Teamwork is what small business is all about.
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The more effective you are at bringing people together for the purpose of working toward a common goal, the more successful you will be in achieving your goals and objective for your company.
North Dakota is proud of its reputation for teamwork. Its neighbor-helping-neighbor philosophy has always been an integral part of life of the prairie. So it seems fitting that North Dakota has undertaken an initiative to develop entrepreneur centers as a way to bring business leaders, developers, lenders and other community stakeholders together for the purpose of promoting small business growth and profitability.
North Dakota entrepreneur centers provide connections and services for small business owners and aspiring entrepreneurs. In addition to giving their members streamlined financing and funding access, North Dakota entrepreneur centers offer counseling, technology, training, and business related materials designed to assist start-up and expanding businesses.
To fund their growing network of entrepreneur centers, North Dakota provides a grant program that is funded to the tune of $1 million per year. Specifically, North Dakota's Technology-based Entrepreneurship grant program is designed to grow technology-based entrepreneurs through their entrepreneur centers.
Entrepreneur Center Certifications
An entrepreneur center provides business incubator services such as mentors, shared services, relationships with educational institutions, marketing assistance, accounting/financial management, training, and regulatory compliance. Before you can apply for a North Dakota technology-based entrepreneurship grant, you first need to form an entrepreneur center and have it certified by the state. Although certification doesn't guarantee funding, it does qualify your center for several grant opportunities including Technology-based Entrepreneurship grants, the New Venture Capital program and other sources of funding.
Grant Focus & Funding Parameters
North Dakota's entrepreneur center grants target ways that entrepreneur centers can help small business owners including access to capital, marketing assistance, entrepreneur infrastructure and entrepreneurial talent. Even though small businesses may not necessarily receive direct funding from entrepreneur centers, these grants are often used to provide services that small businesses would otherwise be forced to buy directly on the open market.