PROMISE Act Grants for Small Businesses in Minnesota
The Women's Foundation of Minnesota (WFM) has launched the Innovators Program, a microgrant initiative aligned with its mission to support the leadership and ideas of young women and gender-expansive leaders. This program directly contributes to the foundation's strategic priorities by empowering youth (ages 16-24) to address gender and racial equity and justice within their communities. Through microgrants, cohort-based learning, and individual leadership coaching, WFM aims to fuel these leaders' ideas and support their development, ultimately advancing key recommendations outlined in the Young Women’s Initiative of Minnesota’s (YWI MN) Blueprint for Action. The primary target beneficiaries of the Innovators Program are young women and gender-expansive individuals aged 16-24 who reside in Minnesota. Priority is given to those who identify with priority communities of the YWI MN, including Black/African American, African Immigrant, American Indian, Hispanic/Latina, Asian/Pacific Islander, LGBTQ+, Disabilities, and Greater/Rural Minnesota communities. The program's impact goals are focused on three core areas: building pathways to economic opportunity, improving safety and well-being, and promoting young women's leadership. The Innovators program prioritizes projects that advance gender and racial equity and justice, led by visionary leaders from diverse backgrounds and experiences. Projects can be varied, including starting or continuing social change initiatives, designing personal learning plans, attending conferences to share learnings, organizing events for impact, supplying resources for advocacy, conducting research, or undertaking travel for learning purposes within Minnesota. The program emphasizes creative thinking in how microgrants can uniquely help move leadership and ideas forward, and how they can increase effectiveness in desired impact. Expected outcomes and measurable results include the successful implementation of grant-funded projects within a 12-month period, demonstrating an advancement in gender and racial equity and justice. Participants are expected to engage in mandatory online and/or in-person convenings for leadership development, advocacy, and community building. This includes direct professional coaching to support their projects and deepen their long-term leadership skills. The foundation's theory of change posits that by investing directly in young women and gender-expansive leaders, providing financial support, leadership development, and a supportive cohort, it can foster impactful projects and cultivate a new generation of leaders capable of driving systemic change.
Award Range
$10,000 - $50,000
Total Program Funding
Not specified
Number of Awards
Not specified
Matching Requirement
No
Eligible Applicants
Additional Requirements
Business must have a primary business operating within the SWIF’s service area which includes the counties of Big Stone, Chippewa, Cottonwood, Jackson, Kandiyohi, Lac qui Parle, Lincoln, Lyon, McLeod, Meeker, Murray, Nobles, Pipestone, Redwood, Renville, Rock, Swift and Yellow Medicine; and Pezihutazizi Oyate (Upper Sioux Community) and Cansayapi Oyate (Lower Sioux Indian Community). Home based businesses are eligible to apply, so long as at least 50% of the employees are based in Minnesota. Sole proprietors are also eligible to apply but will be required to demonstrate business income sources separately from other sources of income. Businesses not operating within the SWIF region should review the DEED website to determine which organization to apply through, as this is a statewide program with different organizations administering in various regions. Business owner(s) and any directors or officers have not been convicted of a crime related to any state law. Business is in good standing with the Department of Revenue. Businesses with $750,000 or less in gross revenue (based on 2021 and 2022 taxes). Have a minimum of $10,000 in revenue in 2022. Businesses must be registered with the Minnesota Secretary of State, if required by Minnesota State Law. Sole proprietors operating their business under their own name do not need to be registered with the Minnesota Secretary of State. Nonprofits operating like a for-profit business, earning 30% or more of revenue on an ongoing basis through non-tax-deductible sales or dues in a fee-for-service model similar to for-profit businesses. Definition of “business-like” revenue that counts toward meeting the 30% threshold includes: program service revenue, membership dues, unrelated or other business income. Revenue that does not count towards meeting the 30% revenue includes: contributions, gifts or grants; fundraising events; asset sales; investment income. Business is operating as of the application date and can produce documents of ongoing operations. This can include recent invoices, payroll records, current lease or other business activity.
Geographic Eligibility
The counties of Big Stone, Chippewa, Cottonwood, Jackson, Kandiyohi, Lac qui Parle, Lincoln, Lyon, McLeod, Meeker, Murray, Nobles, Pipestone, Redwood, Renville, Rock, Swift and Yellow Medicine; and Pezihutazizi Oyate (Upper Sioux Community) and Cansayapi Oyate (Lower Sioux Indian Community).