NC IDEA MICRO awards funding in the amount of $10K to young companies looking to validate and advance their idea. Funding, along with support though programming, mentorship and introductions, is provided enabling you to more rapidly advance your idea. After recipients are selected, each company works with NC IDEA to implement a four to six-month timeline with impactful use of funds and meaningful milestones. Upon signing a grant agreement, recipients receive 75% of their grant funds, with the remaining 25% received two months later.
To help the founders accelerate the development of their company, MICRO companies will participate in the following:
During the grant period, and continuing once a company becomes a MICRO alumni, grant recipients can take advantage of:
NC IDEA solicits MICRO grant applications twice per year, usually in mid-February and mid-August. We typically receive 150-200 applications each grant cycle. Applications are reviewed by the NC IDEA team, investors and other partners in the entrepreneurial ecosystem. Companies are notified of their status and receive specific feedback on their application. From each applicant pool, approximately 20-30 companies are selected to progress to the finalist phase. Finalists are invited to participate in an in-person interview. Ultimately, 10-15 companies are selected and awarded an NC IDEA MICRO grant. The below timeline includes important dates and deadlines for our Spring 2021 Grant Cycle. The Fall 2021 Grant Cycle will open in mid-August.
**Note: You may only apply to either MICRO or SEED (not both) during a grant cycle.**
February 1 – NC IDEA MICRO Grant Application Opens
February 2-26 – Spring 2021 Virtual Office Hours
March 1 – NC IDEA MICRO Grant Application Deadline
*All applications must be submitted and received by 5:00pm EST – No Exceptions*
April 1 – NC IDEA MICRO Grant Finalists Selected and Notified
April 12-16 – NC IDEA MICRO Grant Finalist Interviews
April 23 – NC IDEA MICRO Grant Recipients Selected and Notified