Seeking Partners to Strengthen NC’s Entrepreneurial Ecosystem with Focus on Under-Served Entrepreneurs
DURHAM, NC – October 29, 2024 – NC IDEA, a private foundation committed to supporting entrepreneurial ambition and economic empowerment in North Carolina, announced today that the Foundation is accepting applications now through December 5th from organizations executing on innovative and transformational ideas to strengthen North Carolina’s entrepreneurial ecosystem, with a specific focus on supporting under-served entrepreneurs in the state.
NC IDEA ECOSYSTEM is designed to identify and support partner organizations across the state doing inspired things to help entrepreneurs. Working in partnership with others provides the opportunity to foster relationships and create dialog between partners while allowing a better understanding of how we may (collectively) support more people in their ambition to start and grow companies that will strengthen the economy of North Carolina.
To date, the NC IDEA ECOSYSTEM grant program has collectively awarded over $6.0 million to more than 75 strategic partners across the state. The program has primarily supported region-focused entrepreneurial ecosystem development efforts, in addition to some targeted efforts toward specific populations, such as the military community; or industry sectors, such as IoT.
“With this current grant solicitation, our goal is to continue to strengthen North Carolina’s entrepreneurial support infrastructure for identified, statistically under-served populations,” said Ben Redding, Chief Financial Officer of NC IDEA and manager of the ECOSYSTEM grant program. “By intentionally supporting under-served communities, we and our partners will continue to create greater opportunity to economically empower all North Carolinians with entrepreneurship,” Redding added.
NC IDEA invites proposals from nonprofit and for-profit organizations within North Carolina that help North Carolinians achieve their entrepreneurial ambition to start and build innovative companies. Note that preferential consideration will be given to proposed activities that support startups that may later take advantage of NC IDEA’s grants and programs for entrepreneurs.
For the Fall 2024 ECOSYSTEM Grant Cycle, the goal is to select and fund approximately twelve (12) proposals that strengthen the NC entrepreneurial ecosystem. Note that programs supported by this ECOSYSTEM Grant are REQUIRED to primarily focus on under-served entrepreneurs that: 1) are located in Eligible Rural Counties of North Carolina; 2) identify as Female; and/or 3) identify as Minority (or Persons of Color). For the purposes of this grant application, “Eligible Rural Counties” of North Carolina are specifically identified on the NC IDEA document here.
Applicants may request up to $100,000 of total funding. Each grant award will be for up to $100,000 in total and disbursed during the period between the execution of the Grant Agreement and December 2025, with all funding to be utilized and related project activities to conclude by June 2026.
For detailed criteria and to apply, visit www.ncidea.org/nc-idea-ecosystem/. Potential applicants can also participate in a virtual info session on November 7th at 11:00 a.m to learn more and ask questions. Final submissions are due Thursday, December 5th, at 5:00 p.m. EST. Grant award recipients will be selected and announced in February 2025.
About NC IDEA FOUNDATION
NC IDEA is an independent private foundation committed to equitably empowering North Carolinians to achieve their entrepreneurial potential. Through our powerful combination of competitive grants and programs and a network of strategic partners, we help entrepreneurs when they need it most. NC IDEA’s resources are highly competitive, enabling the Foundation to support North Carolina’s most ambitious entrepreneurs. We believe entrepreneurs transform communities and view our work as a catalyst for positive change. Learn more at www.ncidea.org.
