MTI Launches $3 Million Cluster Initiative
Over the next three years, Minnesota Technology, Inc. (MTI) will invest $3 million to support the development of existing and emerging technology-focused industry clusters. The new program is designed to increase collaboration between groups of tech business and the state’s nonprofit research, federal lab, and academic research communities. By focusing on the near-term technology needs of Minnesota businesses, MTI expects the program will lead to increased technology commercialization and high tech employment by the cluster businesses.
MTI anticipates making three to five investments each year, with awards
reaching $300,000 to $500,000 for qualified cluster proposals. Cluster projects must involve a minimum of four companies and at least one outside research resource, such as a local academic partner, federal lab or private, nonprofit R&D facility.
More information on the new program can be found at http://www.minnesotatechnology.org/