The North Dakota Department of Commerce announced today that the Innovation Technology Loan Fund (LIFT) Committee awarded a total of $1.5 million to two companies for the month of March.
“The LIFT Committee continues to meet monthly to review applications and award funding,” Commerce Head of Investments and Innovation Shayden Akason said. “The innovation loan fund currently has over $6.5 million remaining to be awarded this biennium. Eligible companies may apply at business.nd.gov/lift/.”
March LIFT recipients include:
Be More Colorful, a virtual reality content management agency located in Fargo was awarded $500,000 to increase their content library. The agency offers a workforce development virtual reality solution that engages with multiple North Dakota K-12 school districts and career and technical education audiences.
TheraTec, a medical software company that specializes in musculoskeletal rehabilitation was awarded $1 million to setup a North Dakota office and hire locally.
Commerce works with the Bank of North Dakota to manage and administer the loan fund.
For more information, please visit business.nd.gov/lift/
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The North Dakota Department of Commerce works to improve the quality of life for North Dakota citizens by leading efforts to attract, retain and expand wealth. Commerce serves businesses and communities statewide through committed people and partners who offer valuable programs and dynamic services
For more North Dakota news and information, go to www.NDCommerce.com.
C O N T A C T:
Kayla Jo Finley | 701-516-3560
kjfinley@nd.gov
Kim Schmidt | 701-328-2532
ksschmidt@nd.gov