Here are two programs available to South Dakota founders and researchers. Both help you turn a technology into a business without giving up equity. If you're not sure which one fits, email us and we'll sort it out.
South Dakota Biotech FAST Launch
FAST Launch is run by South Dakota Biotech, the state recipient of the U.S. Small Business Administration's Federal and State Technology Partnership (FAST) Program. It's built first for tech entrepreneurs going after SBIR or STTR funding, including grad students, undergrads, postdocs, and faculty. Any South Dakota tech startup is welcome.
It works like a ladder:
- Training first. NSF I-Corps or comparable training is the prerequisite. New this year, South Dakota Biotech offers self-paced Lab to Market training through Continuum, covering tech commercialization, business planning, grant writing, and SBIR/STTR.
- A business plan. Show what you'll do with the money, with a real budget and a customer discovery report.
- An award of up to $10,000. Non-dilutive funding for business plan implementation. This cycle there are up to nine awards of about $10,000 each, paid 80% up front and 20% after your final report.
Thel Consulting is the FAST Launch business coach. One-on-one consulting with Tung is optional and free to you because South Dakota Biotech covers it. Continuum is the foundation, and our time together builds on it: do the modules, then bring me sharper questions. Thel Consulting also holds office hours on the first Friday of each month over lunch.
Get started: complete the FAST Launch intake form at sdbio.org. To work with me directly, email tnguyen@thelconsulting.com.
USD Tech2Launch
Tech2Launch (T2L) is a University of South Dakota program, run through its Office of Research and Sponsored Programs, for tech-based ventures connected to USD. It provides up to $5,000 per client, on a reimbursement basis, for approved business services from a preapproved vendor list. Those services include business consulting, accounting and bookkeeping, business and IP legal work, HR, marketing, design and branding, and business insurance. The point is to take administrative work off your plate so you can focus on the technology.
You're eligible if you:
- Are USD faculty, staff, a current student, or a recent graduate
- Have a South Dakota business, or plan to register one
- Are developing a technology-based product or service
- Have completed regional NSF I-Corps training
The program runs three months. Plan on at least three hours a week, plus monthly updates and a final report. There's no application fee, and you don't need to be incorporated yet.
Apply: submit the online application on the USD Tech2Launch page with your applicant information, a customer discovery report, and an executive summary. Questions go to T2L@usd.edu. Haven't done I-Corps yet? Start with USD I-Corps.