Proof of Concept

Proof of Concept Increasing South Dakota Innovation The Proof of Concept program provides up to $25,000 to conduct research that demonstrates the technical and economic feasibility of an innovation before it is commercialized. The program is open to those committed to commercializing an innovation in South Dakota, such as entrepreneurs, universities, existing South Dakota companies and other entities. Investment proceeds may be used to pay consultant contracts, material and supplies, salaries for employees in South Dakota, and necessary services for technical feasibility or marketing studies. View Finance Programs How it Works Eligible Recipients Use of Funds Terms How it Works Submit completed program application to the GOED. The application packet is available online. GOED staff will review the application, determine eligibility, and contact the applicant if additional information is needed. The Research Affairs Council, which consists of representatives from the six public universities, will conduct a technical review of the proposal. Additionally, an advisory group of private equity investors and business incubator managers will conduct a business review. The technical and business reviews will be used by GOED to decide whether the application is approved. If approved, a contractual agreement will be sent to the applicant for approval and the proof of concept project will be conducted. Upo