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New Innovate ND Business Competition Announced
Post Date: May 07 2014

The North Dakota Department of Commerce today announced the launch of the new Innovate ND business competition for entrepreneurs. The competition will be held May 30th starting at 9 a.m. at Great River Energy located at 1611 East Century Avenue in Bismarck.
“It is an exciting time to be an entrepreneur in North Dakota,” Jared Stober entrepreneurship program manager at the North Dakota Department of Commerce said. “This new Innovate ND business competition for entrepreneurs is designed to capitalize on previous successes and brand development efforts, and move to the next level in helping entrepreneurs grow their business.”
The competition has $21,000 available for this year’s participants. All prize money will be pooled, with $1,000 allocated for a one minute pitch competition, $5,000 allocated for an idea competition and $15,000 allocated for a venture competition.
The pitch competition will allow each participant one minute to present their business idea. A two-page executive summary will be required to enter the pitch competition.
The idea competition will provide an opportunity for startups to compete based on their business idea. This will also serve as a starting point for Innovate ND participants to gain feedback for their idea and serve as a launch pad to take their idea to the next level.
The venture competition is targeted toward businesses that are ready for venture capital or at an advanced stage. Innovate ND works with venture capital and angel investment firms to create potential opportunities to make a business deal during the competition. All submission for the competition must be made by May 23rd.
The Innovate ND program costs $250 and offers the opportunity to access up to $2,500 worth of services to help in the development of business ideas through access to multiple resources. For more information visit: www.InnovateND.com.
The Innovate ND business competition is part of an expanded program focused on fostering innovation and accelerating venture formation/growth in North Dakota. Since 2006, Innovate ND has served over 450 entrepreneurs, startups, and early-stage ventures by providing a comprehensive educational program and coaching through entrepreneurial centers to help entrepreneurs build new ventures.
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