Innovation Voucher Award Program
October 16, 2018
Financial Awards Give Small Businesses Access to Technical Assistance
The Innovation Voucher Award Program provides $5,000 to $25,000 awards to help small businesses purchase technical assistance and services necessary to advance research, development or commercialization of new or innovative products and services.
Qualifying businesses receive awards – which the recipient must match on a 50 percent basis – to reimburse for expenses incurred for assistance and services rendered by public universities, colleges, technical schools and non-profits in Minnesota. Reimbursable expenses include purchased technical assistance and services in research, technical development, product development, commercialization, market development, technology exploration, and improved business practices, including strategies to grow business and create operational efficiencies.
Expenses not directly related to the development and commercialization of new and innovative products and services are not eligible for reimbursement.