Examples include R&D-related wages, supplies and research contracted outside your business. Contributions to qualified nonprofit organizations that make grants to early-stage technology businesses in Minnesota also may qualify.
Minnesota's Angel Tax Credit 651-259-7599 | angel.credit@state.mn.us
The Angel Tax Credit (Small Business Investment Tax Credit, Minn. Stat. § 116J.8737) is intended to encourage equity investment in early stage, technology-based business and encourage job creation by providing tax incentives to investors making investments in start-up companies. The credit encourages start-ups that are focused on developing high technology, using new proprietary technology, or developing a proprietary product, process or service in a limited number of fields. A comprehensive discussion of the structure and operation of the Angel Tax Credit is provided in the free publication, Minnesota's Angel Tax Credit . This publication is available on the DEED website at Minnesota's Angel Tax Credit.
Launch Minnesota 651-328-3124 | launchminnesota@state.mn.us
Launch Minnesota is a statewide collaborative effort to accelerate the growth of startups and amplify Minnesota as a national leader in innovation. The resources will focus on innovative scalable startups. Visit mn.gov/launchmn to learn more and see a list of grant recipients.
Launch Minnesota Grants Innovation Grants
The Innovation Grant reimburses business expenses, incurred in Minnesota, for research and development, direct business expenses (including wages of employees, but not salaries or wages of 20 percent or more owners of the business or their family members), and the purchase of technical assistance and services. Qualifying businesses may receive grants up to $35,000, which are disbursed on a 2:1 reimbursement basis (grantee spends $2, then gets reimbursed $1). Eligibility Criteria • Primary business activity is in innovative technology or in an innovative business model or product • Business operations and headquarters are located in Minnesota • Business has not been in operation for more than 10 years • Business has raised less than $1 million in equity financing • Business has not previously received a Launch Minnesota Innovation Grant
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