North Dakota is making waves with its latest investment in tech innovation, awarding over a million dollars to four promising companies through the Legacy Investment for Technology (LIFT) program. The full news release from the Department of Commerce follows below, it’s notable for where these investments are being made.
The North Dakota Department of Commerce announces the Legacy Investment for Technology (LIFT) program’s One-Time Funding Round awards $1,044,000 to four companies in December.
- CorVent Medical (Fargo, ND) is the only U.S. owned and operated designer and manufacturer of mechanical ventilators. Awarded $296,500.
- Dynon Avionics (Fargo, ND) designs and manufactures avionics systems for small aircraft. They are headquartered in Woodinville, WA and recently opened an engineering office in Fargo. Awarded $296,500.
- Project Phoenix (Fargo, ND) offers a cutting-edge software platform that automates the creation of secure and efficient Application Programming Interfaces (APIs), simplifying data management for businesses across a variety of industries. Awarded $100,000.
- Valor Victoria (West Fargo, ND) is a woman-owned service business in the intermodal rail services industry developing a platform that will create a user-friendly interface that allows customers to track their container movement in real time. Awarded $351,000.
“The LIFT program is a vital resource for fostering innovation and supporting North Dakota’s growing tech and manufacturing sectors,” said Commerce Head of Investments Shayden Akason. “This round of funding highlights our commitment to empowering businesses that drive economic diversification and create lasting impact across the state."
LIFT is an innovation loan fund that supports technology advancement by providing financing for commercialization of intellectual property within the state of North Dakota. The loan funds are available to enhance capacity and to extent possible, leverage state, federal and private sources of funding.
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, 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 more information, application guidelines and program details, visit
