Southern Minnesota Initiative Foundation Receives Grant to Support Regional Bioscience Opportunities

Southern Minnesota Initiative Foundation, Owatonna, has received a grant from The McKnight Foundation to support regional bioscience opportunities, allowing the foundation to continue its work toward the development of the economic and workforce resources necessary for southern Minnesota businesses to succeed in the emerging bioscience economy.

"This effort is an asset-based community development collaboration," said Trixie Golberg, president of Southern Minnesota Initiative Foundation. "It's a strategic, intentional, up-front commitment to working hand-in-glove with business and science on economic development issues that are significant to our region."

The $125,000 grant is the second Southern Minnesota Initiative Foundation has received toward developing bio-industries in the region. Last year's grant of $26,000 helped launch a Southern Minnesota Bio-Industry Marketplace Initiative resulting in increased connections, expanded understanding of the bio-industry field, and identified gaps in the region's ability to realize the economic benefits of the bioscience economy.

The foundation's objectives for the coming year include helping to connect the regional/state bio-industries to financial and industrial interests and helping local leaders better understand the opportunities associated with growing local bio-industries. "We are also committed to supporting local bio-industries by helping them meet their workforce and capital needs," noted Golberg. "This latest grant from McKnight, combined with other supporters, will enable us to better use our research and commercial assets to significantly increase this industry cluster here in southern Minnesota."

The Southern Minnesota Initiative Foundation, a leading member of the Regional Economic Development Group (RED), a collaboration of business groups, foundations, education systems, public sector agencies, nonprofits and other regional interests, has four objectives for this collaborative effort in 2005:

For more information on the bio-industry efforts, visit smifoundation.org/Bio_Industry.html, or call 507.455.3215.

top