NC IDEA Newsletter – August 9, 2017



That Time of Year
As hot summer days give way to cooler evenings and the beginning of football season, it must mean that we are rapidly approaching the Fall Seed Grant Cycle for NC IDEA! In advance of this cycle, we are taking to the road to share details of the program that makes $50,000 grants to entrepreneurs pursuing high potential ideas. Info sessions will be held throughout the state of North Carolina to explain how to apply as well as characteristics of competitive proposals. See below for dates, times, and locations.
NC IDEA Grant Writing Info Sessions and Interactive Workshops:
The program is open to NC-based entrepreneurs and those looking to relocate to North Carolina. The Foundation’s Seed Grant program provides grants of up to $50K to innovative startups, typically between proof of concept and profitability, 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 funding; be that crowdfunding, angel or venture capital investment. The application will be available online from August 28th through September 11th at 5:00pm EST.

In addition to the informational sessions, applicants can schedule Virtual Office Hours over the next few weeks to answer specific questions. To register for any of the informational sessions or sign-up for Virtual Office Hours, visit our Seed Grant Timeline.

 

NC IDEA President & CEO, Thom Ruhe,  introduces programs offered by the foundation. Applications open for NC IDEA’s Seed Grant on August 28th.

Company Updates

 

Automated Insights Expands Offices to Three Cities

2006 Seed Grant Recipient, Automated Insights, announced their expansion to New York City, Portland, and Seattle this week. Automated Insights, Inc. (Ai) is the creator of Wordsmith, the world’s first open natural language generation (NLG) engine. The new office expansion enables Automated Insights to accommodate and support the company’s rapid growth seen across a multitude of industries after six straight quarters of record sales growth. Read more.

 

MATI Raises Another $2.55M
2014 Seed Grant Recipient, MATI Energy, announced another $2.55M in funding to bring their second funding round to $5.25M. MATI says it expanded the latest funding round to meet demand from new investors, and as a result in stepping up its expansion plans. Read more.
 

BioMedomics Raises $500K

2008 Seed Grant Recipient, BioMedomics, has raised $500,000 in an equity and debt offering, according to a filing Friday with the Securities and Exchange Commission. BioMedomics, Inc. is a point-of-care (“POC”) diagnostics company that has developed unique immunologically-based disease-specific tests and advanced highly sensitive quantitative platforms. Read more.

For Entrepreneurs

 

Asheville Consumer Product Meetup
American Underground, a Durham, NC campus for entrepreneurs, is bringing its consumer product happy hour on the road! In partnership with NC IDEA, Venture Asheville and RISC Networks, the monthly meetup AU has convened in the Triangle and Triad is coming to Asheville. The meetup is focused on building regular conversations and expanding the network among consumer product entrepreneurs, investors, mentors, and generally anyone curious about product companies. RSVP.
Thursday, August 10th
5:30PM-7:00PM
RISC Networks
81 Broadway
Suite C
Asheville, NC 28801
 

AU + Google Partner to Support Black Founders
The second annual Google for Entrepreneurs Black Founder Exchange program is accepting applications! This program focuses on Black founders raising a seed round of capital (less than $750k)–last year’s program supported half of the participants in successfully raising funding and every participant recommended the program upon completion (full recap here). Apply by Friday, August 11th!
 

RTP AgBio + AgTech Meetup: Next Gen and Urban Agriculture

Join us for Next Gen and Urban Agriculture.

This meeting will be held in ‘The Classroom’ at the Frontier. Fantastic local speakers, lots of space for networking, bring your friends!

Founder of AutoMicroFarm, Andrew Shindyapin, and Founder of The Farmery, Ben Greene will be sharing various aspects of their businesses. Talks will be followed by networking, a chance to ask speakers questions and the opportunity to form cross industry relationships. RSVP.

Tuesday, August 15th
4:00PM-5:30PM
The Frontier, The Classroom
800 Park Offices Drive
RTP, NC

 

SalesJam at Durham Bulls Athletic Park
RevBoss and ExitEvent are hosting SalesJam at the Durham Bulls Athletic Park in Durham. This is version four of our half-day event that combines great speakers, actionable content and dynamic networking that will help sales pros build more effective sales organizations and deliver more sales results.

This event is for startup founders and leaders, sales professionals, small business owners and those new to the sales field. Presented by sales development software provider RevBoss and powered by ExitEvent, an online media company covering startups and educating entrepreneurs in North Carolina, it’s meant to provide affordable, local training that’s inspiring and fun.

Get your tickets here!

Friday, August 18th
7:30AM-1:00PM
Durham Bulls Athletics Park, PNC Club
409 Blackwell Street
Durham, NC

 

Durham Seeks Entrepreneurs for Innovation Partnership

Local startups and entrepreneurs looking to develop and test products and services now have a new way to do so thanks to a pilot program from the City of Durham.

The City’s Office of Performance and Innovation is launching the new Innovate Durham program to open up the City’s resources for entrepreneurs to develop, test and scale innovative solutions to improve City operations and solve community problems. This pilot program, now accepting applications until Monday, August 28, will give startups and entrepreneurs a way to test their products or services using City data and infrastructure. Read more.