The Minnesota Science and Technology Authority said it will ask the state Legislature for $10 million to fund programs that help develop promising start-ups.
The authority wants to spend $10 million on the following initiatives: $2 million on a technology development fund, $2 million for a business and entrepreneurial acceleration program, $4 million on a program that helps start-ups get federal grants, $1.75 million on an internship program and $250,000 for the authority’s operational costs.
A bill requesting the amount for fiscal year 2013 was filed last week. The goal is to grow the state’s science and technology industry by supporting companies as they develop their technology and training the workforce.
Last year, the authority battled for funding among other groups. It had originally asked for $10 million and received only $350,000, excluding salaries and overhead costs.
The authority is hoping for more money this time around.
“I’m optimistic,” said Betsy Lulfs, the authority’s executive director.