ATHENS, Ohio – The UND Center for Innovation of Grand Forks, N.D., has been named one of  two finalists for the National Business Incubation Association’s  (NBIA) 2011 Incubator Innovation Award for its Innovatively Increasing Access to Capitalprogram. The winner of the prestigious award will be announced April 12 at NBIA’s 25th International Conference on Business Incubation in San Jose, Calif.  The other finalist is Powerhouse Ventures in Canterbury, New Zealand. http://www.nbia.org/success_stories/awards/2011/index.php

The Innovatively Increasing Access to Capital program aims to improve access to capital for incubator clients and entrepreneurs throughout the state of North Dakota. The Center for Innovation has developed a unique menu of capital options for entrepreneurs, including the nation’s first fully student-run venture fund for early stage ventures, a statewide network of angel investment funds for growth companies, and a program to facilitate foreign direct investment in later-stage companies throughout the region.

The UND Center for Innovation was started in 1984 and was among the first entrepreneur outreach centers in the nation. In 1996, the Center opened the first tech incubator in the Upper Great Plains, and the Center for Innovation Foundation built the Ina Mae Rude Entrepreneur Center in 2005.  The Center for Innovation has received eight national and international awards for excellence in entrepreneurship, incubation, and tech-based economic development.  In 2010, the Center was certified as a “Soft Landing International Incubator” for the third time, one of just 19 incubators worldwide so designated for being well suited for international entrepreneurs.    www.Innovators.net

Entrepreneur programs like the Center for Innovation catalyze the process of starting and growing companies by providing entrepreneurs with the entrepreneur expertise, networks and tools they need to make their ventures successful. NBIA estimates that in 2005 alone, North American incubators assisted more than 27,000 start-up companies that provided full-time employment for more than 100,000 workers and generated annual revenue of more than $17 billion. Approximately 7,000 business incubators operate worldwide.

The National Business Incubation Association is the world's leading organization advancing business incubation and entrepreneurship. Each year, the NBIA Incubation Awards honor the business incubation programs, graduates and client companies that exemplify the best of the industry.

Contact:   Bruce Gjovig                                                         Linda Knopp
                  Director and Entrepreneur Coach                        Director of Policy Analysis and Research
                  UND Center for Innovation                                   National Business Incubation Association
                  (701) 777-3134                                                     (740) 593-4331
                  bruce@innovators.net                                          lknopp@nbia.org