Startup Funding
Funding for Startup Companies and Business Innovation
Whether launching a startup company or an innovative product line, finding funding to bring ideas to life is a crucial part of business success. Startup funding doesn’t lack competition, so making certain you have a solid business model or thought out prototypes, and a pool of market research could be the difference between receiving funding or walking away empty-handed.
Our expert startup coaches know more than a thing or two about funding pathways including venture capital, angel funds, and low-interest financing programs. Sit down with us so we can learn about your goals and develop customized business resources tailored to your needs.
Small-Business Funding Programs
Our startup coaches at the UND Center for Innovation can help you navigate the competitive world of funding resources. Contact us today and set up an appointment to learn about funding programs and business coaching resources tailored to your North Dakota company.
Below are examples of business support programs designed to provide funding and support through a business startup or expansion phase.
SBIR/STTR
The federal SBIR (Small Business Innovation Research) and STTR (Small Business Technology Transfer) programs can assist eligible small businesses with funding to advance technology solutions with federal funds through a number of federal agencies.
InternGF
Internships play a crucial role for employers in the recruitment and retention of young talent and for college students to have an advantage in joining the workforce. InternGF is designed to increase the number of local internship offerings, aiding employers’ workforce recruitment and retention efforts. InternGF offers up to $3,500 to offset an intern’s salary.
LIFT Fund
The Legacy Investment for Technology Loan Fund (LIFT) is an innovation loan fund that supports technology advancement by providing financing for the commercialization of intellectual property within the state of North Dakota.
Innovate ND
Innovate North Dakota is a voucher reimbursement program to help North Dakota entrepreneurs further their business by supporting customer and market research. Through expert guidance from business coaches at Entrepreneurial Centers, Innovate ND provides the entrepreneurial community of North Dakota the resources needed to help turn an innovative idea into a profitable business.
Wonder Fund North Dakota
North Dakota and O’Leary Ventures have partnered to find the best and brightest entrepreneurial business leaders. Collaborate with a state that is pro-business, pro-growth and that has diverse economics to see the opportunity that lies ahead. Do you have what it takes to be part of Kevin O’Leary’s initiative to make North Dakota a powerhouse for small businesses?
Business Development Loan Program
The Business Development Loan Program assists new and existing businesses to obtain loans that have a higher degree of risk than would normally be acceptable to a lending institution. It may be used to start or expand a new business or for refinancing.
Beginning Entrepreneur Loan Guarantee Program
The Beginning Entrepreneur Loan Guarantee Program assists with business startup financing by providing financial institutions with guarantee of a loan not to exceed $500,000.
EB-5 Investment
The Immigrant Investor Program, also known as “EB-5”, is a job creation visa program. The program was created in 1990 by Congress and is administered by U.S. Citizenship and Immigration Services (USCIS). The purpose of an EB-5 regional center is to stimulate econometric development, create jobs, and improve regional productivity through foreign direct investment in local businesses, while providing eligible foreign investors an opportunity to become permanent U.S. residents. The UND Center for Innovation Foundation applied to USCIS for a regional center designation and was granted approval to operate The North Dakota/Minnesota EB-5 Regional Center in April 2011.
The Vault – North Dakota
The Vault contains a comprehensive library of small business programs that exist today. Inside, you can find and apply for support from a variety of organizations that helps businesses in specific industries and stages or growth. Big or small, woman or minority owned, rural or urban, start-up or existing – you name it. Explore all that ND has to offer for you and your business, right at your fingertips.
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