SMALL BUSINESS INNOVATION RESEARCH (SBIR)

The Small Business Innovation Research (SBIR) program is a highly competitive program that encourages domestic small businesses to engage in Federal Research/Research and Development (R/R&D) that has the potential for commercialization. Through a competitive awards-based program, SBIR enables small businesses to explore their technological potential and provides the incentive to profit from its commercialization. By including qualified small businesses in the nation's R&D arena, high-tech innovation is stimulated and the United States gains entrepreneurial spirit as it meets its specific research and development needs.

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SMALL BUSINESS TECHNOLOGY TRANSFER (STTR)

Small Business Technology Transfer (STTR) is another program that expands funding opportunities in the federal innovation research and development (R&D) arena. Central to the program is expansion of the public/private sector partnership to include the joint venture opportunities for small businesses and nonprofit research institutions. The unique feature of the STTR program is the requirement for the small business to formally collaborate with a research institution in Phase I and Phase II. STTR's most important role is to bridge the gap between performance of basic science and commercialization of resulting innovations.

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NATIONAL SCIENCE FOUNDATION (NSF)

The National Science Foundation funds research and education in most fields of science and engineering. It does this through grants, and cooperative agreements to more than 2,000 colleges, universities, K-12 school systems, businesses, informal science organizations and other research organizations throughout the United States. The Foundation accounts for about one-fourth of federal support to academic institutions for basic research.

NSF receives approximately 40,000 proposals each year for research, education and training projects, of which approximately 11,000 are funded. In addition, the Foundation receives several thousand applications for graduate and postdoctoral fellowships.

The agency operates no laboratories itself but does support National Research Centers, user facilities, certain oceanographic vessels and Antarctic research stations. The Foundation also supports cooperative research between universities and industry, US participation in international scientific and engineering efforts, and educational activities at every academic level.

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UNITED STATES DEPARTMENT OF AGRICULTURE (USDA)

USDA Rural Development is committed to helping improve the economy and quality of life in rural America. USDA offers loans, grants and loan guarantees to support essential services such as housing, economic development, health care, first responder services and equipment, and water, electric and communications infrastructure. The organization promotes economic development by supporting loans to businesses through banks, credit unions and community-managed lending pools. We offer technical assistance and information to help agricultural producers and cooperatives get started and improve the effectiveness of their operations.

USDA Rural Development has a $206.2 billion portfolio of loans. We will administer $38 billion in loans, loan guarantees and grants through our programs in the current fiscal year.

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GOED PROOF OF CONCEPT FUND
(South Dakota Governor's Office of Economic Development)

Provides up to $25,000 to conduct research demonstrating the technical and economic feasibility of an innovation.

  • Eligible applicants include: entrepreneurs, universities, existing South Dakota companies, or other entities committed to commercializing the results in South Dakota
  • Requires a matching cash or in-kind investment of at least 10% of the total cost
  • Investment proceeds may be used to pay consultant contracts, materials and supplies, salaries for employees in South Dakota, and necessary services for technical feasibility or marketing studies
  • 86 POC awards have been made with more than 50 percent for Bioscience projects.

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GOED DAKOTA SEEDS
(South Dakota Governor's Office of Economic Development)

Addressing South Dakota's Workforce Needs

Dakota Seeds is an innovative internship program that connects students with employers as a way to help fill temporary workforce needs and establish a pipeline for future permanent employment. Qualifying businesses can receive matching funds up to $2,000 per intern for internships in the Science, Technology, Engineering and Math (STEM) fields, as well as in manufacturing and accounting.

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ENTERPRISE INSTITUTE

The Enterprise Institute is a private, non-profit corporation that provides customized business development, commercialization, and market research services to entrepreneurs, investors, and startup companies in South Dakota.

Our mission is to assist South Dakota's emerging growth entrepreneurs. 

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EDA i6 CHALLENGE GRANT
US Department of Commerce Economic Development Administration i6 Challenge Grant (South Dakota Bioscience Commercialization Alliance)

This EDA investment will fund the creation of the Center for Innovation and Entrepreneurship, a proof of concept program to efficiently evaluate and move bioscience innovations to market and develop the skilled workforce needed to commercially manufacture products currently in clinical trials, recently approved, and at earlier technology readiness levels. In addition, the project will bring together key partners to create the South Dakota Bioscience Commercialization Alliance, a public-private partnership involving the Governor's Office of Economic Development, bioscience association and industry partners, South Dakota universities, health care organizations, and private equity investors to support the Center. These efforts will impact the region through next gen entrepreneurs, jobs created and retained, SBIR/STTR proposals submitted, and workforce training.

CONTACT goedinfo@state.sd.us, 605.773.4633

INNOVATION PARTNERS STUDENT VENTURES PROGRAM

If you have a big idea, Innovative Partners invites you to compete for up to $30,000 in investment capital and business development support to start-up your research or technology-based business.

Students from universities around the country are eligible to compete individually or as a team in the First Dakota National Bank "Student Ventures Program" in the first quarter of each year. Teams may consist of university graduate and undergraduate students, faculty members, industry professionals, and others.

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SOUTH DAKOTA EQUITY PARTNERS

The Governor's Office of Economic Development works closely with South Dakota Equity Partners, a private equity investment fund that targets early and growth-stage companies that need capital to support entry into the market, expansion and development plans in South Dakota.

Governor Daugaard committed up to $15 million in matching funds to create $30 million equity investment fund.