DURHAM, NC – January 28, 2015 – NC IDEA, an organization committed to supporting business innovation and economic advancement in North Carolina, announced today that the organization’s 19thgrant cycle will open on February 9th with a revised review process to encourage applicants across diverse funding stages. The upcoming cycle will kick-off with a series of information sessions being held throughout North Carolina.
New this cycle, NC IDEA will be evaluating applications in two categories based on the company’s current funding position. Companies that have raised less than $50K in equity will be evaluated against each other, while those that have raised more than $50K in equity funding will be compared with one another. The intent of an NC IDEA grant is to enable acquisition of first or further equity, therefore revising the review process should create a more objective approach to looking at applicants across various stages.
“In recent cycles, we have seen a broad spectrum of applicants in terms of equity raised,” said David Rizzo, President and CEO of NC IDEA. “By ensuring that companies in various stages of funding are properly compared to each other, we hope to encourage companies that aren’t as far along to apply knowing they will be reviewed only against their counterparts. On the flip side, we hope to see companies that have already received some funding convince us that our $50K can make a difference. Grants will ultimately be awarded where the funding will make the most impact.”
Interested applicants may attend any of the five information sessions being held in-person and via webinar to learn more about the grant process and criteria. Interested parties can confirm their attendance at any of these sessions by visiting ncidea.org and following the registration link on the homepage.
- Friday, February 6th – NC IDEA Spring 2015 WILMINGTON Info Session hosted by UNCW Center for Innovation and Entrepreneurship
- Monday, February 9th – NC IDEA Spring 2015 Info Session **via WEBINAR**
- Tuesday, February 10th – NC IDEA Spring 2015 TRIAD Info Session hosted by Flywheel
- Wednesday, February 11th – NC IDEA Spring 2015 TRIANGLE Info Session
- Thursday, February 12th – NC IDEA Spring 2015 CHARLOTTE Info Session hosted by Packard Place
The upcoming grant opportunity for NC-based entrepreneurs and companies, and those looking to locate to North Carolina, will open on Monday, February 9th. Companies focused on software, information technology, medical devices or material sciences are encouraged to apply. There are two pre-proposal deadlines for the Spring 2015 cycle: an early deadline on Friday, February 20th and a final deadline on Friday, March 6th. Due to the competitive nature of the screening process, applicants are strongly encouraged to apply by the first deadline, giving them the benefit of an extended review period and the potential opportunity to be selected to advance to the proposal round under early decision.
NC IDEA’s grant program is a catalyst for technological breakthroughs developed in North Carolina that have a significant potential to successfully transition into commercially viable high-growth enterprises. The grants, which are up to $50,000 per recipient, support business plan research and development, reduce risk of early failure and advance projects to the point of suitability for angel or venture capital investment. In addition to the funding, NC IDEA and its network of seasoned business and technology partners mentor and guide the grant recipients through the complex growth cycles of young companies, while also connecting the startups with other investors, institutions and business leaders to maximize their prospects for commercial success.
To learn more, attend an information session and to apply for an NC IDEA grant, visit ncidea.org.
