Center for Innovation Foundation - Nonprofit Profile - Impact Foundation

Mission

The Center for Innovation's vision and mission is to maintain national leadership in entrepreneur outreach and education, and become the leader in tech entrepreneurship in rural America.

Background

The Center for Innovation’s three primary focus areas include Innovation, Entrepreneurship, and Entrepreneur Financing.

The Center has received five (5) National Awards for Excellence in innovation & entrepreneurship. It is nationally ranked #8 on the Princeton Review and Entrepreneur magazine's "Best Schools for Entrepreneurs" listing out of 700 entrepreneur programs nationwide. UND's ranking of #8 is ahead of Stanford, George Tech, and University of Illinois Champaign-Urbana.

The Center has been designated a "Soft Landing International Incubator", one of only eight in the world by the National Business Incubator Association (NBIA). The Center received this recognition because it has proven itself as a business incubator that helps companies expand internationally.

The Center manages two tech incubators in the UND Tech Park, provides SBIR outreach to the state's tech community, and has formed three angel networks in Grand Forks, Fargo and Bismarck. It is also home to the only student managed venture fund in the nation where students make the actual investment decisions, Dakota Venture Group - www.DakotaVentureGroup.com.

The $4.2 M Ina Mae Rude Entrepreneur Center was the first North Dakota Center for Excellence in Economic Development, providing increased opportunities for the state’s entrepreneurs. Diving board entrepreneur Ray Rude provided a $1.75 M gift to construct the incubator, and aerospace entrepreneur James Ray provided $500,000 to construct and furnish the Idea Lab and to develop the entrepreneur community.

UND was the first in the Great Plains to host a tech incubator with the building of the $4 M Skalicky Tech Incubator in 1996 in the UND Tech Park. We are one of just 200 universities nationwide with a tech incubator. UND is of one of less than 20 campus to host two tech incubators.

The Center has achieved 22 years of self-sufficiency securing $25.3 M in entrepreneur infrastructure, services, outreach and endowments (very rare in economic development). In the spirit of entrepreneurship, the Center pays its own way through fees for services, contracts, incubator rents and grants from foundations, entrepreneurs and government sources.

Over 160 UND students are enrolled in entrepreneur classes including 47 entrepreneur majors, making Entrepreneurship the fastest growing major on campus.

Our goals are to:

-Grow entrepreneur ventures
-Foster Innovation
-Secure access to entrepreneur capital
-Provide superb entrepreneur infrastructure
-Provide world-class entrepreneur education with the UND Entrepreneur Program

Organization Info

Executive Director: Bruce Gjovig
Staff: 6 part-time
5 full-time
Volunteers: 36
Board Members and Affiliations: 8 Entrepreneurs who have
Year Formed: 1984
Counties Served: Becker, MN

Clay, MN

Clearwater, MN

Hubbard, MN

Mahnomen, MN

Norman, MN

Otter Tail, MN

Pennington, MN

Polk, MN

Red Lake, MN

Wadena, MN

Adams, ND

Barnes, ND

Benson, ND

Billings, ND

Bottineau, ND

Bowman, ND

Burke, ND

Burleigh, ND

Cass, ND

Cavalier, ND

Dickey, ND

Divide, ND

Dunn, ND

Eddy, ND

Emmons, ND

Foster, ND

Golden Valley, ND

Grand Forks, ND

Grant, ND

Griggs, ND

Hettinger, ND

Kidder, ND

LaMoure, ND

Logan, ND

McHenry, ND

McIntosh, ND

McKenzie, ND

McLean, ND

Mercer, ND

Morton, ND

Mountrail, ND

Nelson, ND

Oliver, ND

Pembina, ND

Pierce, ND

Ramsey, ND

Ransom, ND

Renville, ND

Richland, ND

Rolette, ND

Sargent, ND

Sheridan, ND

Sioux, ND

Slope, ND

Stark, ND

Steele, ND

Stutsman, ND

Towner, ND

Traill, ND

Walsh, ND

Ward, ND

Wells, ND

Williams, ND
Meeting Frequency: Annually
Tax-Exempt Organization Type: 501(c)3

Financial Info

Organization Files Form 990: No
Top Three Funding Sources: Client Fees and ServicesEndowment IncomeOperating Grants
Last Financial Audit: 2005,2006 done by Aug 15, 2007

Contact Info

Street Address: Ina Mae Rude Entrepreneur Center 4200 James Ray Drive
Grand Forks, ND 58203
Phone: 701-777-3132
Fax: 701-777-2339; Email | Website; Join our mailing list

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Board Members

Bart Holaday, Chairman of the Board. Retired from Brinson Partners Venture Capital, Chicago and is President of the Dakota Foundation, Placitas New Mexico. He has been an advisor to the Center for Innovation Foundation for 20 years. Is also a trustee of the UND Foundation and Jamestown College.

Howard Dahl, Vice Chair. President and founder of Amity Technology and Concord Manufacturing, Fargo. He is a 1997 recipient of the North Dakota Business Innovator of the Year Award - chair of Foundation investment committee. He is also President of the UND Foundation.

James Ray, Treasurer. President of the Aerospace Capital Group and President of the Ray Foundation, Naples, Florida.

Randy Newman, Trustee. Chair, CEO of Alerus Financial of Grand Forks and Fargo, and Chair of Federal Home Loan Board of Des Moines, IA. Randy is chair of the Center for Innovation Advisory Board.

Jerry Van Eeckhout, Trustee. Founder, Chairman and CEO of ACT Teleconferencing, Inc from 1990 until 2003 when he became Chairman Emeritus. Jerry was inducted into the North Dakota Entrepreneur Hall of Fame in 1998. Lives in Evergreen, Colorado.

Russell Brown, Trustee. Retired President and CEO of AGSCO of Grand Forks now living in Mesa, Arizona. Brown is a 1995 recipient of the North Dakota Business Innovator of the Year, and is the past chairman of the Center for Innovation Advisory Board. He also served as Chairman of the Foundation from 2001 to 2004.

Bill Ness Trustee. Retired CEO and Chairman of Arctic Cat of Thief River Falls, Minnesota. Lives in Hudson, Wisconsin.

Fran Jabara, Emeritus. President of Jabara Ventures Group, Wichita, Kansas and Founding Director of the Center for Entrepreneur Ventures at Wichita State University.