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The economy of the Peace Garden State is one of the most eclectic and diverse in the country. The oil and gas industry is perhaps its largest portion, making up nearly a quarter or yearly profits. Close behind are agriculture and farming markets, followed by education, finance, and transportation. Although more than 90% of North Dakota is farmland, many other industries find their place in the state’s cities. Professional business services have reached $3.3 billion per year in revenue, with growth expected for IT, retail, and real estate industries. For startups and small businesses considering an expansion to North Dakota, there’s no better time to start than now.
If your company is just finding its feet in the marketplace and has a physical presence in North Dakota, it would be wise to get involved with a local accelerator or incubator in your area.
This accelerator provides client networking, coaching, and venture capital services. Any startup located near Fargo is welcome to apply for membership.
The University of North Dakota welcomes startups of all industries to join its incubation program. Businesses can enjoy plenty of coaching opportunities, funding sources, and leased office spaces. Startups in need of new hires are also given access to UND’s student interns.
Located in Grand Forks, GSBP is the nation’s first and only commercial UAS business and aviation park. This program is specifically interested in startups within the unmanned aerial systems industry. Successful applicants enjoy 1.2 million square feet of office space, hangar storage, and prototyping labs.
LADG maintains a strong focus on the Lake Agassiz community. A variety of resources, including microloans and RMAPS, are provided by on-site officials. Startups and small businesses must be located in the Lake Agassiz area to apply.
Michael Seibel CEO at Y Combinator
Jason Ovryn Co-founder & COO at Carry