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In order to create a vibrant tech-based economy, various complementary elements must be present: intellectual infrastructure, mechanisms for knowledge transfer, infrastructure, highly skilled technical workforce, sources of risk capital, and an entrepreneurial culture. EDA’s University Center program provides technical assistance and research and development tools that universities need to increase productivity, spur innovation, and promote entrepreneurship to help increase long-term regional competitiveness and economic diversification.
Through its incubator near the North Dakota State University (NDSU) campus plus services offered through the University of North Dakota, the EDA University Center at North Dakota State University Research and Technology Park is assisting technology-based companies and entrepreneurs that require highly skilled talent by connecting them to university researchers, which provides a competitive advantage in marketplace. One of these companies, Myriad Devices, is a mobile app company started by NDSU professors and students. With assistance of the business mentors and education programs, the company was able to obtain the required resources and market direction it needed to succeed and has now grown to 17 employees.