LIFT Committee awards $1.25 million to two North Dakota companies – InForum
BISMARCK — The North Dakota Department of Commerce announced Tuesday (January 25th) that the Innovation Technology Loan Fund (LIFT) committee awarded a total of $1.25 million to two companies for the month of January.
“LIFT was created to support the commercialization of intellectual property in North Dakota,” said Shayden Akason, head of commerce investment and innovation. “Several industries are eligible for LIFT, and businesses may be eligible to receive funds after completing the two-step application process which can be found on Commerce’s website.”
January LIFT recipients include:
CorVent Medical, Fargo, received $1 million. The medical device company has developed a ventilator capable of being used in various environments and during transport.
The ventilator design and manufacturing company was founded at the start of the COVID-19 pandemic in 2020, with a team working remotely.
Earlier this month, the company announced that it is now based at North Dakota State University Research and Technology Park.
TruWeather Solutions, Grand Forks, received $250,000. The company is developing a weather platform for the unmanned aircraft system (UAS) industry to offer weather forecasts with more local detail than is currently accessible.
The commerce works with the Bank of North Dakota to manage and administer the loan fund.
For more information, please visit business.nd.gov/lift/