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A bureau within the U.S. Department of Commerce
Funding Opportunities Background

Office of Innovation and
Entrepreneurship (OIE)

University of North Dakota


Grand Forks, North Dakota

Project Name

Cluster Grants for Seed Funds in North Dakota


Seed Fund Support Grant (formerly known as Cluster Grants for Seed Capital Funds)

Award Amount


Matching Amount


The University of North Dakota (UND) Center for Innovation will facilitate venture growth in portfolio companies and generate exits for the companies which show the best potential to exit during a 24-month initiative.  The project will be comprised of four primary elements:

  • the provision of technical assistance to entrepreneurs to prepare current portfolio companies for exits and to new companies to prepare to approach angel funds;
  • the expansion of an angel fund network by developing new angel funds to serve the UAS, data and bio industry clusters and regions within the state that are not yet served by angel funds;
  • the improvement of the network of funds with increased technical assistance to the angel funds; and
  • the development of a model for sustainability of technical assistance services to entrepreneurs and angel investment funds.

UND will strengthen the network of nine angel funds that have been established in eastern North Dakota and will increase the contact with individuals in the central and western areas of the state who have expressed interest in investing, laying the groundwork for launching new angel and seed funds that will extend the angel fund network statewide.  UND will use EDA funds to enable several staff members to devote larger percentages of their time to the success of the angel funds, strengthening the network, and deepening the communication on the various aspects of angel investing including deal flow, due diligence, term negotiations, portfolio management, follow on funding, and planning for exits.