When evaluating an NC IDEA SEED grant application, we assess the strengths and weaknesses of a company across the following areas:

Idea
  • Size and significance of problem being addressed
  • Benefits, strength and uniqueness of solution
  • Risk
Technology
  • Innovation
  • Stage of development
  • Intellectual property
Market and Business Model
  • Customer profile
  • Revenue and pricing models
  • Size of market and market opportunity
  • Sales strategy
  • Competitive advantage
  • Number, size and strength of competitors
Traction
  • Stage of development
  • Current/expected revenues
  • Customer discovery
  • Accomplishments to-date
Team
  • Quality of management team
  • Experience of management team
  • Completeness of management team
  • Commitment of team
  • Quality of advisors
Grant Request and Funding
  • Use of grant funds
  • Impact of grant funds
  • Milestones
  • Prior funding
  • Future funding potential

Preview some of the questions on the NC IDEA SEED application here.

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