Launching a Minnesota business? State has $2.5M to help you get started

Launch Minnesota, the new Minnesota Department of Employment and Economic Development (DEED) program that carves out $2.5 million for startup entrepreneurs, is taking shape. Announced earlier this year, the bipartisan initiative now has some specifics.

Applications will be taken starting Oct. 30 and will be reviewed on a rolling basis. Eligible companies must be headquartered in Minnesota, younger than 10 years old and less than $1 million in revenue.

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