Finalists Seeking $50,000 Each in NC IDEA’s 26th SEED Grant Cycle
DURHAM, NC – October 31, 2018 – NC IDEA, a private foundation committed to supporting entrepreneurial ambition and economic advancement in North Carolina, announced today that the organization has selected 11 finalists from across the state in its 26th SEED grant cycle. The finalists were chosen from the 24 semi-finalists that had been selected out of 158 competitive applications.
“This group of finalists is perhaps one of our most diverse for the types of organizations advancing. It defies a convenient generalization, which is great,” said Thom Ruhe, President and CEO of NC IDEA. “I think it may be a reflection of our diverse and growing partners that are actively helping more (different) companies be competitive in the grant process,” Ruhe concluded.
The eleven Fall 2018 NC IDEA SEED Finalists include:
The finalists will present before a review panel comprised of experienced investors, industry experts and entrepreneurs. Approximately five to seven grant recipients will be announced in mid-November. The $50,000 grants are intended to support business activities that validate target markets, reduce risk associated with early stage companies and help companies get to the point of suitability for growth; whether through investment or revenue. In addition to the funding, winners will also benefit from mentoring by successful entrepreneurs and experienced investors; use of MBA interns; in-kind services from attorneys, accountants and marketing consultants; public recognition and access to growth capital.
About NC IDEA FOUNDATION
NC IDEA is an independent private foundation committed to supporting entrepreneurial ambition and economic advancement in North Carolina. Today, the organization fulfills this mission through a strategic combination of competitive grants and programs. NC IDEA ECOSYSTEM funds organizations across the state that execute creative programs to support entrepreneurs. Similarly, NC IDEA ENGAGE is a community-focused grant program supporting individuals and organizations that facilitate entrepreneurship activity. Over the last decade, the NC IDEA SEED program has awarded over $5.5 million in non-dilutive grants to 131 growth-oriented companies across the state, and most recently awarded nearly $150,000 in 15 micro-grants through a pilot program. Since 2011, over 150 companies have participated in NC IDEA LABS, formerly Groundwork Labs, to guide founders developing an idea or product. NC IDEA SOAR, a program founded in 2012, supports female entrepreneurs leading scalable businesses in raising capital through mentorship, strategic advice and connections. NC IDEA LEAD, the Foundation’s newest program, provides leadership training for founders of high-growth companies. Learn more at www.ncidea.org.