New NC IDEA grant program worth up to $10,000 targets ‘younger companies’

by Rick Smith — April 9, 2018

DURHAM – NC IDEA is looking to boost entrepreneurship across North Carolina at its earliest stages with a new grant program.

Called “micro grants,” the program will offer awards between $1,000 and $10,000.

Set to launch this summer, the grants augment the $50,000 seed grant program that NC IDEA has been offering for more than a decade.

The grants target emerging startups that aren’t quite to level of development needed to secure a $50,000 award.

The economic development foundation recently announced the 25 semifinalists for its latest round of seed grants, which drew a record 185 applications and was the most geographically diverse field to date.

NC IDEA has now awarded more than $5 million to 126 startups through 24 rounds of awards since the program launched in 2006.

Funds are designed to help the startups evolve into commercially viable ventures.

NC IDEA also provides mentoring, use of MBA fellows, in-kind services from attorneys, accountants and marketing consultants.

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