Launched in 2022, the Growth Fund is an ongoing program that supports Minnesota creative business owners and artists with $2,500 to help sustain or scale their business.
Springboard recognizes that artists are not only creators but also entrepreneurs. Their success depends on more than just their artistic talent; it requires business skills and strategic thinking. We empower artists to turn their creative vision into sustainable careers through support from programs like Growth Fund.
Applicants must have completed at least one Artist Career Consultation during the program cycle dates in order to be eligible for the Growth Fund. MN-based creative business owners and artists can schedule a free 1-hour consultation with a consultant from our Artist Career Consultant to receive professional guidance.
FAQ
Eligibility Criteria:
- Own and operate a creative business in Minnesota for at least 12 months at the time of submission
- Have a business growth opportunity that can be met with a one-time $2,500 grant
- Have at least one Artist Career Consultation during the current cycle period. See spring and fall cycle dates under “Timeline”.
- Complete the Growth Fund application, following an Artist Career Consultation. The form will be emailed to you within 30 days of your consultation.
Ineligible:
- An artist based outside of Minnesota
- Operate a creative business based outside of Minnesota
- 501c3 nonprofit organizations
- Current Springboard Rural Regenerator Fellows or previous Growth Fund recipients
- Springboard for the Arts employees, board members, or immediate family members of either
*All independent contractors of Springboard are eligible to apply.
Examples of potential use of funds may include:
Legal & Intellectual Property
- Purchase business name/logo, licensing, trademarks, patents
Branding & Marketing
- Build-out branding assets, logo, social media, website
Operations & Inventory
- Purchase materials, stock inventory
- Purchase/rent equipment, interior and exterior space improvements, rent space
- Purchase technology or software
Staffing & Contractors
- Hire staff, pay contractors
Participation Costs & Professional Development
- Participation fees for trade shows, fairs, markets, exhibition fees, tours, conferences/professional development, etc.
And more
These are the questions you can anticipate answering on the Growth Fund (MN) Form. An email including a link to the form will be sent to you within 30 days of completing the consultation.
- Do you meet all of the eligibility criteria?
- How long have you been in business? Or how long have you been a practicing artist?
- Is your business registered with the Office of the Minnesota Secretary of State? This is not an eligibility requirement.
- How much revenue/sales has you generated in the past 12 months as a creative business or artist? This is your total revenue, regardless of whether you made a profit or experienced a loss. This may include product sales, teaching, consulting, public speaking, etc.
- Which of these areas does your business need support in to sustain, strengthen, or grow? Business Planning & Strategy, Marketing & Advertising, Legal, Operations, Inventory & Materials, Technology, Staffing or Contractor Support, Professional Development, Other.
- What is the specific need or growth opportunity in your business that could be addressed with a one-time $2,500 grant? Please include a breakdown of how you would allocate the funds to support this need.
- (Optional) Tell us more about your creative business or work as an artist.
Fall Cycle 2024
- May 1, 2024: Drawing process begins
- October 31, 2024: Drawing process closes
- November 30, 2024: Recipients are notified
- December 31: Recipients receive funds
Spring Cycle 2025
- November 1, 2024: Drawing process begins
- April 30, 2025: Drawing process closes
- May 31, 2025: Recipients are notified
- June 30: Recipients receive funds
- Growth Fund recipients are selected through a randomized selection process.
- 25 artists will receive growth funds in each cycle
Looking for advice or support for your creative business? Springboard for the Arts offers free or low-cost artist career consultations to artists, artist entrepreneurs, and creative small business owners.
The Growth Fund program is made possible with generous support from U.S. Bank Foundation.
More Resources
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Creative ExchangeToolkits, stories, and more at Creative Exchange
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Incubator Fiscal SponsorshipSpringboard’s Incubator is a fiscal sponsorship program that provides sponsorship for arts organizations and individual artist projects
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Grant ResourcesFind grant resources and funding for your creative business