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NC IDEA Foundation Awards Total of $350,000 to Seven North Carolina Startups

Spring 2024 NC IDEA SEED Grant Recipients Selected from Diverse Applicant Pool

 DURHAM, NC – May 16, 2024 – NC IDEA, a private foundation committed to supporting entrepreneurial ambition and economic empowerment in North Carolina, announced today that the organization has awarded a total of $350,000 in grants to seven North Carolina startups. Since its inception in 2006, the NC IDEA SEED grant program has awarded over $9.7M in non-dilutive grants to 212 innovative companies across the state, with these most recent awards being the 37th cycle of the program.

“We had an incredibly competitive cycle leading to yet another diverse cohort of companies spanning everything from agtech, VR therapy (built on university IP), and AI-powered tools to gaming,” said Thom Ruhe, CEO and President of NC IDEA. “North Carolina is blessed with a deep bench of high-growth potential companies being led by passionate and gifted founders. It’s a privilege to support their entrepreneurial journey,” Ruhe concluded.

The following seven Spring 2024 NC IDEA SEED grant recipients were chosen after a three-month competitive application and selection process that drew applications from across the state:

Fashivly, Inc – Charlotte, NC
An online personal styling platform that’s building the future of shopping.

Flexie Inc. – Charlotte, NC
A cutting-edge technology to streamline finding and cultivating early talent.

GameFlo Inc – Chapel Hill, NC
A gaming company on a mission to nurture imagination and make learning fun.

Moxie (previously Academic Insight Lab) – Raleigh, NC
AI-powered research tools to help users ethically design, write, and edit academic papers.

OsRostrum, Inc. – Graham, NC
Using artificial intelligence to detect physical indicators of resilience to inform breeding decisions at a fraction of the price using a phone already in a farmer’s pocket.

WheelPrice – Charlotte, NC
The go-to online marketplace for car enthusiasts to buy and sell wheels.

XR Technologies, LLC – Charlotte, NC
A Software as a Medical Device (SaMD) service that provides VR therapy for amputees combining AI and proven graded motor imagery protocols to fix phantom limb pain.

NC IDEA SEED offers early stage companies the critical funding they need to scale faster. The $50,000 grants are awarded to innovative startups with a proven concept, even if they are not yet profitable. The funds, along with mentorship and guidance, push companies forward and reduce the risk associated with these nascent firms.

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.