DURHAM, NC – October 7, 2015 – NC IDEA, an organization committed to supporting entrepreneurial business innovation and economic advancement in North Carolina, announced today that it has selected 22 semi-finalists from across the state in its 20th grant cycle to-date. These semi-finalists were chosen from the 130 applications received from NC-based startups focused on software, IP-based technologies, consumer products and medical device and diagnostics.
“Now in our 20th grant cycle, we continue our efforts to ensure our grant program reaches entrepreneurs statewide,” said Sean O’Leary, interim executive director of NC IDEA. “Consistently for the previous four grant cycles, approximately one third of our semi-finalists have come from outside of the Triangle, and this cycle continues that same trend. One third of this cycle’s applicants were from outside of the Triangle and one third of the 22 semi-finalists are also non-Triangle companies, including companies from Asheville, Charlotte, Greensboro and Wilmington. It’s quite exciting to see competitive grant applications from across the state spanning industries from software to semiconductors.”
The 22 NC IDEA Fall 2015 Grant Cycle semi-finalists include:
The semi-finalists have been invited to submit a full, more detailed proposal by mid-October. Finalists will then be selected at the beginning of November to present before a review panel comprised of experienced investors, industry experts and entrepreneurs. Approximately four to six grant recipients will be announced in early December. The grants, which are up to $50,000 per recipient, support business plan research and development, reduce the risk of early failure and advance projects to the point of suitability for angel or venture capital investment. 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.
Since its inception in 2006, NC IDEA’s grant program has awarded nearly $4M to 98 companies across the state.
About NC IDEA
NC IDEA is a private foundation committed to supporting business innovation and economic advancement in North Carolina. The organization serves as a catalyst for young, high-growth technology companies by promoting initiatives that foster growth and guides these companies to become major contributors to the state’s business community. Currently, NC IDEA works closely with these innovative startups mainly by providing early financing in the form of grants. Since its inception in 2006, NC IDEA’s grant program has awarded nearly $4M to 98 companies across the state. Learn more at www.ncidea.org.