The North Dakota Department of Commerce Legacy Investment for Technology Loan Fund (LIFT) Committee announced today it awarded a total of $400,000 in funding in February.
“Now is a good time to apply to the LIFT fund” said Shayden Akason, Head of Investments and Innovation at Commerce. “There remains approximately $4.45 million to be awarded this biennium and the review timeline for new applications is shorter than in the recent past."
February LIFT recipient:
- Chipp - $400,000 awarded to this software AI startup in Fargo that makes it easy to build a custom ChatGPT for your business to generate leads, integrate AI workflows, and launch new product offerings.
Commerce works with the Bank of North Dakota to manage and administer the loan fund. LIFT loan terms include 0% interest for the first three years of the loan, and 2% interest for the next two years, and an interest rate equal to a standard Bank of North Dakota loan for all subsequent years.
The program is open to North Dakota companies working in advanced computing and data management, agriculture technology, autonomous and unmanned vehicles and technologies, energy, health care, value-added agriculture, value-added energy, and any area specifically identified by the LIFT committee as contributing to the diversification of the state’s economy.
For grant program details, visit https://belegendary.link/LIFT.