March 16, 2009

(ATHENS, Ohio) – The UND Center for Innovation in Grand Forks, N.D., has been named one of two finalists for the National Business Incubation Association’s 2009 International Incubator Innovation Award for its Angel Fund Network program. The winner of the prestigious award will be announced April 21 at NBIA’s 23rd International Conference on Business Incubation in Kansas City, Mo.

The Angel Fund Network program provides entrepreneurs across the state with access to capital through a statewide network of nine angel investment funds. The angel funds started to be formed in 2006 and have grown to nine in two years.   Additionally, the Center for Innovation Foundation hosts the Dakota Venture Group that is the only venture capital fund in the nation where students manage each step of the investment process from beginning to end. www.DakotaVentureGroup.com

Business incubation programs like the Center for Innovation catalyze the process of starting and growing companies by providing entrepreneurs with the 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 5,000 business incubators operate worldwide.  The Center for Innovation  was founded in 1984 and developed the first tech incubator in the upper great plains states in 1996 on the UND Tech Park, and built the second incubator in the tech park in 2005. www.Innovators.net

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.