HF2920

HF2920 (Legislative Session 94 (2025-2026))

MNSBIR grant funding provided, and money appropriated.

Related bill: SF2427

AI Generated Summary

Purpose of the Bill

The purpose of this bill is to allocate funds to support small businesses and startups in Minnesota by helping them secure federal research and development funding. The goal is to promote innovation and enhance the state's economic development.

Main Provisions

Appropriation of Funds: The bill proposes an appropriation of $5,000,000 from the general fund for fiscal year 2026. This money is designated for a grant to MNSBIR Inc.
Use of Funds: The grant aims to:
1. Move scientific and technological innovations from research labs to the market.
2. Strengthen the involvement of small businesses and startups in federal research and development projects.
3. Enhance the commercial application of federally funded research findings.
4. Develop Minnesota's workforce by encouraging participation from small businesses owned by individuals from Black, Indigenous, People of Color (BIPOC), and women.
MNSBIR Inc.'s Role: With the grant money, MNSBIR Inc. will:
1. Assist startups and small businesses in applying for federal research funding, including programs like the Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR).
2. Facilitate technology transfer from prominent institutions like the University of Minnesota and Mayo Clinic.
3. Collaborate with national corporate venture groups and large businesses.
4. Conduct statewide education and training regarding federal research rules and processes.
5. Provide help with scientific and technical writing.
6. Assist in the management of federal grants and contracts.
7. Support cost accounting and federal sole-source procurement opportunities.

Significant Changes to Existing Law

The bill introduces a new grant allocation specifically for MNSBIR Inc., establishing a significant funding boost to aid small businesses in securing federal funds for research and development.

Relevant Terms

Economic development
Small business
Startups
Innovation
Federal research and development funding
MNSBIR Inc.
Small Business Innovation Research (SBIR)
Small Business Technology Transfer (STTR)
Technology commercialization
BIPOC-owned businesses
Workforce development

Bill text versions

Introduction PDF file

Actions

Date	Chamber	Where	Type	Name	Committee Name
March 26, 2025	House	Floor	Action	Introduction and first reading, referred to	Workforce, Labor, and Economic Development Finance and Policy
March 31, 2025	House	Floor	Action	Author added

Citations

[
  {
    "analysis": {
      "added": [
        "Appropriation for MNSBIR Inc. to support small business innovation and securing federal funding."
      ],
      "removed": [
        ""
      ],
      "summary": "This appropriation supports small business research and development goals as provided in Minnesota Statutes section 3.222.",
      "modified": [
        ""
      ]
    },
    "citation": "3.222",
    "subdivision": ""
  }
]