DURHAM, NC – July 31, 2013 – NC IDEA, an organization committed to supporting business innovation and economic advancement in North Carolina, announced today that the organization’s sixteenth grant cycle will open on August 12th. The upcoming cycle will kick-off with a series of information sessions and include a new video element to the application.
For the first time, entrepreneurs will have the opportunity to submit a two-minute video along with their grant application. Submitting a video is optional but encouraged. The videos can include elevator pitches, product demos, customer stories or other types of pitches that companies feel will help enhance their written application.
In conjunction with the opening of the Fall cycle, several information sessions are being hosted to discuss the grant process and eligibility criteria. Interested applicants can attend one of four information sessions being held throughout the state and via webinar. Interested parties can confirm their attendance at any of these sessions by visiting www.ncidea.org and following the registration link on the homepage.
The upcoming grant opportunity for NC-based entrepreneurs and companies, and those looking to locate to North Carolina, will open on Monday, August 12th. Companies focused on software, information technology, medical devices or material sciences are encouraged to apply. There are two pre-proposal deadlines for the Fall 2013 cycle: an early deadline on Friday, August 23rd and a final deadline on Friday, September 6th. Due to the competitive nature of the screening process, applicants are strongly encouraged to apply by the first deadline, giving them the benefit of an extended review period and the potential opportunity to be selected to advance to the proposal round under early decision.
NC IDEA’s grant 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 of young companies, while also connecting the startups with other investors, institutions and business leaders to maximize their prospects for commercial success.
To learn more, attend an info session and to apply for an NC IDEA grant, visit 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. Since its inception in 2006, NC IDEA’s grant program has awarded nearly $3.0M to 77 companies across the state. Learn more at www.ncidea.org.