Purpose of the Bill

The purpose of this bill is to allocate funds for economic development, specifically targeting healthcare innovation and entrepreneurship in Minnesota. The bill aims to enhance the state's healthcare sector by supporting initiatives that foster economic growth and drive community impact.

Main Provisions

• Appropriation of Funds: The bill proposes a one-time appropriation of $200,000 for fiscal years 2026 and 2027 each. These funds will be allocated from the general fund.
• Grant to HealthcareMN: The commissioner of employment and economic development will provide these funds as a grant to HealthcareMN.

Objectives of the Grant

1. Healthcare Venture Summit: Organize an event to connect entrepreneurs, investors, and industry leaders, with a focus on collaboration and investment in healthcare innovations.
2. Regional Outreach Expansion: Enhance resources and partnerships within the Twin Cities metropolitan area, aiming to establish it as a major hub for healthcare innovation.
3. Mentorship Programs: Develop programs linking healthcare innovators with corporate leaders and successful entrepreneurs, thereby promoting growth and market impact.

Significant Changes

This bill constitutes an introduction of targeted financial support aimed at fostering relationships and growth in the Minnesota healthcare sector through strategic events and programs.

Relevant Terms

• Appropriation
• Healthcare innovation
• Economic growth
• Healthcare entrepreneurship
• Twin Cities metropolitan area
• Mentorship programs
• HealthcareMN
• Venture summit
• Regional outreach