Growth Fund (MN)

- If you have had an Artist Career Consultation since April 1, 2022, we will be reaching out to you by email about the Growth Fund (MN).
- If you have not had an Artist Career Consultation since April 1, 2022, sign up for a Consultation and schedule your consultation before September 15, 2022. After your consultation is completed (deadline September 30), you will receive further information about your eligibility for the Growth Fund (MN).

Eligibility Criteria
- Attend at least one Artist Career Consultation between April 1 – September 30, 2022
- Own and operate a creative business in Minnesota for at least 12 months at the time of “Lottery Drawing” (Mid October 2022)
- Have a business growth opportunity that can be met with a one-time $2,500 grant
- Opt into Lottery by filling out and submitting the Growth Fund (MN) Form, which will be included in an email following your Artist Career Consultation

Ineligible: Current and past Creative Economy Fellows and Rural Regenerator Fellows. Employee or board member or immediate family member of Springboard for the Arts (independent contractors, including current Artist Career Consultants, are eligible to apply)

In this pilot phase, at least 50% of the funds will be allocated by lottery to artists and creative business owners who:

• Are BIPOC or Native, and/or
• Live, work or have significant connection to one of LISC’s* Twin Cities Cultural Districts.

* Local Initiatives Support Corporation (LISC) support in this phase prioritizes these Twin Cities Cultural Districts

These are the questions you can anticipate answering on the Growth Fund (MN) Form.

1. How long have you been in business?
2. Have you claimed income and expenses as an artist in 2020, 2021?
3. How much revenue/sales (i.e. not profit as most are operating at a deficit) has your business generated in the past 12 months?
4. Have you registered a business name yet?
5. Do you live or work in one of these Twin Cities Cultural Districts?
- If not, do you have a significant cultural connection to one of these districts? Please describe.
6. Is your business BIPOC/Native-owned?
7. What support does your business need in order to sustain/strengthen or grow/scale?
8. If you could assign a specific dollar amount to the previous question, what would that number be in order for your business to strengthen or scale?
9. What is your business need or growth opportunity that can be met with a one-time $2,500 grant?
10. Do you meet all of the eligibility criteria?
11. Would you like to opt-in to the lottery drawing in mid October 2022?

Examples of potential use of funds may include:

1. Purchase business name/logo, license, trademarks, patents
2. Build-out branding assets, website
3. Purchase materials, stock inventory
4. Hire staffing, pay contractors 
5. Purchase/rent equipment, space
6. Attend trade shows, fairs, markets
7. Facade improvements

Selection Process
- Lottery process, conducted by Springboard Staff. This is not a public drawing.
- Lottery will be awarded through a randomized selection process. In this pilot phase, at least 50% of the funds will be allocated by lottery to artists and creative business owners who: (1) Are BIPOC or Native, and/or (2) Live, work or have significant connection to one of LISC’s Twin Cities Cultural Districts. At least 12 applicants will receive growth funds in this pilot phase.

Timeline

April 1, 2022 - Lottery Open
September 30, 2022  -  Lottery Closes
Mid October 2022 - Lottery Drawing
Mid October 2022  -  Award & announce recipients