Open: NCIIA 14th Annual Conference

The last mile in the development of a new venture, moving from feasible concept to business, can result in the venture never starting. Entrepreneurs, especially those in rural communities, often lack access to the resources and expertise needed to harden the concept and convert it to an operating business. In 2009, the N2TEC Institute launched a unique summer accelerator program that included an AI2V intensive workshop and an eight-week period that addressed the critical knowledge, expertise, and resource issues of the participants by surrounding them with a team of mentors and experts. The result was the launch of five new businesses in South Dakota and one in Oregon. Participants were selected from a national call for technology entrepreneurs willing to move to Sioux Falls for the summer, receive a stipend of $15,000, and work aggressively toward the launch of their business.