Prior to submitting an application, we strongly encourage you to step through this brief "eligibility quiz" to determine if your company fits NC IDEA’s funding criteria. This is a self-assessment tool and there will be no specific answer provided at the end of the quiz. If you still have questions regarding your company's eligibility, please feel free to contact us.
Is your company incorporated?
Companies do not need to be incorporated when they apply for an NC IDEA grant, but they must become incorporated if the company is awarded a grant. An LLC structure is considered incorporated.
Is your company headquartered in North Carolina?
Companies must be headquartered or have their base of operations in North Carolina. Companies do not need to be incorporated in the state of North Carolina.
Does your CEO and/or management team reside in North Carolina?
NC IDEA gives preference to companies whose CEO and/or management team resides in North Carolina.
Does your company operate in one of the following industries?
- IT Services
- Manufactured Product
- Medical Device/Diagnostics
NC IDEA gives preferences to companies who are classified in one of the above listed industries. Companies operating mainly in the Biotechnology or Pharmaceutical industries are considered out-of-scope and are therefore NOT eligible for NC IDEA funding.
Does your company operate under either a Consulting or Not-for-Profit business model?
Companies whose primary revenue model is consulting or who are incorporated as a 501(c)(3) are considered out-of-scope and are therefore NOT eligible for NC IDEA funding.
Has your company received any institutional equity funding? This does not include any federal, state or local grants or any funding that is not in exchange of equity, or funding from friends and family.
NC IDEA gives preference to companies who have not received any institutional equity funding to-date.
What is your company's total servicable market?
- $100M or smaller
- $100M - $500M
- $500M or larger
NC IDEA gives preference to companies whose total serviceable market is $500M or larger.
What is your company's current stage of development?
- Idea (still on paper)
- Research (trying to understand feasibility)
- Developing a Product (proof of concept completed)
- Testing (first version of product complete)
NC IDEA gives preference to companies who have at least a proof of concept completed. The further developed the product, the stronger the application will be received.