SF 3409

as introduced - 84th Legislature (2005 - 2006) Posted on 12/15/2009 12:00am

A bill for an act
relating to economic development; establishing the Office of Entrepreneurship;
appropriating money; proposing coding for new law in Minnesota Statutes,
chapter 116J.

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:

Section 1.

new text begin [116J.8743] OFFICE OF ENTREPRENEURSHIP.
new text end

new text begin The Office of Entrepreneurship is established in the Department of Employment and
Economic Development. The objective of the Office of Entrepreneurship is to develop
and implement strategies to foster entrepreneurial activity. In furtherance of this objective,
the Office of Entrepreneurship shall do the following:
new text end

new text begin (1) measure and report to the governor and the legislature, by no later than March 1
of odd-numbered years, on the status of entrepreneurial activity in Minnesota, including
small business formation, survival, and growth;
new text end

new text begin (2) form an entrepreneurial advisory board with public and private representatives
to make recommendations on strategies and programs and to develop specific goals for
statewide entrepreneurial outcomes;
new text end

new text begin (3) identify barriers to entrepreneurial development and conduct an inventory
assessment of existing entrepreneurial resources in order to develop a one-stop information
and referral service that is responsive to the needs of the entrepreneurial community;
new text end

new text begin (4) advance alternatives for the promotion of private capital to provide better access
to early stage funding for small businesses;
new text end

new text begin (5) work with secondary and higher education institutions, businesses, nonprofit
organizations, and state and federal agencies to provide education, training, and technical
assistance which increase entrepreneurial literacy, skills, and experiences; and
new text end

new text begin (6) coordinate the state's direct services of small business assistance and the small
business development center network.
new text end

new text begin Members of the advisory board may include representatives from: higher education
institutions, small business development centers, small business incubators, nonprofit
organizations, economic development authorities, commercial banks and other lending
institutions, and state and federal agencies.
new text end

Sec. 2. new text begin APPROPRIATION; OFFICE OF ENTREPRENEURSHIP.
new text end

new text begin $....... is appropriated from the general fund to the Department of Employment and
Economic Development for purposes of the Office of Entrepreneurship created under
section 1.
new text end