SF 2632

as introduced - 93rd Legislature (2023 - 2024) Posted on 06/21/2023 09:14am

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:

Section 1. new text begin APPROPRIATION; GRANT TO SECURE FEDERAL RESEARCH AND
DEVELOPMENT FUNDING.
new text end

new text begin (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.
new text end

new text begin (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:
new text end

new text begin (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;
new text end

new text begin (2) support technology transfer and commercialization from the University of Minnesota,
Mayo Clinic, and federal laboratories;
new text end

new text begin (3) partner with large businesses;
new text end

new text begin (4) conduct statewide outreach, education, and training on federal rules, regulations, and
requirements;
new text end

new text begin (5) assist with scientific and technical writing;
new text end

new text begin (6) help manage federal grants and contracts; and
new text end

new text begin (7) support cost accounting and sole-source procurement opportunities.
new text end