Bruce Gjovig, Director and Entrepreneur Coach for the Center for Innovation at UND provided a presentation on the work of the center during the conference Create, Challenge, Change: Economic Development Conference for the Denver Region. This presentation occurred during the opening plenary "Innovations from Around the Region."

1. Create · Challenge · Change
EDA Conference – Denver Region
UND Center for Innovation Cluster Grant for Seed Funds
August 1, 2016

2. • North Dakota is experiencing a shrinking
economy for the first time in a decade
– Prices down for agriculture, energy, and Canadian
dollar
• Need for continued Industry Diversification
UAS Biotech Data

3. • Fiscal agent and advisor for Grand Sky
– Nation’s first UAS Tech park
• UND is world leader in aerospace education
– 1st with UAS major in 2009
• Great Plains Chapter of AUVSI
• Bioscience Association of North Dakota
• Data Center Cluster
• Dakota Venture Group
– Nation’s 1st Fully Student Run Angel Fund

4. EDA Cluster Grant for Seed Funds
Expand Angel Funds for the Region

5. EDA Cluster Grant for Seed Funds
1) Support Statewide Network of 11 Angel Funds
2) Strengthen Angel Groups and Strategic Partners
(Minnesota)
(North Dakota)
(Manitoba)(Montana)

6. EDA Cluster Grant for Seed Funds
Enhancing Deal Flow for Funds

7. EDA Cluster Grant for Seed Funds
Industry Clusters Amount Invested Jobs Created/Sustained
Bio-Tech (2 companies) $190,000 21
Medical Device (2 companies) $100,000 19
UAS Software $50,000 14
Healthcare IT $50,000 8
Ag-Software $50,000 7
Total: 7 companies $440,000 invested 69 jobs
Venture Investments from Funds into Industry Clusters

8. EDA Cluster Grant for Seed Funds
Industry Clusters Amount Raised
UAS (2 companies) $3,306,000
Ag-Technology (1 company) $200,000
Food & Beverage (1 company) $86,000
Total: 4 companies $3,592,000 raised
Technical Assistance to Companies seeking Private Capital
20 out of 75 companies received in-depth technical assistance, 4
secured outside funding from various investors to date

9. Moving Forward
Sustainability Model
New Seed Funds
Crowdfunding Models
Portfolio Exits
Technical Assistance