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Budget for One Minnesota: Minnesota Innovation Collaborative

5 Apr 2019


States and cities that create attractive environments for startups, entrepreneurs, and innovative talent are quickly distancing their economies from those who do not. For every one job created in the innovation sector, five more jobs are created in adjacent sectors – the strongest network effect in job growth today. Minnesota must put our economy on the cutting edge of this ecosystem by making strategic investments in our innovation ecosystem. 

The proposed Minnesota Innovation Collaborative (MIC) contains a series of initiatives focused on growing Minnesota’s innovation economy by accelerating the growth of our startup ecosystem and attracting top technology talent to the state. Comprised of a collection of new grant programs, a new apprenticeship program, and a physical space for outreach, education and training, the MIC will create a touchstone for the state to support and enhance the state’s visibility and interest in the innovation ecosystem. It will bring together all the key players – founders, venture capitalists, researchers, academia, businesses (including Fortune 500s), and educators – in one space. 

Ultimately, major pieces of the initiative will separate from state government as they grow. Over the biennium, staff will engage businesses, higher education, investors and communities to provide resources to match state investments to sustain and grow the locations and educational services available to entrepreneurs and startups beyond the biennium. 

The DEED Minnesota Innovation Collaborative proposal requests $5 million.

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City of Elk River Economic Development
13065 Orono Parkway | Elk River, MN  55330
phone 763.635.1000