The bill proposes an appropriation of $5,000,000 from the general fund for fiscal year 2026 to support MNSBIR, Inc. in its efforts to assist Minnesota small businesses in securing federal research and development funding. This one-time appropriation is available until June 30, 2027, and aims to enhance the innovation economy by facilitating the transition of scientific advancements from laboratories to market-ready products. The grant will focus on several key objectives, including increasing the role of small businesses in federal research, enhancing the commercial application of federally supported research, and promoting workforce development, particularly among businesses owned by Black, Indigenous, People of Color, and women.

MNSBIR, Inc. is tasked with utilizing the grant funds to become a dedicated resource for Minnesota small businesses in the realm of federal research and development. The organization will provide assistance in various areas, such as securing federal funding, supporting technology transfer from major institutions, conducting outreach and training on federal regulations, and aiding in scientific writing and grant management. The overarching goal is to foster innovation and economic growth by empowering small businesses to leverage federal resources effectively.