Artists and creative businesses make thriving economies possible. The Growth Fund supports Minnesota artists and creative business owners with $2,500 to help sustain or scale their business.
About Growth Fund
Artists and creative businesses are vital contributors to healthy local economies, and need specialized resources and financial support just like any other business. Yet, their work can often fall outside of business development programs or not meet the kind of capital needs for a bank or CDFI investment.
Investing in vibrant, just, and equitable communities
To address this funding gap, Springboard for the Arts offers the Growth Fund as a way to invest in vibrant, just, and equitable communities and local economies.
The Growth Fund has two annual funding cycles, one in spring and one in fall, and funds are allocated by a randomized selection to eligible applicants. Interested applicants are required to complete an Artist Career Consultation prior to their application, and have a business need or growth opportunity that can be met with a one-time, $2,500 grant.
Since its launch in 2022, the Growth Fund has supported over 56 businesses with $140,000.
This scale of funding is ideal for creative businesses to establish legal protections, marketing or branding collateral, build inventory, or attend trade shows or fairs to build their business network. Since its launch in 2022, the Growth Fund has supported over 56 businesses with $140,000.
Frequently Asked Questions
Eligibility Criteria
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 the timeline below.
Submit a Growth Fund application, following an Artist Career Consultation. The form will be emailed to you after your consultation
Ineligible:
Artists 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 employees/board members
*All independent contractors of Springboard are eligible to apply.
Potential Use of Funds
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
Purchase technology or software
Staffing & Contractors
Hire staff, pay contractors
Participation Costs & Professional Development
Participation fees for trade shows, fairs, markets, exhibition fees, tours, conference/professional development, etc.
Growth Fund (MN) Form Questions
These are the questions you can anticipate answering on the Growth Fund 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 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 Minnesota Secretary of State? This is not an eligibility requirement.
How much revenue/sales have 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, strength, 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.
Timeline
Spring Cycle 2025
Spring Cycle 1:
November 1st, 2024: Drawing process begins
April 30th, 2025: Drawing process closes
May 31st, 2025: Recipients are notified
June 30, 2025: Recipients receive funds
Fall Cycle 2
May 1, 2025: Drawing process begins
October 31st, 2025: Drawing process closes
November 30th, 2025: Recipients are notified
December 31, 2025: Recipients receive funds
Selection Process
Growth Fund recipients are selected through a randomized selection process, and 25 artists receive growth funds in each cycle.
