Business Innovation Grant Program

The Business Innovation Grant (BIG) Program, administered by the Renville County Economic Development Authority (EDA), is designed to support business development and growth within Renville County, Minnesota. This competitive grant program aims to provide targeted financial assistance to local businesses that demonstrate potential for job creation, revenue growth, or significant community impact. With only one grant awarded per business per calendar year, the program emphasizes fair access and promotes impactful use of limited funds. The initiative reflects Renville County’s strategic priority to foster a vibrant local economy and retain or expand business operations in rural Minnesota. The maximum grant amount available under the BIG Program is $3,000. Eligible uses of these funds include equipment purchases or upgrades, development or promotion of new product lines, professional development or employee training (limited to tuition costs), information technology upgrades, and capital improvements such as the purchase, construction, renovation, or expansion of buildings. Projects must demonstrate specific economic potential, such as the ability to create or retain jobs or increase business revenue. Importantly, applicants must match grant funds on a minimum 1:1 basis and expend at least double the grant award amount in reimbursable costs. Only expenditures incurred after the application submission are eligible for reimbursement. Applications for the BIG Program are accepted on a rolling basis, with four annual review cycles closing on January 1, April 1, July 1, and October 1. Action is taken on applications during the corresponding HRA/EDA Board meetings held in each of those months. To be considered, applicants must submit a typed application prior to completing their project, along with supporting documentation such as project specifications or bids. Only complete applications received before each cycle’s deadline will be reviewed. Invoices and receipts must be submitted by December 10, or the grant award will be forfeited. Applications are evaluated competitively based on several criteria: project need, potential economic impact, leveraging of other funds, project feasibility, and the applicant's readiness to deploy funds in a timely manner. The review process also takes into account whether an applicant has received a prior BIG grant, which could impact scoring. Businesses that are awarded grants must sign a grant agreement before funds are released, ensuring all compliance conditions are met. Contact for the BIG Program is available through the Renville County EDA, which offers both online and printed application options. The EDA can be reached at 320-523-3656 or via email at [email protected]. All applicants are encouraged to submit complete and timely applications to maximize their opportunity for funding. The program is structured to recycle any unused funds from previous rounds into subsequent application periods within the same calendar year, thus ensuring efficient use of public development resources. While there are no explicit eligibility restrictions listed by organization type, all applicants must operate businesses within Renville County and meet the program’s project criteria. The grant program does not serve as a general operating subsidy, and projects solely related to maintenance activities may receive lower scores during evaluation. The structured and recurring nature of the BIG Program offers consistent opportunities for local businesses to access small-scale, impactful funding that supports innovation and economic vitality across the county.

Projects are scored competitively based on need, economic impact, and readiness. Maintenance projects score lower. Prior grants influence future eligibility.