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South Dakota Funding Support Technology, Entrepreneurs and Start-up Businesses

Tuesday, November 19, 2013

The Governor’s Office of Economic Development was awarded $92,500 from the Small Business Administration (SBA) FAST program to support entrepreneurs and businesses accepted into the South Dakota Technology Business Center’s Accelerator program. 

“Technology businesses often need to test a prototype or have their product certified before they can obtain funding or begin selling their product. The SBA FAST funding is intended to help meet these needs for entrepreneurs and businesses committed to launching and growing their business,” said Mel Ustad, director of commercialization at the Governor’s Office of Economic Development and project director. 

The six-month program provides entrepreneurs and early-stage businesses with the resources needed to develop their business model and address challenges.  The goal is to enable entrepreneurs and businesses to successfully launch their technology business or accelerate growth. The program provides education, mentoring and limited financial support when appropriate to address business challenges. 

The next accelerator program will begin in January and applications are currently being accepted. There is no cost to entrepreneurs or businesses for applying or participating in the accelerator program.   Participants are encouraged to take part in the Governor’s Giant Vision Business Plan competition in 2014 and may also apply for the GOED “Proof of Concept” program to potentially finance business or product development. 

For more information, go to the following websites:

www.sdtbc.com/accelerator/     
South Dakota Technology Business website (application for technology business accelerator program can be found here)

http://www.sdreadytowork.com/Financing-and-Incentives--Proof-of-Concept-Application.aspx     
Governor’s Office of Economic Development Proof of Concept application

www.southdakotagiantvision.com
South Dakota Giant Vision competition

Media Contact

Members of the media requesting more information should contact Mary Lehecka Nelson at mary.leheckanelson@state.sd.us or (605) 773-3301.