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Published September 05, 2013, 10:07 AM

ND Commerce Dept. announces Entrepreneurship grant

BISMARCK, ND – The North Dakota Department of Commerce today announced details of the technology-based entrepreneurship grant (TBEG) program. The program is designed to grow technology based entrepreneurship in North Dakota by providing grants to entrepreneurs and entrepreneurial centers in four main areas: access to capital, marketing assistance, entrepreneur infrastructure and entrepreneurial talent.

BISMARCK, ND – The North Dakota Department of Commerce today announced details of the technology-based entrepreneurship grant (TBEG) program. The program is designed to grow technology based entrepreneurship in North Dakota by providing grants to entrepreneurs and entrepreneurial centers in four main areas: access to capital, marketing assistance, entrepreneur infrastructure and entrepreneurial talent.

This program has two categories in which it provides funding - programs and projects. In order to be eligible for a TBEG grant, an applicant must be a certified entrepreneurial center or a technology-based business working with a certified entrepreneurial center.

Programs or projects must meet the following criteria:

Is the underlying product or service technology-based?

Does the underlying product or service require the innovative use of technology for manufacturing the product or delivery of the service?

The sale of a product or service online does not, in and of itself, constitute a technology-based product or service. (i.e. having a website does not qualify a business or service as technology-based.)

An application for a project with an identified technology-based entrepreneur is limited up to $10,000 for the first phase and up to $14,000 for the second phase for a maximum total of $24,000. Project applications must use an entrepreneurial center to serve as a fiscal agent for the funds.

For additional information visit: www.commerce.nd.gov/programs/technology-based-entrepreneurship-grant-program. Additional questions about the program can be directed to Entrepreneurship Program Manager Jared Stober at 701-328-5373 or jstober@nd.gov.

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