Gov. Tim Walz's budget proposal includes $9 million to create a new Minnesota Innovation Collaborative.
If approved by the legislature, the effort would funnel grants and other aid to help start, grow or attract high-tech start-up firms in Minnesota.
The collaborative plans to rely on a host of new state grants, apprenticeship programs, and new office or lab space that will be dedicated to outreach, education and training.
In announcing the new proposal, state officials said "MIC will create a touchstone to support and enhance the state's visibility and interest in the innovation ecosystem. It will bring together all the key players in one space."
If approved, the initiative would be administered by the Minnesota Department of Employment and Economic Development (DEED). The proposal requests $4.5 million for fiscal year 2020 and another $4.5 million for fiscal year 2021.