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.