Companies applying for the Spring 2019 Investment Crowdfunding Grant will go through a rigorous evaluation process. Companies must meet the following criteria in order to be considered for the $5K grant.
Grants are specifically targeted at companies that conduct a majority of corporate operations in the State of North Carolina. Selected companies must agree to maintain the majority of corporate operations in the State of North Carolina for at least 2 years after receiving grant funding.
*If you choose an NC PACES offering, you may only raise funds from investors located in NC as well.
Companies with high capital requirements and a long runway to commercialization, such as pharmaceutical companies, are not eligible. Other companies that are considered out of scope and not eligible for grant funding include consulting practices or agencies and not-for-profits.
Grants are given to companies that are investable via one of the options on the Localstake NC platform. For companies that choose offerings that allow leveraging customers and supporters, large engaged communities make you more competitive.
Companies developing, testing, or selling a product/service are at the optimal stage to receive an Investment Crowdfunding Grant.
Competitive applicants have at least one or more full-time team member. Companies must meet Localstake guidelines, including the ability of key management members and major owners of the business (greater than 20%) to pass a background check.
There are no particular revenue requirements or thresholds.
There are no restrictions related to prior and future funding; however, companies with existing loans that prohibit them from taking on additional debt may not be eligible.