“Under the leadership of the NC Black Entrepreneurship Council and just months after its formation, our call to fund organizations supporting more Black people in their ambition to start and scale growth-oriented companies drew an incredible response. Equitable entrepreneurship is vital to our economic recovery. Partnering with these eight worthy recipients, creates greater opportunity to economically empower Black people with entrepreneurship, and collectively work to combat inequalities that perpetuate racial imbalances. I hope we can convince more funding partners to support this important work, thereby funding many more of the requests we received.” – Thom Ruhe, CEO and President, NC IDEA FOUNDATION
The eight new NC BEC ECOSYSTEM grant recipients are:
In August 2020, the North Carolina Black Entrepreneurship Council (NC BEC) was formed to lead NC IDEA in its programmatic and grant making ambitions to address the challenges of Black entrepreneurship in North Carolina. The NC BEC is launching its inaugural grant program, NC BEC ECOSYSTEM, with $500,000 in total funding to support and partner with organizations throughout the state executing on innovative and transformational ideas that will elevate Black entrepreneurship.
Download the Request for Proposal including all of the information below here.
The NC BEC ECOSYSTEM grant opportunity is for entrepreneur support organizations that support black entrepreneurs and black-owned businesses. This particular grant is not intended to fund the entrepreneurs and businesses themselves. NC IDEA has other grant programs (MICRO and SEED) that directly support startups.
The NC BEC ECOSYSTEM grant program is designed to:
The NC BEC ECOSYSTEM solicitation requires that proposals solely focus on helping Black entrepreneurs and growth-oriented Black-owned firms start and grow scalable businesses.
It is not our intention to create funding dependencies with this grant program. This effort is intended to validate vital activities and demonstrate that continuing (supporting) those activities, beyond the period of the grant, would be in the interest of the communities served.
It is also not our intention to indirectly provide COVID-19 relief funds via this grant program, as other entities in the state can better address those needs.
We invite proposals from 501(c)(3) and for profit organizations within North Carolina that are in service to, or have programs specifically focused on, helping Black entrepreneurs and growth-oriented Black-owned firms start and grow scalable businesses. We are open to new programs and ideas that are being disruptive and driving change, as well as existing programs and initiatives. ALL grant dollars must be allocated toward specific programs and activities serving the Black entrepreneurial community of North Carolina.
The NC BEC ECOSYSTEM grant opportunity is for entrepreneur support organizations that support black entrepreneurs and black-owned businesses. This particular grant is not intended to fund the entrepreneurs and businesses themselves. NC IDEA has other grant programs (MICRO and SEED) that directly support startups.
The following entities are not eligible to be awarded an NC BEC ECOSYSTEM grant:
This request for proposals is intentionally non-prescriptive and evaluation is subjective; at the sole discretion of the Foundation and the North Carolina Black Entrepreneurship Council. Applicants are encouraged not to assume they will receive funding and not to represent or make other funding initiatives contingent upon winning a grant from this application.
NC IDEA does not presume how to best serve the Black entrepreneurial community of North Carolina. We have however, supported dozens of organizations around the state and have observed common practices with promising results that will factor into our evaluation. These include, but are not limited to:
Proposals will be subjectively evaluated using the criteria that follows. Other factors may be considered at the sole discretion of NC IDEA and the North Carolina Black Entrepreneurship Council.
Alignment
Ability to Execute
Outcomes & Metrics
Sustainability
Leverage
Timing
October 5
NC BEC ECOSYSTEM Grant Application Opens
October 23
Virtual Town Hall
Watch the Recorded Session
November 2
NC BEC ECOSYSTEM Grant Application Deadline (by 5:00pm EST)
November
NC BEC Evaluation and Due Diligence
December 11
NC BEC ECOSYSTEM Award Notifications
Applicants may request any amount of funding up to but not exceeding $50,000. Scheduled grant payments should align with specific activities, and funding may be allocated according to milestones and scheduled payments over the course of one year. NC IDEA does not allow grant awards to include indirect or overhead costs.
All interested candidates must apply online via the “Apply Now” link below. The online application includes specific questions with character counts. Progress on applications can be saved and resumed and submitted at a later time. You may work offline using the NC BEC ECOSYSTEM Application Template; however, ALL final submissions are due via our online application portal by 5:00pm EST on Monday, November 2, 2020. NC IDEA will not accept late applications OR applications via email, fax, mail or in-person.
Please Note: Submission of an application does NOT obligate the Foundation to make any grants. It is anticipated that many applications will be submitted, and few will be awarded. (Historically, fewer than 20% of applicants have been selected as grant recipients in similar programs). If you do not receive a grant, please understand that our decision is not a reflection on the merit of your application or your organization. We receive more grant requests than we have the capacity to support, and therefore select the one/s we feel best meet our criteria.
Questions? Contact ncbec@ncidea.org.
