FAQ

Overview

Eligibility

Application and Review Process

Grant Terms

Overview

What is NC IDEA?

NC IDEA is a private non-profit organization dedicated to helping establish and develop early-stage companies through commercialization of research innovation. The organization is committed to support business innovation and economic advancement in North Carolina.

NC IDEA provides grants to early-stage technology companies. In addition to funding, the organization provides access to business and technology leaders who will mentor and guide entrepreneurs to help them overcome research, product development, sales and product adoption hurdles.

Why was the grant program established?

The NC IDEA Grants Program is a unique source of support designed to bridge the gap between research and commercialization, preparing a new company with the tools needed to seek more conventional private equity, such as venture funding. This funding gap often prevents promising research from reaching commercialization opportunities.

The grants program expands NC IDEA's economic development initiatives to target support for promising research likely to lead to the creation of new companies and jobs in North Carolina. It supplements NC IDEA's early-stage venture funding and its entrepreneurial collaboration programs.

How is NC IDEA funded?

NC IDEA is an independent not for profit organization with an endowment fund.  NC IDEA is not funded by the state of North Carolina.  Income generated from the management of the endowment fund goes to support NC IDEA operations and fund grant awards.

What is the grant opportunity?

The NC IDEA Grants program is intended to help companies bridge the gap between proof of concept and private equity funding.  NC IDEA plans to award up to $200,000 per cycle, with a maximum of $50,000 per company. The objective of the NC IDEA Grant Program is to provide a catalyst that will ultimately produce high-growth companies and jobs in North Carolina.

Have specific amounts been allocated for funding by geographic area of North Carolina?

No specific amounts have been allocated by geographic area. NC IDEA seeks to support startups throughout the state.  We communicate to partners and media throughout the state in order to ensure that all areas have equal opportunities to apply for NC IDEA grants. 

How are NC IDEA grants related to the venture funding provided by Idea Fund Partners?

There is another process and review board for the venture funding activities at our partner organization, Idea Fund Partners.  We will work with companies that successfully prepare for the venture funding process to help through that stage as well.

Eligibility

What types of companies are eligible?

North Carolina-based companies focused on information technology, medical diagnostics and devices, material sciences or green technologies are invited to apply, with preference given to those that have not received equity financing.

What types of companies are NOT eligible?

Companies focused on pharmaceuticals, biotechnology, not-for-profit or consulting are NOT eligible to apply to the NC IDEA grants program.

Can I apply if I have not formed a company?

An entrepreneur who has not formed a company may apply, but company incorporation will be required prior to the award of grant funding.

I am an individual, am I eligible to receive funding?

No. NC IDEA only makes grants to companies.

Application & Review Process

Why is there a "pre-proposal" process?

The pre-proposal process is designed to make an initial company assessment without too much of a burden on applicants. The pre-proposal submission takes less time and effort than the full proposal submission while providing enough information for NC IDEA to make an initial assessment.

What information is needed for a full proposal?

The full proposal provides a more in-depth proposal and budget for use of grant proceeds and potentially a presentation from the company to a NC IDEA Grants Program review panel.

What activities will be supported by the grants?

Grants will support business activities for high-growth companies. Potential activities supported by the grants include development of a business plan, market research and analysis, IP activities or prototype development.

What activities will NOT be supported by the grants?

Grants will not be awarded to fund research or pay founder salaries.

How will you announce the grant recipients?

In addition to being notified individually, NC IDEA will announce the winners in a press release.

How do I apply, and what are the deadlines?

Pre-proposals are to be submitted through the NC IDEA online grants management system by the date indicated in the Timeline section of this website. Approximately ten to twenty companies will be invited to submit full proposals..

What are the most common reasons that applications are denied?

Given the high volume of applications received, The Endowment must select those applications that are most closely aligned with the goals and the mission and values of The Endowment.

If an organization applies to NC IDEA and is denied, can the application be revised and resubmitted?

Yes. However, the organization should seek the guidance of the program officer and/or program associate that reviewed the application to determine if the application should be resubmitted.

If we receive a grant, what kind of progress reports will we have to submit to NC IDEA?

Grantees can expect to submit reports at least every three months so that NC IDEA can monitor the progress of the grant.

What if we still have a question?

If you have a question that is not addressed here, please click here to e-mail your question to The Endowment's grant-making staff. Or you may contact your local regional office.

