Minnesota Agencies

The board shall submit a report to the commissioner of employment and economic development by February 1 of each year describing the condition of Minnesota small businesses that are majority owned and operated by a racial or ethnic minority, woman, veteran, or a person with disabilities, along with any policy recommendations; act as a liaison between the department and nonprofit corporations engaged in small business development support activities; and assist the department in informational outreach about the program.

The Emerging Entrepreneur Program was established in 2016 (HF2749) to award grants to nonprofit corporations to fund loans to businesses owned by minority or low-income persons, women, veterans, and people with disabilities. The Minnesota Emerging Entrepreneur Board was created to assist the Employment and Economic Development Department in managing the program.

2016 Minn. Laws Chap. 189 Art. 7 Sec. 37 repealed the Urban Initiative Board and indicated that it is being replaced by the Minnesota Emerging Entrepreneur Program. The change was effective July 1, 2016.

As of 2016, the board is composed of 12 members: the commissioner of employment and economic development, the commissioner of human rights, the chair of the Metropolitan Council, and 12 members from the general public appointed by the governor. Nine of the public members must be representatives from minority business enterprises. No more than six of the public members may be of one gender. At least one member must be a representative from a veteran-owned business, and at least one member must be a representative from a business owned by a person with disabilities. Appointments must ensure balanced geographic representation. At least half of the public members must have experience working to address racial income disparities. All public members must be experienced in business or economic development.