DURHAM — A Newport company is among 15 startups throughout the state to recently receive a grant from the NC IDEA MICRO program.
NC IDEA, a private foundation supporting entrepreneurial ambition and economic empowerment in North Carolina, announced Oct. 28 the organization has awarded $150,000 to 15 North Carolina startups in its third grant cycle of NC IDEA MICRO.
According to NC IDEA, since the inaugural cycle in spring 2018, NC IDEA MICRO has awarded nearly $450,000 to 45 young companies across the state.
Through small, project-based grants, NC IDEA MICRO awards funding up to $10,000 to young companies looking to validate and advance their idea. The program, piloted in spring 2018, was created as an expansion of the foundation’s long-standing SEED grant program to provide funding to younger, promising startups not yet positioned for the foundation’s traditional $50,000 grants.
“Spanning cleantech to consumer products to medical devices and advanced materials, this group shines a bright light on the promising entrepreneurial potential of the state,” said Thom Ruhe, president and CEO of NC IDEA. “We are excited to work closely with these young companies over the coming months, while they serve as examples for others who may be considering an entrepreneurial ambition of their own.”
These 15 NC IDEA MICRO grant recipients were chosen after a three-month competitive application and selection process that drew 156 applications from across the state:
Airlie Wedemeyer, Newport.
Blue Spatial Corp, Asheville.
Light and Charge Solutions, Charlotte.
Nautilus Materials, Concord.
Osprayhygiene, High Point.
Paper Mulch, Fletcher.
Venturing Lifestyle Designs, Raleigh.
In addition to announcing the NC IDEA MICRO grant recipients, the finalists for the 28th cycle of the $50,000 NC IDEA SEED grant were recently chosen from the 23 semi-finalists that had been selected out of 182 competitive applications received earlier last month. These finalists will present before a review panel, and approximately five to seven grant recipients will be announced in mid-November.
The 10 fall 2019 NC IDEA SEED finalists are: Advanced Hydrogen Technologies Corporation (Hickory); Fillaree (Durham); GoodRoads (Charlotte); Green Stream Technologies (Raleigh); Haand Retail (Burlington); Hite Health Solutions (Burlington); MUUKTEST (Raleigh); Pip & Grow (Davidso); Protopia (Cary) and Skilly-do (Wilmington).
Learn more about NC IDEA’s series of competitive grants and programs at ncidea.org.