Frequently Asked Questions

What is the grant opportunity?

The NC IDEA Grants program is intended to help companies bridge the gap between idea and private equity funding. NC IDEA plans to award up to $225,000 in “proof of concept” grants, 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.

How do I apply, and what are the deadlines?

Pre-proposals are to be submitted through the NC IDEA Web site by the date indicated in the Timeline section of this website. Approximately a dozen companies will be invited to submit full proposals. Selection of grant recipients is scheduled for May.

What types of companies are eligible?

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

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.

What activities will be supported by the grants?

Grants will not be awarded to fund research or pay salaries. Instead, the 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.

Why is there a “pre-proposal” process?

We designed the program to solicit enough information to make an initial pre-proposal assessment. This process takes less time and effort than the full proposal submission and is designed to not place too much of a burden on applicants to make a pre-proposal submission.

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 advisory committee. There is a template and instructions for this submission on the Web site.

How will you announce the grant recipients?

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

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 and traditional venture capital 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 this related to the venture funding provided by NC IDEA?

There is another process and review board for the venture funding activities at NC IDEA. We will work with companies that successfully prepare for the venture funding process to help through that stage as well.