Prior to submitting an application, you should step through this brief eligibility quiz and self-assessment to determine if your company fits NC IDEA’s funding criteria.
1. Has the company applying for the grant been 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 any grant money.
2. Is your company headquartered in North Carolina?
Qualified companies don’t need to be incorporated in NC, but they must be headquartered or have their base of operations in North Carolina.
3. Does your CEO/Management team reside in NC?
NC IDEA gives preference to companies whose management team resides in North Carolina.
4. Does your company operate in one of the following industries?
Medical Devices and Diagnostics
NC IDEA gives preference to companies who are classified as Software, Information Technology, Medical Devices and Diagnostics, Semiconductors, Material Sciences or Clean/Green Technology. Companies operating mainly in the Pharmaceutical or Biotechnology industries are considered "out-of-scope" and are therefore NOT eligible for NC IDEA funding.
5. Does your company operate under either of the following business models?
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.
6. 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.
7. What is your company’s total serviceable market?
$100M or smaller
$100M - $500M
$500M or larger
NC IDEA gives preference to companies whose total serviceable market is $500M or larger.
8. 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 your application will be received.
Thank you for completing the NC IDEA Eligibility Quiz. Please review the Grant Guidelines and Application Requirements sections of this site before proceeding. To contact us with further questions, please email us at email@example.com.