DURHAM, NC – November 22, 2016 – NC IDEA, a private foundation committed to supporting entrepreneurial business innovation and economic advancement in North Carolina, announced today that it has selected eleven finalists from across the state in its 22nd seed grant cycle. These finalists were chosen from the 25 semi-finalists that had been selected out of the 142 competitive applications received earlier this year.
The eleven NC IDEA Fall 2016 Seed Grant Cycle finalists include:
“NC IDEA’s competitive finalist pool continues to reflect the expansion of entrepreneurship across the state,” said Thom Ruhe, President and CEO of NC IDEA. “We are seeing unprecedented levels of activity across geography and sectors, both of which are indicative of North Carolina’s growing innovation economy.”
The finalists will present before a review panel comprised of experienced investors, industry experts and entrepreneurs. Grant recipients will be announced in mid-December. The grants, which are up to $50,000 per recipient, are used to support a variety of activities for the growth of nascent firms. 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
NC IDEA is a private foundation committed to supporting business innovation and economic advancement in North Carolina. Today, the organization fulfills this mission through four initiatives. The Ecosystem Partner Grant program funds organizations across the state that execute creative programs to support entrepreneurs. Over the last decade, the Seed Grant program has awarded over $4.5M to 109 high-growth companies across the state. Since 2011, more than 100 companies have participated in the Groundwork Labs startup program. SoarTriangle, a program founded in 2012 to address the proven funding gap for female entrepreneurs, formally became a foundation program in August 2016. Learn more at www.ncidea.org.