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LIFT application now available online
Post Date: Nov 22 2019

The North Dakota Department of Commerce today announced  the application for the Innovation Technology Loan Fund (LIFT) is now available online at www.business.nd.gov/lift.
 
“The launch of the online application will streamline the process for individuals and businesses that are interested in applying for the loan program,” said Josh Teigen, head of investments and innovation at Commerce. “The fund is an excellent opportunity for North Dakota entrepreneurs to receive support from the state to aid in the commercialization of applied research and intellectual property.”
 
In order to apply for the LIFT, applicants must complete the application form and submit a pitch deck.
 
Commerce will review application packages to ensure legislative criteria is met. After approval and recommendation by the LIFT Committee, the applicant will work with the Bank of North Dakota to structure the loan and access the funds. 
 
The committee will place consideration on the following objectives:
  • Delivery of applied research, experimentation or operational testing in one or more of the diversification sectors to create information or data that enhances North Dakota companies or industries, or companies making investments in North Dakota.
  • Leads to the commercialization or patent of an innovation technology solution; or results in the development of a new company or expansion of an existing company that will diversify the state’s economy through new products, investment or skilled jobs.
LIFT guidelines were established by the 66th Legislature to support technology advancement for North Dakota businesses by utilizing research for the following industries: 
  • Advanced computing and data management
  • Agriculture technology
  • Autonomous and unmanned vehicles and related technologies
  • Energy
  • Health care
  • Value-added agriculture
  • Value-added energy
2020 Tourism Main Street Expansion Grant LIFT Applications Available