NRRI Business Group
The NRRI Business Group is part of the UMD Center for Economic Development (CED). The UMD CED is a joint program of the Natural Resource Research Institute, the Labovitz School of Business and Economics and the College of Science and Engineering. The CED's mission is to support the growth, diversification and stability of Northeastern Minnesota, which it does through several programs and includes the NRRI Business Group, the Small Business Development Center, the 21st Century Arrowhead Initiative, Business related workshops, and Student to Business Initiatives.
The NRRI Business Group specializes in working towards the commercialization of natural resources and the development of new markets for existing natural resource based products. It has two segments of customers. The first customer is internal -- the NRRI Principle Investigators who are working with university intellectual property. The second customer is external -- the business or entrepreneur in a manufacturing type capacity.
The NRRI Business Group focuses on helping businesses and entrepreneurs find solutions which make their venture profitable, therefore helping to sustain the economic viability of the seven county Arrowhead Region of Northeastern Minnesota. Services include:
- personalized consulting
- product development and commercialization
- business valuation
- technology transfer
- business plan development
- industry and market evaluation
- marketing plan development
- financial analysis and loan packaging
- small business workshops