FY25 Inclusive and Equitable Entrepreneurial Communities Grant

The Southern Minnesota Initiative Foundation (SMIF) is inviting applications from organizations committed to building inclusive and welcoming entrepreneurial environments that expand equitable opportunities for all. This grant aims to empower communities in southern Minnesota to support diverse and traditionally underserved populations in pursuing entrepreneurship. By strengthening local ecosystems that remove barriers to participation, SMIF seeks to drive lasting economic vitality and ensure that prosperity is shared across racial and cultural lines. The foundation is particularly focused on initiatives that cultivate equitable access to entrepreneurial resources and that foster collaboration among community members to create long-term change. Eligible applicants include IRS-designated 501(c)(3) organizations, government entities, and public institutions that provide direct services or resources to help entrepreneurs start and grow businesses. Grassroots and informal organizations may also apply, provided they have an eligible fiscal sponsor. Proposed initiatives might include entrepreneurial education programs designed for BIPOC or underserved populations, community dialogues promoting inclusivity in business, or systems that expand access to funding, mentorship, and professional development. Successful proposals will articulate how their projects create tangible economic opportunities and address the systemic inequities faced by entrepreneurs of color in the region. The foundation will award grants of up to $10,000 per project, with a grant duration of up to 18 months for implementation. Each recipient is required to provide a 10% cash match and to submit both interim and final reports detailing progress and outcomes. Projects must demonstrate clear alignment with SMIF’s mission, show measurable community impact within its 20-county region, and present a plan for sustaining efforts beyond the grant period. Proposals that show strong collaboration and innovation in addressing racial and economic disparities will be viewed favorably. Certain activities and applicants are not eligible for funding. Exclusions include individuals, for-profit businesses, and general operating expenses unrelated to the project. The grant will not support capital purchases, real estate investments, feasibility studies without implementation, or re-granting activities. Likewise, projects already underway or completed before application are not eligible, nor are those focused on research or school-based internships. Organizations with an open Inclusive & Equitable Communities Grant from SMIF are also ineligible until the previous project concludes. Through this program, SMIF continues its mission to advance equitable economic growth across southern Minnesota. By investing in community-led efforts to uplift diverse entrepreneurs and dismantle barriers to opportunity, the foundation is helping to create a more inclusive, sustainable, and prosperous regional economy.