Local organizations apply for entrepreneur program

SIOUX FALLS - Several economic development leaders in the Southern Hills have indicated intent to be considered for the first round of site selection for Dakota Rising, an exciting new program aimed at building partnerships to assist entrepreneurs committed to developing their skills and growing their businesses.

More than thirty communities and geographic areas have applied to be considered as one of four pilot sites.

Among area leaders involved in the program are Cindy Trent of the Edgemont Chamber of Commerce, George Kotti of the Hot Springs Area Chamber of Commerce and Cindy Reed of Hot Springs.

Dakota Rising seeks to give businesses new resources and to sustain South Dakota communities. The program offers strategic partnerships with local communities to invigorate rural entrepreneurs and their enterprises.

Eight semi-finalists will be selected. These communities will receive training in entrepreneur development systems before submitting their final applications. Four sites will be chosen in the first year of the program. They will be selected based on a history of collaboration and community investment, evidence of a pool of potential entrepreneurs, and the presence of local citizen leadership willing and qualified to grow the entrepreneurial culture of their community.

Each selected site will receive:

• A $5,000 grant renewable annually for three years to be used to build a strong local network to support entrepreneurship.

• Participation in a statewide learning community working together to share best practices around entrepreneurship cultivation.

• Access to more intentional, specialized resources to foster local entrepreneurship.

Once sites are selected, they will partner with Dakota Rising to encourage local candidates to apply for the Rural Entrepreneur Fellowships. Candidates, whose businesses must be located within the community and be beyond a start-up phase of development, will be required to submit a business and a professional plan for development. Applicants will be selected based on a history of action-oriented risk taking, an excitement to learn and grow, the feasibility of the business and a strong plan for growth. Winning candidates will receive:

• $10,000 to be used for professional development and business growth.

• Access to a Fellowship community of rural South Dakota entrepreneurs focused on growing their businesses.

• Access to mentors, professional development, a peer advisory board, and ongoing focused, industry-specific technical assistance.

Dakota Rising, in partnership with the local sites, will work to help area entrepreneurs achieve the necessary goals to grow themselves and their businesses to a new level.

“People have always been South Dakota’s greatest asset,” said Beth Davis, president of SD Rural Enterprise and program coordinator. “We’ve always known how to work hard and work together to grow our economy. By using that cooperative strategy, our future will be strengthened, one innovative business at a time.”

For more information, contact SD Rural Enterprise at 605-987-2804 or e-mail info@sdrei.org. Dakota Rising information is also available on the Rural Enterprise website, www.sdrei.org.