Can you provide some examples of NC IDEA grants?

You can find previous grants made by NC IDEA by ..................

What percentage of applications will receive funding?

There is no fixed rate of approval for grants from NC IDEA as every year we receive more applications.  Historically; approximately 4-5 companies receive grants each cycle. 

Does NC IDEA make multi-year grants? time frame for grants.....

Yes. The terms for multi-year grants are based on your ability to demonstrate how much time is needed to reasonably accomplish your program goals. Most grants are typically for one to three years.

Can our organization submit more than one application at a time?

While there is nothing to prohibit this, it is advisable that organizations only submit the application that represents the best fit with NC IDEA's grant-making program.

Can funding be provided for organizations from outside of North Carolina?

No.  provided that the proposed funding is used for programs that i.................

What are the application deadlines?

The application timeline can be found in the grants section under timeline.

Can I submit my application by mail, fax or e-mail?

No, NC IDEA does not accept mailed, faxed or e-mailed applications.  All applicaitons must be submitted online using the NC IDEA webgrants grants management tool.

How will I know my application has been received?

Receipt of all applications is acknowledged immediately on screen via the webgrants online grants management tool.  Once you submit your application, if you do not receive an onscreen notification please contact the Grants Manager at (919) 941-5600 , extension 113

How should I assemble and present my application?  change for Webgrants

The proposal narrative should be a maximum of 5 pages in length, typed on standard white paper with a minimum 12-point font size and one-inch margins. Please staple each copy of your Application Cover sheet, Proposal Narrative, Line Item Budget Request, Budget Narrative, Board of Directors List, and the fiscal sponsor MOU (if applicable) together for a total of three separate sets of these Application materials. Please do not use any special folders or bindings to enhance the presentation of your proposal. Please do not send any attachments, other than those requested by The Endowment.

How much can I apply for?

The maximum amount is $50,000 for grants from NC IDEA. Grant amounts vary considerably depending upon the scope and scale of a project. NC IDEA will assess the reasonableness of the budget requested based on the project goals and milestones. 

What is the review and selection process?

Applications are accepted for review twice a  year. NC IDEA acknowledges receipt of all applications via the online grants management system message.  The NC IDEA team meets to review each application. During the course of the review a staff person from NC IDEA may contact the organization for additional information. When reviewing applications, NC IDEA staff evaluates each application on its own merits to determine if the proposal is a fit with NC IDEA goals. The selection process is very competitive.

What budget information is required for the application?

Applicants are required to provide a Line-Item Budget request and a Budget Narrative. The Line-Item Budget Request must include both the total program budget and the amount that is requested from The Endowment. The Budget Narrative should provide a brief description of how the requested funds will be used. You will find a link to a sample budget request and a list of budget narrative definitions as well as other resources for applying to the Endowment's grant-making program in the Applicant Toolbox section of this web site.

Will NC IDEA request any additional information or want to conduct an interview or site visit as part of the review process?

As part of the review process, a representative from NC IDEA may contact your organization for additional information and/or to schedule a site visit/interview.   Contacting the organization for additional information will not be necessary for every application, nor does it indicate that a project will be funded.

Grant Terms

When can I expect to find out if my application has been funded?

We strive to provide funding decisions within the specified time indicated in the Grant Timeline.  Applications that do not fit NC IDEA goals may expect to find out that their application will not be funded during the pre-proposal response time. 

Will grants always be for the full amount requested by the organization?

No. It is possible that The Endowment will award a grant for less than the amount requested by the organization. In reviewing budget requests, The Endowment's grant-making staff considers a number of factors including the reasonableness of the budget request based on the project's goals, term of the program, and resources needed to accomplish the goals of the project.

Will The Endowment fund 100% of my project? What percentage of a project's budget do you typically fund?

While we do not have a standard percentage of a project's budget we will fund, it is not likely that we will fund 100% of the project budget. We believe that an indicator of sustainability and project success is the presence of multiple sources of support.

If we receive a grant, when and how should we expect our grant payment?

If you are awarded a grant, you will receive a Grant Agreement, along with your grant award letter. This document forms your contract with The Endowment for the receipt of the grant. After signing the Grant Agreement and returning it to The Endowment, you will receive partial or full payment of your grant by check in two to three weeks. Subsequent payments are dependent upon timely submission and approval of interim reports.

Grants