Application Criteria
When evaluating each application NCIDEA will make an assessment of the strengths and weaknesses of each applicant company in the following areas: Idea, Technology, Team, Market, Competition, Strategy, Funding and Impact.
Idea
- Size and significance of problem being addressed
- Benefits, strength, and uniqueness of solution
Technology
- Technology strength
- Stage of development
- Intellectual property
- IP state
Team
- Quality of management team
- Experience of management team members
- Completeness of management team
- Quality of advisors
Market
- Size of the Target Addressable Market (TAM)
- TAM growth rate
- Quality of market assessment
Competition
- Company's competitive advantage
- Number, size and strength of competitors
Strategy
- Revenue model
- Sales and Marketing Plan
- Distribution plan
- Operational plan
Funding
- Prior funding
- Use of grant funds
- Future funding potential
Impact
- Milestones
- Impact of grant funds on company
Grants
Application Suggestions
Use the checklist in the NC IDEA online application system to mark each section complete as you finish each section.
Remember to go back to this criteria list when reviewing your application to make sure you've covered each area and made the strongest case for your company.
