businesses of up to 500 employees statewide to support research
and commercialization of novel ideas, concepts, and projects into cutting-edge products
and services for worldwide economic impact. MNSBIR, Inc., shall use grant funds to:
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(1) assist small businesses in securing federal research and development funding,
including the Small Business Innovation Research and Small Business Technology Transfer
programs and other federal research and development funding opportunities;
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(2) support technology transfer and commercialization from the University of Minnesota,
Mayo Clinic, and federal laboratories;
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(3) partner with large businesses;
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(4) conduct statewide outreach, education, and training on federal rules, regulations, and
requirements;
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(5) assist with scientific and technical writing;
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(6) help manage federal grants and contracts; and
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(7) support cost accounting and sole-source procurement opportunities.
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