Condensed Version of NC IDEA LABS to Begin October 16th; Application Open Now Through October 9th

DURHAM, NC — September 28, 2017 — NC IDEA, an independent private foundation committed to strengthening the North Carolina economy by supporting the high potential ventures of entrepreneurs in the State, announced today that NC IDEA LABS Lite, a condensed version of NC IDEA LABS, formerly Groundwork Labs, will begin October 16th.

NC IDEA LABS Lite targets, but is not limited to, entrepreneurs exploring an early stage idea, but due to a full-time job or lack of confidence in the idea, are not able to work on the startup full-time. The Fall session of NC IDEA LABS Lite will meet from 11:30am to 1:00pm on October 16, October 30, November 13 and December 4. The program focuses primarily on customer discovery and lean startup. Outside of the sessions, attendees will spend at least 10 hours per week interviewing potential customers, creating a business model canvas and validating their idea.

Interested applicants can learn more and apply for NC IDEA LABS Lite at www.ncidea.org between now and October 9th at 5:00pm EST.

For those interested in the full version of NC IDEA LABS, NC IDEA recently announced a new program format and upcoming dates and deadlines for this program. Beginning in January 2018, NC IDEA LABS will start a new cohort each month, enabling the program to nearly double the number of companies that can participate each year. Each month, five new companies will begin a one-month customer discovery program. Promising companies who can be impacted by continued engagement with the program, will be invited to continue in a two-month program of intensive mentoring and help. The application deadline for January and February start dates for the full version of NC IDEA LABS is October 30th. The application deadline for March and April start dates will be January 15th.

About NC IDEA
NC IDEA
is an independent private foundation committed to supporting business innovation and economic advancement in North Carolina. Today, the organization fulfills this mission through four initiatives. The Ecosystem Partner Grant program funds organizations across the state that execute creative programs to support entrepreneurs. Over the last decade, the Seed Grant program has awarded over $5M to 118 high-growth companies across the state. Since 2011, nearly 150 companies have participated in the Groundwork Labs startup program. SoarTriangle, a program founded in 2012 to address the proven funding gap for female entrepreneurs, formally became a foundation program in August 2016. Learn more at www.ncidea.org.