Innovate ND is now the only way for entrepreneurs to get state funding from North Dakota. In an effort to streamline the process of getting state funding to entrepreneurs, what was formerly the Technology-Based Entrepreneurship Grants (TBEG) program is now combining with the pre-existing Innovate ND program.

“It was creating some confusion in the market,” said Innovate ND Program Manager Jared Stober. “People in Innovate thought they were in TBEG, and vice versa.”

With this change, all applicants for the TBEG grant that were waiting to have their applications refreshed must now re-apply for Innovate ND. There are 15 applicants who must do this, Stober said.

Under the new branding of Innovate ND, entrepreneurs still have access to the $3.2 million allocated for entrepreneurship funds by North Dakota. One thing that does change, however, is the amount each applicant is eligible for; whereas before, applicants to either grant were eligible for $42,500, under the new program, that number has now dropped to $32,500.

The reason being, Stober said, is that they hope to spread the funds out across a more diverse variety of applications, without creating a grant exclusively for tech-based applicants.

“Now it can be a food item, or some sort of widget…not just tech-based,” Stober said. “It’s creating more of a common brand. This way funnels everyone into the same program.”

Although Fargo is particularly tech-heavy, Stober said, the western part of the state is less so. By creating just one method of accessing entrepreneurship state funds, “it better coats what North Dakota is known for,” he said.

So far, they have received a variety of applications varying from a project on social media and music or an online solution for extracurricular sports, to educational gaming and drone inspection, Stober said.

“The fun part is you get this wide gambit of business and entrepreneurs,” he said. “It’s fun putting them all in the same room.”

These adjustments also ensure that the funding won’t run out as quickly as they did last time. Last biennium, Innovate ND ran out after only 9 months, with 73 applicants registered for Innovate ND (and many overlapping into TBEG) and a total of 58 projects funded.

However, with the amount of applicants they have projected, Stober said they will still run dry before the next biennium.

“It’s because entrepreneurship is alive and well in North Dakota,” he said.

Stober himself is also an entrepreneur, and sold his company Flax USA to Stober Farms this year. He’s kept his own experience in mind as he restructures the funding process.

“I wanted to restructure it so it’s a program I’d like to use,” he said (although he remarked that unfortunately he’s not allowed to apply for funds.)

Here’s how:

Applications are already pooling in, so APPLY NOW! Time is of the essence.

1. Go to http://www.innovatend.com/

2. Click on enroll, pay the fee.

3. Now you’re into the program.

You will then begin a process of 5 phases that includes boot camps, in order to accelerate your business.

For more questions, contact Jared Stober at jstober@nd.gov