The North Dakota Department of Commerce announced today that The Innovation Technology Loan Fund (LIFT) Committee awarded a total of $1.25 million to two companies for the month of January.
“LIFT was established to support the commercialization of intellectual property within North Dakota,” Commerce Head of Investments and Innovation Shayden Akason said. “Several industries are eligible for LIFT, and companies may qualify to receive funds after completing the two-step application process that can be found on Commerce’s website.”
January LIFT recipients include:
Corvent Medical, located in Fargo was awarded $1 million. The medical device company developed a ventilator capable of being used in various environments and during transport
TruWeather Solutions, located in Grand Forks, was awarded $250,000. The company is developing a weather platform for the unmanned aircraft systems (UAS) industry to offer weather forecasting with more local detail than what is currently accessible.
Commerce works with the Bank of North Dakota to manage and administer the loan fund.
For more information, please visit business.nd.gov/lift/