SDSU's Innovate SoDak earns additional funding from EDA

South Dakota State University's Innovate SoDak—a product of the United States Economic Development Administration’s University Center program—has received an additional five-year, $145,000 per year grant from the program to continue serving industry clients and supporting economic growth in the state. 

“The Economic Development Administration (EDA) is dedicated to boosting regional economies through place-based, locally led strategies,” said Alejandra Castillo, U.S. assistant secretary of commerce for economic development. “EDA is pleased to support the institutions designated or redesignated as university centers as they help us invest in America’s future and grow opportunities to increase equity in American research institutions. Their existing university resources will be bolstered to build regional economic ecosystems that support resiliency and inclusiveness.” 

Leading SDSU’s Innovate SoDak are Stephen Gent, a professor of mechanical engineering and director of the North Central Regional Sun Grant Center, and Rajesh Kavasseri, associate dean for research in the Jerome J. Lohr College of Engineering.

Innovate SoDak has an overarching mission of strengthening South Dakota’s economy by leveraging university resources to support regional industries. It began in 2018 with initial funding from the EDA. Since its inception, the center has five goals: 

• Support regional commercialization.
• Develop a highly skilled regional workforce.
• Advance high-growth entrepreneurship.
• Cultivate innovation.
• Promote business expansion efforts in environmentally sustainable energy and precision agriculture technologies in South Dakota. 

With additional funding from the EDA, Innovate SoDak will continue to work in collaboration with the Research Park at SDSU and the Brookings Economic Development Corporation. The project is also expected to engage both graduate and undergraduate students.

"The center will build upon its successes during the first five years of operation by leveraging university assets, including personnel expertise, specialized technical equipment and modern cutting-edge facilities," Gent said. "This effort will advance entrepreneurship and foster innovation in emergent technologies to enhance regional economic growth and commercialization efforts in agriculture, manufacturing, health care and service industries."

Further, the team has taken a regional approach to assisting founders and serial entrepreneurs by providing access to local and university engineers, design teams and financial partners. 

"This lends to the ability to nurture regional ecosystems through science, technology, engineering and math skill development," Gent said. "It will foster workforce training through internships, apprenticeships and collaborative efforts that encourage sharing of entrepreneurial assets and needs."

Additional funding from the EDA will allow the center to build public-private partnerships in sectors important to South Dakota. 

"We will establish new and expand upon existing partnerships with industry and host networking events," Gent said. "The events will allow the team to reach those who have strong interest in starting a business, expanding a business or vetting an idea."

Innovate SoDak will continue to address clients’ technical challenges while also assisting entrepreneurs with commercialization plans, business development and market assessments. The center will also play a role in workforce development.

"We will assist South Dakota communities in identifying, defining and building a strong talent pool," Gent said. "The project team will work with technical schools to offer certificate programs, worker retention and other workforce development efforts."

Finally, the center will continue to share discoveries, findings and success stories. Innovate SoDak is expected to have multiple economic impacts and benefits on the state and region, including the creation of new employment opportunities, assisting in economically distressed areas, promoting capital investment in businesses and fostering the innovation ecosystem through awareness and essential services.

The purpose of EDA's University Center program is to enable higher education institutions and consortia to establish and operate university centers focused on leveraging university assets to build regional economic ecosystems that support innovation and high-growth entrepreneurship, resiliency, and inclusiveness. Currently, there are 73 EDA-funded university centers covering 47 states and territories.

SDSU's grant is part of a larger $16.5 million investment from the EDA to leverage assets, promote innovation and strengthen regional economies.