Center for Innovation Named Finalist for International Award

March 12, 2009

NBIA.org - 3/012/2009

ATHENS, Ohio – The University of North Dakota’s Center for Innovation in Grand Forks, N.D., has been named a finalist for the National Business Incubation Association’s 2009 Incubator Innovation Award for its Angel Fund Network Development program. The winner of the prestigious award will be announced April 21 at NBIA’s 23rd International Conference on Business Incubation in Kansas City, Mo.

The Angel Fund Network Development program provides entrepreneurs across the state with access to capital through a statewide network of angel investment funds. Their Dakota Venture Fund is the only venture capital investment fund in the nation where students manage each step of the investment process.

Business incubation programs like the Center for Innovation catalyze the process of starting and growing companies by providing entrepreneurs with the expertise, networks and tools they need to make their ventures successful. NBIA estimates that in 2005 alone, North American incubators assisted more than 27,000 start-up companies that provided full-time employment for more than 100,000 workers and generated annual revenue of more than $17 billion. Approximately 5,000 business incubators operate worldwide.

The National Business Incubation Association is the world's leading organization advancing business incubation and entrepreneurship. Each year, the NBIA Incubation Awards honor the business incubation programs, graduates and client companies that exemplify the best of the industry.