The advisory board shall consist of ten members and is governed by Minnesota Statutes, section 15.059. A minimum of seven members must be from the private sector representing business and at least two members but no more than three members must be from government and higher education. At least three of the members of the advisory board shall be from greater Minnesota. Appointees shall represent a range of interests, including entrepreneurs, large businesses, industry organizations, investors, and both public and private small business service providers.
The advisory board shall select a chair from its private sector members. The executive director of Launch Minnesota shall provide administrative support to the advisory board.
The commissioner of DEED, or a designee, shall serve as an ex-officio, nonvoting member of the advisory board.
As of 2021, the board must include at least three minority group members.