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Proof of Concept Program is sponsored by South Dakota Governor's Office of Economic Development (GOED). This program offers grants to prove the feasibility of an innovation before bringing it to market. Eligible expenses include salaries (for South Dakota non-principal employees only), materials and supplies, expert consultants, and technical feasibility and marketing studies.
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Proof of Concept Fund - South Dakota Governor’s Office Of Economic Development The Proof of Concept Fund is a loan program that will provide up to $25,000 investments for eligible applicants to conduct research demonstrating the technical and economic feasibility of an innovation significantly enhancing the likelihood of commercialization of the innovation.
Eligible applications for “Proof of Concept” investments include: entrepreneurs, universities, existing South Dakota companies, or other entities committed to commercializing the results in South Dakota. Complete the program application and submit it to GOED. GOED staff will review the application, determine eligibility and contact the applicant if additional information is needed.
Eligible applications will be reviewed for technical/scientific viability and economic viability. The Research Affairs Council, consisting of representatives from the six public universities, will conduct a technical review of the proposals. An advisory group of private equity investors and business incubator managers will conduct a business review of the proposals.
The technical and business reviews will be will be used by GOED to make a decision on approval of the application. If approved, a contractual agreement will be sent to the applicant for approval and the proof of concept project will be conducted. Upon completion of the proof of concept study a final report will be submitted summarizing the study and indicating if the project will continue toward commercialization.
At that time the investment may be forgiven or the repayment/investment terms will be instituted. Applications can be submitted at any time. The staff of the GOED will screen all applications for completeness and eligibility requirements, and forward to reviewers within 10 days of submission.
A matching cash or in-kind investment of at least 10 percent of the project cost is required. Investment proceeds may not be used to pay the principal(s) or researcher(s) salaries. Legal fees for incorporation and sales expenses and general business operating expenses are not eligible.
Investment proceeds may be used to pay, consultant contracts, material and supplies, salaries for employees in South Dakota, and necessary services for technical feasibility or marketing studies. Eligible applications for “Proof of Concept” investments include: entrepreneurs, universities, existing South Dakota companies, or other entities committed to commercializing the results in South Dakota.
Complete the program application and submit it to GOED. GOED staff will review the application, determine eligibility and contact the applicant if additional information is needed. Eligible applications will be reviewed for technical/scientific viability and economic viability.
The Research Affairs Council, consisting of representatives from the six public universities, will conduct a technical review of the proposals. An advisory group of private equity investors and business incubator managers will conduct a business review of the proposals. The technical and business reviews will be will be used by GOED to make a decision on approval of the application.
If approved, a contractual agreement will be sent to the applicant for approval and the proof of concept project will be conducted. Upon completion of the proof of concept study a final report will be submitted summarizing the study and indicating if the project will continue toward commercialization. At that time the investment may be forgiven or the repayment/investment terms will be instituted.
Applications can be submitted at any time. The staff of the GOED will screen all applications for completeness and eligibility requirements, and forward to reviewers within 10 days of submission. A matching cash or in-kind investment of at least 10 percent of the project cost is required.
Investment proceeds may not be used to pay the principal(s) or researcher(s) salaries. Legal fees for incorporation and sales expenses and general business operating expenses are not eligible. Investment proceeds may be used to pay, consultant contracts, material and supplies, salaries for employees in South Dakota, and necessary services for technical feasibility or marketing studies.
Proof of Concept Detailed Budget Worksheet
Based on current listing details, eligibility includes: Entrepreneurs, South Dakota universities, existing South Dakota companies, or other entities committed to commercializing results in South Dakota; 10% matching contribution required. Applicants should confirm final requirements in the official notice before submission.
Current published award information indicates Up to $25,000 Always verify allowable costs, matching requirements, and funding caps directly in the sponsor documentation.
The current target date is rolling deadlines or periodic funding windows. Build your timeline backwards from this date to cover registrations, approvals, attachments, and final submission checks.
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The purpose of this FOA is to provide funding for up to four (4) Tribal Colleges and Universities (TCUs) that will provide entrepreneurial development services to Native American communities, focusing on supplying services to socially and economically disadvantaged entrepreneurs in locations that are outside of the geographical areas of existing SBA resources. Eligible applicants must be Tribal Colleges and Universities as defined in the Higher Education Act HEA 316 (U.S.C. 1059c). Funding Opportunity Number: SB-GC7J-23-002. Assistance Listing: 59.007. Funding Instrument: G. Category: BC,ED. Award Amount: Up to $250K per award.
The purpose of this FOA is to provide funding for up to two (2) private, non-profit organizations that will provide entrepreneurial development services to women, with an emphasis on socially and economically disadvantaged entrepreneurs in locations that are outside of the geographical areas of existing WBCs for the District of Columbia (DC) and the State of Oregon. There will be one award for each location. Eligible applicants must be private, non-profit organizations with 501(c) tax exempt status from the U.S. Treasury’s Internal Revenue Service and must provide services to the District of Columbia (DC) and State of Oregon. Funding Opportunity Number: SB-OEDWB-23-002. Assistance Listing: 59.043. Funding Instrument: G. Category: BC,CD,RD. Award Amount: $75K – $150K per award.
Small Business Innovation Research and Small Business Technology Transfer Programs Phase I is sponsored by U.S. Department of Agriculture (USDA) National Institute of Food and Agriculture (NIFA). The USDA SBIR/STTR programs support small businesses in creating innovative, disruptive technologies with commercial potential or societal benefit, including projects dealing with agriculturally-related manufacturing and alternative and renewable energy technologies. Specialty tubing could be relevant for agricultural equipment or renewable energy systems.