The grant application process is conducted in three stages; the pre-proposal, full proposal and presentation.
The pre-proposal requires a short and broad description of the project with details about the plan for the project during the next 12 months, and expectations for the future of the company.
If your company is invited to submit a full proposal you will receive an invitation via email. The full proposal instructions will be available for download. Project proposals are approximately 10 pages in length describing, with additional detail, important aspects of the future business.
A detailed budget for the activities to be funded with the NC IDEA Grant must accompany the project proposal. Budgets must be realistic and reasonable for achieving project goals. The amount requested must match the required project activities and cannot exceed $50,000. Entrepreneurial frugality is encouraged, and will be taken into account when evaluating proposals.
Program managers for proposals that best fit the evaluation criteria will be asked to discuss their projects with a panel of reviewers. The review panel is made up of NC IDEA staff, MBA consultants and external reviewers with entrepreneurial and venture investment experience. The format for this event will be a short presentation followed by a Q&A session. Following the presentation, companies will be notified of their grant award status. Those companies not awarded a grant will be invited to schedule a detailed feedback session with NC IDEA.