Accessing Cooperative Funding in Minnesota's Rural Areas
GrantID: 71654
Grant Funding Amount Low: $5,000
Deadline: Ongoing
Grant Amount High: $100,000
Summary
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Grant Overview
Minnesota's economy is characterized by a mix of urban and rural industries, with significant sectors in healthcare, manufacturing, and agriculture. However, marginalized communities in the state face barriers to economic participation, including limited access to capital and business training. This funding will support the development of cooperative business models in Minnesota, with a focus on fostering economic resilience in these communities. By providing training and resources, the program aims to increase cooperative ownership and economic benefits for community members.
Barriers to Economic Participation in Minnesota
Minnesota has seen significant economic growth in recent years, but this growth has not been evenly distributed. Marginalized communities, including communities of color and rural populations, continue to face barriers to economic participation. This funding will prioritize projects that address these barriers and promote economic resilience in marginalized communities.
Eligible applicants include community organizations with experience in business development, cooperatives with a proven track record, and educational institutions with existing programs in cooperative economics. Unlike neighboring Wisconsin, Minnesota requires applicants to demonstrate a clear understanding of the state's cooperative laws and regulations. The application process will assess the capacity of applicants to deliver training and resources that meet the specific needs of marginalized communities in the state.
Minnesota's Cooperative Landscape
Minnesota has a strong tradition of cooperative business models, with over 1,200 cooperatives operating across the state. This funding aims to build on this existing landscape by supporting new cooperative developments and expanding existing ones. Successful applicants will need to demonstrate an understanding of the local cooperative ecosystem and a clear plan for engaging marginalized communities.
The state's 2022 Cooperative Development Report highlights the potential of cooperative business models to promote economic resilience and community development. By supporting cooperative development in Minnesota, this funding aims to create more equitable economic opportunities and promote community prosperity.
Eligible Regions
Interests
Eligible Requirements
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