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, and exhausted the fund balance this biennium.
“We thank the LIFT Committee members for their service on the committee as well as the LIFT awardees for their contribution to the North Dakota economy,” Commerce Head of Investments and Innovation Shayden Akason said. “Since the program’s inception, we have awarded over $32 million to 38 companies, which include both North Dakota companies as well as companies outside of North Dakota which have shown a commitment to establishing operations in the state. Commerce is advocating for an additional appropriation from the legislature for the 2023-25 biennium. If funds are appropriated, Commerce will open the LIFT application portal in June 2023.”
January LIFT recipients include:
Fenworks, a Grand Forks business offering a software platform to host esports for K-12 schools was awarded $500,000.
FlowCore Systems, a Williston-based chemical injection automation company with precise fluid measurement technology for the oil and gas industry was awarded $750,000.
For more information, please visit belegendary.link/LIFT.