Giving Startups in Rural States the Tools they Need to Grow and Thrive
North Dakota is home to a growing and robust startup community that is turning our quiet prairie into a technological and innovative hub for entrepreneurs across the region.
When the head of the U.S. Small Business Administration joined me in North Dakota last summer, we were both blown away by the sheer talent and dedication of the state’s entrepreneurs in a variety of fields — from web and app design to health care technology and more.
But too often, we heard the same challenges from startups and small businesses that they are trying to fit a square peg into a round hole — meaning they run into the barrier of not being able to qualify for support because they were asking for too little funding.
We can’t let these innovators slip through the cracks — which is why I introduced my SEED Act that would help startups in North Dakota and other rural states get the early stage funding they need to grow their businesses.
My SEED Act — the Startup Entrepreneur Empowerment Delivery Act — would create a federal pilot program granting up to $120,000 in federal funds to ten small cities across the country which would be awarded to startups in the community.
I’m grateful to have the support of North Dakota leaders and entrepreneurs for this bill who know firsthand the challenges of getting businesses off the ground.
Jake Joraanstad, CEO of Myriad Mobile and co-founder of Emerging Prairie in Fargo started his company while still going to school at North Dakota State University. Without the financial, family, or part-time job obligations many other entrepreneurs have, Jake was able to fully commit to his new business — a luxury he acknowledges not many others have.
“Startups in the Fargo community often need a small amount of funding to offset their financial obligations so they can develop and market their products, hire workers, and grow their business. That’s why Senator Heitkamp’s SEED Act is so needed — by providing the small seed funding investments to cities, we can encourage innovators to start and grow their businesses locally — creating new startup hubs in cities like Fargo and in states like North Dakota.” — Jake Joraanstad
Nick Jensen, owner of Commercial Event Services in Grand Forks, sees the potential startups have to make an impact on communities across the state, but he also knows there’s a need for improved access to capitol funding to get businesses up and running.
“With [Senator Heitkamp’s] SEED Act, startups in small cities like Grand Forks would get the boost they need to grow stronger faster. In my case, it would mean no longer having to turn down good contracts because I can’t hire the people I need.” — Nick Jensen
CEO and founder of EarthKind in Bismarck, Kari Warberg-Block knows firsthand that early stage funding, or seed funding, at the right time can mean the difference between a startup withering or blossoming.
“By connecting small rural innovators with the right resources, Senator Heitkamp’s SEED Act would help hardworking startups like mine jumpstart their businesses, and help local towns invest in their rural talent to keep our communities creative and strong.” — Kari Warberg-Block
When Elinor Specialty Coatings CEO Holly Anderson-Battocchi and her husband and co-founder, Dante, were starting, they faced the same obstacles as other startups in North Dakota — they needed too small amounts of funds to compete with larger startups. The SEED Act would give more startups in rural states access to small capital funding to develop, market, and grow.
Between 1 Million Cups — Fargo has the largest in the nation — Emerging Prairie, Prairie Den, and more, it’s no secret that North Dakota’s startup community is growing.
