Durham, NC – January 10, 2011 – NC IDEA, an organization committed to supporting business innovation and economic advancement in North Carolina, announced today that it has awarded $200,000 in grants to five North Carolina startups. Since its inception in 2006, NC IDEA’s grants program has awarded approximately $1.9M to 52 companies across the state, with these most recent awards being the tenth cycle of the program.
NC IDEA’s grants 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 that young companies encounter, while also connecting the startups with other investors, institutions and business leaders to maximize their prospects for commercial success.
“We are sure to see some exciting developments from our recent grant winners over the coming months,” said David Rizzo, President and CEO of NC IDEA. “These five recipients emerged to the top of one of our most competitive grant cycles to date. The quality of the approximately 100 applicants was impressive. NC IDEA remains committed to funding these young companies that are poised to become viable, high-growth enterprises and contribute to North Carolina’s job growth and economic development.”
The following five companies are NC IDEA’s most recent grant recipients for the Fall 2010 cycle:
HEALTHeME – Durham, NC
HEALTHeME’s digital therapeutics platform empowers people to manage their own health via the web and their mobile phone. The HEALTHeME platform combines clinical treatments and sophisticated artificial intelligence to create customized plans based on users’ lifestyles, health goals and personality type. Leveraging real-time coaching, social networks and the user’s own healthcare providers, HEALTHeME provides truly tailored care outside the clinic walls. Its first product scales obesity treatment and has been launched in three states including North Carolina. To date, data shows that HEALTHeME’s users’ achieve double the weight loss as other mobile health products at 3 months. Learn more at www.myhealtheme.com.
PowerChalk – Cary, NC
PowerChalk is the first and only web-based sports motion telestrator that lets you upload, markup and voiceover videos without installing high priced, hard to use (and harder to configure) software. Already in use by major league players and teams, PowerChalk is changing the face of sports instruction. Learn more at www.powerchalk.com.
RemedEase – Durham, NC
RemedEase offers a patented method and device as a new and novel treatment for nosebleeds, suffered by millions of Americans every day. It requires only that the device be slipped under the top lip where it significantly curtails the primary flow of blood to the nose in approximately 1-2 minutes. It is easily distinguished from other nosebleed products – none of which are both patented and FDA approved and all of which require that the device be inserted in the nose cavity directly, therefore being much more invasive to use.
Scion NeuroStim – Raleigh, NC
Scion NeuroStim has developed an inexpensive, non-invasive neurostimulator that is being used in a highly successful pilot study to treat migraine patients. The underlying science involves stimulation of innate protective pathways in the body to treat pain. The goal is to provide a device that can be used in either the physician’s office or eventually the patient’s home. The company’s current focus is on expanding clinical studies using the device and achieving FDA clearance for its commercialization.
Spring Metrics – Durham, NC
Spring Metrics helps you grow your online business by providing a deeper understanding of your customers and how they interact with your website. The company does this by making complex web analytics more friendly and digestible for marketers and e-commerce professionals who don’t want to wrestle with the complexity of traditional analytics products. With an easy-to-use interface that requires no coding knowledge, Spring Metrics eliminates the hassle of creating conversion funnels and goals. The company’s real-time dashboard offers an array of conversion-oriented metrics, and the Insight Engine unearths actionable patterns in the data—patterns that help you turn more visitors into paying customers. Learn more at www.springmetrics.com.
The upcoming Spring 2011 grant opportunity for North Carolina based companies will open in mid-February. Learn more about NC IDEA’s grant application process, timeline and criteria at www.ncidea.org.
About NC IDEA
NC IDEA, a 501(c)(3) not-for-profit organization, targets promising technology companies that need help bridging the gap between initial product development and venture capital funding. The organization helps young, innovative companies mainly by providing early financing in the form of grants. NC IDEA further supports its grant winning companies by leveraging the organization’s solid partnerships and strategic alliances to assist companies through research phases, business challenges and growth goals. Learn more at www.ncidea.org.