MN HF2381

Establishes a state grant program to match funds received by Minnesota-based companies through federal Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) programs for Phase I and Phase II awards granted after state fiscal year 2018.

Limits Phase I grants to $250,000 per recipient per year and Phase II grants to $500,000 per recipient per year, with a combined cap of $750,000 per recipient per year across both programs.

Requires eligible applicants to submit applications to the commissioner of employment and economic development on a form prescribed by the commissioner.

Appropriates $8,000,000 in fiscal year 2020 and $8,000,000 in fiscal year 2021 to the commissioner of employment and economic development to administer the program.