Innovate ND is sponsored by State of North Dakota. - A state funded voucher reimbursement program to help North Dakota entrepreneurs further their business by supporting customer and market research. (up to $22,500 per business) <a href="/economic-dev Category: Economic Development.

Innovate ND | Commerce | North Dakota Application period is now closed! Innovate ND is a voucher-based reimbursement program designed to help North Dakota entrepreneurs advance their businesses by supporting customer and market research. Each participant may receive up to $50,000 in reimbursable expenses, administered through the Entrepreneur Centers.

The program is divided into two phases, each offering up to $25,000 in reimbursements. Participants have six months per phase, with a maximum of 12 months to complete the full program. Grow the entrepreneurial ecosystem in North Dakota and enhance economic development and economic diversity in the state.

Educate and assist participants on the lean business model canvas, value proposition, and customer identification. Assist participants to validate their product and market by tracking metrics such as investment, sales, or customer interviews. Support the development of new, innovative businesses with clear potential for Primary Sector Certification.

Innovate ND is administered through four Entrepreneur Centers: ND Women's Business Center Jamestown Regional Entrepreneur Center Barry D. Batcheller Tech Park UND Center for Innovation Entrepreneurs must meet the following criteria for acceptance into Phase 1: North Dakota-based business with at least one founder residing in the state.

The business is headquartered in North Dakota and is registered and in good standing with the North Dakota Secretary of State’s Office. The business is scalable with potential to become a certified primary sector business. Retail, hospitality, and local service-based ventures are not eligible.

Must demonstrate in their application they have reached the following levels: Founding Team: Founder(s) with a team of different skillsets and aspirations to scale. Problem: Team has identified a specific problem and the problem is large enough to have significant market potential or have significant market share. Value Proposition: Team has clarified what they believe is the unique value proposition for their target audience.

Customer Validation: Team has evidence to support they have potential customers that are willing to pay for their solution. Product: Team has a basic prototype or proof-of-concept that solves the problem and/or has a product development roadmap.

Go-to-Market: Team has a basic understanding of their industry and can identify the target customer, the total addressable market, and their initial go-to-market strategy with supporting key metrics. Business Model: Team has identified an initial revenue model and can point to similar products in the market as evidence their revenue assumptions are reasonable.

Business Roadmap: Team has identified a 12-month roadmap of their business with milestones and key assumptions. Commerce will accept applications in quarterly application windows: A business plan (or executive summary to a business plan) A business model canvas (optional) Applications are reviewed for completeness and eligibility.

Eligible applications are scored, based on the following criteria: Business Plan and innovation Founding team qualifications and readiness Market opportunity & customer validation North Dakota impact and alignment with program goals The top scoring applicants are invited to pitch to the Panel. The Panel determines which applicants are approved for Phase 1 (access is not guaranteed).

Approved participants will be assigned a lead coach and begin Phase 1. Innovate ND Program Manual For more information on Innovate ND, contact Carla Valentine .