FY25 Inclusive and Equitable Entrepreneurial Communities Grant

The Southern Minnesota Initiative Foundation seeks applications which foster communities to build inclusive, welcoming entrepreneurial environments to advance equitable entrepreneurship opportunities in the lives of all people. Donor Name: Southern Minnesota Initiative Foundation State: Minnesota County: Selected Counties Grant Duration: 2 Years Details: The purpose of this grant program is to support IRS-designated 501(c)(3) organizations, units/agencies of government or public institution organizations which are providing direct resources and services to start and expand business opportunities within diverse and/or traditionally underserved populations in southern Minnesota. Examples of initiatives may include the creation of an entrepreneurial education program for diverse and/or traditionally underserved populations, organized community dialogue to build inclusivity around entrepreneurship, expanded access to business resources for all community members; the development of systems to advance equitable entrepreneurial activity and reduce the wealth gap among entrepreneurs of diverse and/or traditionally underserved populations. Applications should effectively illustrate the following Creates economic opportunity and advances economic prosperity for racially diverse populations of potential/existing entrepreneurs. Focuses on the well-being of potential/existing BIPOC entrepreneurs who have experienced inequities. Removes community or systemic barriers to increase access to skills, knowledge, or talents for potential/existing BIPOC entrepreneurs. Demonstrates that initiatives can be sustained or grow beyond the initial funding. Funding Information Up to $10,000 is available to qualified and approved applicants, and recipients will have 18 months to implement their work.  Grant Guidelines  Proposals must be submitted by an IRS-designated 501(c)(3) organization, a unit/agency of government or a public institution.  Informal and grassroots organizations are eligible to apply but will be required to have an eligible fiscal host.  Proposals must demonstrate a direct benefit to SMIF’s 20-county region.  10% cash match is required An interim progress report and final written report will be required by all grant recipients Exclusion Ineligible organizations or activities include: Individuals, businesses, or other for-profit organizations General operating expenses (including staff funding) and expenses not directly related to the project/program Capital funding, real estate investments, fixed assets, equipment, capital campaigns or endowments Project/program expenses incurred prior to application Projects/programs in progress prior to application or completed (excludes planning phase) Funds for re-granting or to establish loan pools Research projects or school-related internships Strategic plans, feasibility studies or project planning without implementation and completion within the 12-month timeframe Participant stipends (scholarships for participant fees may be considered) Organizations that have an open Inclusive & Equitable Communities Grant (cannot close grant prior to project end date listed in contract). For more information, visit SMIF.