Purpose of the Bill

The bill aims to bolster economic development in Minnesota by supporting healthcare innovation and entrepreneurship. It allocates financial resources to foster growth within the healthcare sector.

Main Provisions

• The bill provides a grant to HealthcareMN, allocating $200,000 for the fiscal year 2026 and $200,000 for 2027.
• The funds must support:
  1. Hosting a healthcare venture summit to connect entrepreneurs, investors, and industry leaders to encourage collaboration and investment.
  2. Expanding outreach efforts to establish the Twin Cities as a significant hub for healthcare innovation.
  3. Developing mentorship programs that connect healthcare innovators with experienced corporate leaders and entrepreneurs to aid in accelerating their development and market presence.

Significant Changes

• This appropriation represents a one-time financial allocation specifically directed at advancing healthcare innovation and entrepreneurship through organized summits, expanded regional spotlighting, and mentorship initiatives.

Relevant Terms

economic development, healthcare innovation, entrepreneurship, HealthcareMN, venture summit, mentorship programs, funding allocation, Twin Cities hub