Nearly 20 years ago, the Black Hills Business Development Center opened its doors on the South Dakota School of Mines campus. As a business incubator, it provided cost-effective office space and resources for startup companies. In that time more than 30 companies started their operations. However, it soon became clear that this would not work for long.

The space was outdated. It didn’t reflect the need for flexible workspace and hybrid workers.

SD Mines needed more room for its own growth – specifically a space for research.

Entrepreneurs also wanted more access to the downtown ecosystem and its amenities.

With all this in mind, discussions to find a solution took place among community members and the City. They determined a city lot at 18 East Main would be the perfect location. It was a center point between SD Mines and the downtown ecosystem. A new facility could be built with today’s business needs in mind. And SD Mines would be able to expand into the building on campus.

Around this time, Elevate Rapid City was also formed. It merged the Chamber of Commerce, Economic Development, and business incubator. This brought the strenghts of all three organizations together, supporting local businesses from conception to expansion with one team and wrap-around services.

Through this dynamic public-private partnership, money was raised from local businesses, and grants secured from the State of South Dakota and EDA to move this vision of a business accelerator forward.

On October 9, 2019, city officials broke ground on the 4.3-acre lot. By Spring of 2021, the Elevate Rapid City staff and first few tenants moved in. Today, the 40,000 square foot building is home to 13 businesses and over 80 employees.

What is in a name: The David Lust Accelerator Building

David Lust, the founding chairman of the Elevate Rapid City Board of Directors, serving from 2018 to 2021, was an integral force in creating Elevate Rapid City and the creation and construction of the Elevate Accelerator Building. He possessed a passion for collaborative efforts aimed at improving the quality of life for those who call Rapid City home.

Sadly, David passed away unexpectedly on July 23, 2021. In acknowledgment of all he did to create Elevate and grow this community, the building was named in his honor: David Lust Accelerator Building (DLAB). His legacy lives on each day through the work of Elevate Rapid City.

A Look Inside

The DLAB offers 25,000 square feet of shared space for tenants including meeting rooms, a board room, and a small event space for presentations. All rooms accommodate virtual meetings, reflecting the intentional design of a modern-day facility for these startup companies.

But it’s about more than the building.

As a business accelerator, the DLAB exists to help startup companies launch and grow. It is a starting point, but never a long-term home for these companies. The hope is that they expand into the community.

Getting into the DLAB requires an application. Business tenants must be startup companies specifically in the STEM (Science, Technology, Engineering, Manufacturing) fields and typically less than 2 years into their business. They meet regularly with Elevate staff to discuss their progress and connect with resources. Currently, the building is at full capacity.

Some of the 13 businesses inside are temporarily housed in the DLAB as they establish their permanent expansion into Rapid City. Others provide services to startups, further enhancing the DLAB’s goal of being a one-stop shop for business support.

Current Tenants: (list as of October 2024. For more information click here.)

• KLJ
• CounSil, LLC
• Midwest Lithium
• DH Geothermal*
• Zinvent Industries
• FullSend Ski Company*
• SD Ellsworth Development Authority
• Governor’s Office of Economic Development
• Sanford Underground Research Foundation
• Secure Compliance
• Daktronics
• Driven Fire
• AerSol

*Graduating this year 

A Hub for Innovation

The building has become a local landmark, connecting Rapid City’s downtown corridor with the SD Mines campus. Still, it is only one component of the startup community that continues to grow in Rapid City. Many people may not realize that they don’t have to be tenants to access the expertise and support of Elevate staff inside.

“We want people to think of us as the center of the hub,” said Lori Frederick, senior economic development director at Elevate Rapid City. “If a business comes to us needing help, we can connect them to the right resources and support they need.”

Any business owner can meet with staff to discuss their goals and pain points. Sometimes, Elevate helps connect businesses with local partners who assist with business plans and financials. Other times, Elevate provides market research reports to help businesses identify new product opportunities or better understand their customers. The best way to get started is by visiting elevaterapidcity.com to set up an appointment.

Elevate Rapid City also offers events and programming for all regional business owners. Examples include happy hours, lunch and learn workshops covering topics from financials to AI. And most recently, they launched a mentorship program to connect new business owners with community members willing to share their experience and knowledge.

The David Lust Accelerator Building plays a pivotal role in offering not just space but also support and connection to emerging companies in Rapid City’s expanding startup ecosystem. Through mentorship, resources, and programming, the DLAB ensures entrepreneurs have the tools they need to succeed. Rapid City's evolution remains a testament to the power of collaboration and a hub where big ideas turn into thriving businesses.