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Post this: 3M is venturing out to promising entrepreneurs; also: St. Paul sees pre-RNC retail expansion; Target sends relief kits to Gulf Coast

Post this: 3M is venturing out to promising entrepreneurs. The company recently said it will engage in “venture-style funding” of new technologies, Dow Jones reports. Venture funding is investing in risky but high-potential inventions or companies. 3M’s initiative comes at a time, Dow Jones notes, when corporate venture investing appears to be on the rise.

More 3M: The Maplewood-based company completed its acquisition of a Swiss filtration company. Ligacon AG makes filtration systems for the pharmaceutical, biotech and general industrial markets, according to the press release. Terms of the sale were not disclosed.

About 50 new shops opened in downtown St. Paul in advance of the Republican National Convention, Finance and Commerce reports.  Business owners are hoping for brisk sales, but the publication notes that the economic impact of past political conventions has fallen far short of expectations.

Target is donating $300,000 in relief packages to aid those affected by Hurricane Gustav. The kits, assembled by volunteers at the RNC, include items such as soap, toothbrushes and toothpaste, granola and protein bars and other snacks. Target is also lending a vacant Dallas store to the Salvation Army and letting the American Red Cross set up in the parking lot of a Target store in Covington, La.

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