Bismarck, North Dakota, is fostering a vibrant entrepreneurial ecosystem through a variety of programs and resources designed to support local innovators and startups. These initiatives aim to diversify the economy, create jobs, and encourage innovation within the community.
Innovate ND: A Launchpad for Startups
The North Dakota Department of Commerce has relaunched Innovate ND, a voucher-based reimbursement program offering up to $50,000 to help entrepreneurs validate their business ideas and accelerate growth. The program is divided into two six-month phases, each providing up to $25,000 in reimbursements. Participants must complete both phases within 12 months. Innovate ND focuses on educating participants in lean startup principles, customer identification, and product validation, aiming to foster scalable, high-impact businesses that can diversify and strengthen North Dakota’s economy. For more information and application guidelines, visit the North Dakota Department of Commerce’s website.
Local Incentives and Support Programs
The City of Bismarck offers several incentives to encourage business development:
- Renaissance Zone Program: Provides property and state income tax exemptions for qualified capital investments within the designated Renaissance Zone area.
- Vision Fund: Assists businesses looking to expand or locate in the Bismarck region by encouraging job creation, expanding the tax base, and improving the entrepreneurial climate.
Additional programs include the Lewis and Clark Regional Development Council’s SBA 504 Program and North Dakota Opportunity Fund, as well as the Bank of North Dakota’s PACE and Flex PACE programs, which assist primary and non-primary sector businesses, respectively. More details about these programs are available on the City of Bismarck’s official website.
Center for Innovation at the University of North Dakota
While located in Grand Forks, the Center for Innovation at the University of North Dakota serves entrepreneurs across the state, including those in Bismarck. Established in 1984, the center provides assistance to innovators, entrepreneurs, and researchers to launch new ventures, commercialize new technologies, and secure access to capital. The center manages two tech incubators, offers Small Business Innovation Research (SBIR) outreach, and has formed three angel networks in Grand Forks, Fargo, and Bismarck. To learn more, visit the Center for Innovation’s website.
Manufacturing Growth in Bismarck-Mandan
Manufacturing is a vital industry in North Dakota, with Bismarck-Mandan emerging as a growing hub. The region supports various sectors, including agriculture, food and beverage, energy, and equipment manufacturing. Over 24,000 residents work in manufacturing statewide, accounting for approximately 5.87% of the total workforce. The Bismarck-Mandan Chamber Economic Development Corporation (EDC) offers support to new and expanding companies, including site selection assistance, help applying for loans and grants, and workforce assistance. More information can be found on the Bismarck-Mandan EDC’s website.
By leveraging these resources and programs, Bismarck’s entrepreneurs have access to the support needed to transform innovative ideas into successful businesses, contributing to the region’s economic growth and diversification.