SMALL BUSINESS TECH BOOST GRANT PROGRAM
Tech Boost is a reimbursement program designed to help small businesses in Northeast Minnesota adopt new technologies that will help them thrive. Participating businesses will receive a free expert consultation on technology-related investments that can help the business sustain and grow. After consultation, the small business purchases eligible technology equipment or services and can apply for reimbursement of two-thirds of the project cost up to $1,000 in grant funding!
- Business must be registered as a for-profit business entity with the State of Minnesota prior to December 1, 2021.
- Business must be physically located in Aitkin, Carlton, Cook, Itasca, Koochiching, Lake, or St. Louis County.
- Business must request services from Northland SBDC if they are not already a Northland SBDC client. Northland SBDC offers no-cost consulting to small businesses, and there is no charge for applying for this program.
- Business must complete a Tech Boost consulting session and be approved for the program before applying for reimbursement.
- This is a reimbursement grant program. The small business must purchase the technology-related good or service before applying for grant reimbursement and submit proof of payment.
- Technology purchases must be completed after finishing your Tech Boost Consultation. Grant reimbursement is not available for previously completed purchases.
HOW CAN I SIGN UP FOR TECH BOOST?
Eligible small businesses should follow these steps to access grant funding from Tech Boost:
Fill out this short survey so we can contact you and get you connected with a Northland SBDC consultant.
Watch your email for communications from us to schedule your Tech Boost Consultation.
Attend your Tech Boost Consultation session and choose a technology-based investment that will help your small business.
Complete a purchase for eligible equipment or technology-related services.
Upload the required documentation to request grant reimbursement including your invoice (if applicable), proof of payment or receipt, ACH form, W9, and SBDC attribution form.
Receive grant reimbursement of 2/3 of your Tech Boost project cost up to a maximum of $1,000 deposited into your bank account within 45-60 days of your completed reimbursement request.
FREQUENTLY ASKED QUESTIONS
Tech Boost is currently limited to for-profit Minnesota small businesses.
Technology-related improvements that can help your small business are eligible including equipment and services. Some examples include laptops, tablets, point of sale systems, printers or labeling machines, website development services or fees, social media management consultant fees, software purchases, etc.
Most grant funds are considered taxable income. Northland Foundation will be issuing Form 1099 to recipients in alignment with IRS guidelines. We recommend working with a tax professional to evaluate taxability of this income for your specific business situation.
Tech Boost Consultations will be available virtually using free and easy-to-use video conferencing software as well as limited in-person meeting opportunities. You will be able to choose an available time that works for you. If you are new to video conferencing or don’t have the broadband or equipment to meet remotely, we have local business consultants across the region that can help you get connected to a virtual Tech Boost Consultation.
Tech Boost is strictly a reimbursement grant program. Small businesses must purchase the equipment, software, or services upfront and apply for reimbursement. Businesses will receive their grant funds after submitting the required documentation including proof of purchase.
Businesses are responsible to pay for 1/3 of the Tech Boost project purchase cost and any cost over the maximum grant reimbursement amount of $1,000. There are no fees or costs to sign up for the program or to access your free Tech Boost Consultation. This table shows the business’s financial responsibility depending on different project costs.
Total Tech Boost Purchase
The Tech Boost Grant Program is supported through the Arrowhead Intelligent Region initiative and generous contributions from the Minnesota Department of Iron Range Resources & Rehabilitation, the Blandin Foundation, the Northland Foundation, and the Compeer Financial Fund for Rural America.