DURHAM, NC – May 12, 2016 – NC IDEA Foundation, an organization committed to supporting entrepreneurial business innovation and economic advancement in North Carolina, announced today that it has selected eleven finalists from across the state to compete in its 21st seed-stage grant cycle. These finalists were chosen from the 26 semi-finalists that had been selected out of the 173 applications received from NC-based, high-growth technology startups earlier this year.
The eleven NC IDEA Spring 2016 Finalists include:
“It comes as no surprise that one of the largest applicant pools in the history of the program has rendered one of the most diverse set of finalists,” said Thom Ruhe, President and CEO of NC IDEA. “From nanotechnology to medical device to semiconductors and the ubiquitous information technology offerings, it’s clear that North Carolina has diverse and promising entrepreneurial prospects.”
The finalists will present before a review panel comprised of experienced investors, industry experts and entrepreneurs. Grant recipients will be announced in June. The grants, which are up to $50,000 per recipient, support business plan research and development, reduce the risk of early failure and advance projects to the point of suitability for angel or venture capital investment. In addition to the funding, winners will also benefit from mentoring by successful entrepreneurs and experienced investors; use of MBA interns; in-kind services from attorneys, accountants and marketing consultants; public recognition and access to growth capital.
About NC IDEA
NC IDEA is a private foundation committed to supporting business innovation and economic advancement in North Carolina. The organization serves as a catalyst for young, high-growth technology companies by promoting initiatives that foster growth and guides these companies to become major contributors to the state’s business community. Since its inception in 2006, NC IDEA’s seed-stage grant program has awarded over $4.2M to 104 companies across the state. NC IDEA has supported over 100 additional companies through its Durham-based startup program Groundwork Labs. Learn more at www.ncidea.org.