By Scout Nelson
The North Dakota Department of Commerce has officially opened applications for the Legacy Investment for Technology (LIFT) program on June 16. This program is designed to boost innovation and fuel economic growth across the state by supporting local businesses that are working on advanced technologies.
For the 2025-27 period, the LIFT fund has received a $10 million budget. According to Shayden Akason, Deputy Director of Economic Development, “Supporting North Dakota companies that are commercializing intellectual property continues to be a strong component of the state’s economic development.”
LIFT is a loan-based funding program that helps North Dakota companies commercialize intellectual property. It encourages businesses to increase their production capacity while also using funds from federal, state, or private sources when possible.
The LIFT fund is managed by the Department of Commerce in partnership with the Bank of North Dakota. Loan terms include 0% interest for the first three years, 2% for the next two, and standard bank interest rates for the years after that.
Eligible sectors include advanced computing, data management, agriculture technology, autonomous vehicles, health care, energy, value-added agriculture and energy, and other innovative industries that can diversify the state’s economy.
Since 2019, the LIFT committee has granted $44 million to 71 companies across the state. These investments have significantly helped advance local technologies and create job opportunities.
The current application window is open until July 25, 2025. Companies interested in applying can find more information, eligibility rules, and submission guidelines by visiting: https://belegendary.link/LIFT.
This program continues to play a vital role in developing a strong, technology-driven economy in North Dakota.
Photo Credit: gettyimages-d-keine
Categories: North Dakota, Business