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Innovate North Dakota incubates ideas

October 3, 2008 /

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Scott Ault had an idea in 2007 for a device to improve traffic safety by illuminating a truck’s brake lights based on deceleration instead of braking.

The Reynolds, N.D., man didn’t have a product or business plan until he enrolled in Innovate ND, a statewide effort to help entrepreneurs turn business ideas into viable ventures.

by Tracy Frank

Innovate ND http://www.innovatend.com/ is a competitive program that awards cash prizes. Entrants participate in online education, business planning and mentoring from proven business owners.

Ault was one of five 2008 winners. His company, Deceleration Technologies, plans to release the Slow-N-Tell device later this year.

“What it was for us was someplace to go to bring our ideas to take three guys who had very limited business experience and turn us into true entrepreneurs,” he said of Innovate ND.

Shane Goettle, North Dakota commerce commissioner, and William C. Marcil, Forum Communications Co. chairman and chief executive officer, launched the third round of Innovate ND on Wednesday.

Forum Communications has signed on as the lead sponsor for Innovate ND.

“It was clear from the start that in order to develop a stronger economy in the state, we needed a cooperative effort between higher education, the state and the private sector,” Marcil said.

Innovate ND is organized by the North Dakota Department of Commerce, the University of North Dakota Center for Innovation and North Dakota State University Research and Technology Park.

Innovate ND started in 2006. So far, 155 teams involving 298 individuals have participated. Forty new businesses that participated in the program are in operation or development in North Dakota.

“This is a program that takes entrepreneurs with great ideas and brings them up to a point where they’re able to pitch those ideas,” Goettle said.

Anyone willing to locate a business in North Dakota is eligible. It costs $100 per team.

The top 20 entrants pitch ideas to a panel of investors. Up to five $10,000 prizes are awarded. Entrants can enroll through Nov. 21 at http://www.innovatend.com

Readers can reach Forum reporter Tracy Frank at (701) 241-5526

http://www.in-forum.com/articles/index.cfm?id=216796&section=business