NC IDEA to Discuss Grant Process and Eligibility During Aug. 16th Web Info Session

Organization Seeking Grant Applications from NC Entrepreneurs and Startups

DURHAM, NC - NC IDEA, an organization committed to supporting business innovation and economic advancement in North Carolina, announced today that it will be hosting a web information session to discuss its grant process and eligibility criteria on Tuesday, August 16th. The session is being held just one day after the official opening of the organization’s twelfth grant cycle.

The session, which will take place from 11:00 a.m. to 12:00 p.m. EST, is aimed at giving potential applicants an overview of NC IDEA’s grant process and criteria. NC IDEA officials will highlight how to apply for a grant, what they look for in an application and what types of companies are eligible for funding. Interested parties can confirm their attendance by visiting www.ncidea.org and following the registration link on the homepage.

The upcoming grant opportunity for NC-based entrepreneurs and companies focused on information technology, medical devices or material sciences opens on Monday, August 15th. There are two pre-proposal deadlines for the Fall 2011 cycle: an early deadline on Friday, August 26th and a final deadline on Friday, September 9th. Due to the competitive nature of the screening process, applicants are strongly encouraged to apply by the first deadline, giving them the benefit of an extended review period and the potential opportunity to be selected to move to the proposal round under early decision. All interested companies must submit an application prior to the final pre-proposal deadline of Friday, September 9th to be considered.

NC IDEA’s grants program is a catalyst for technological breakthroughs developed in North Carolina that have a significant potential to successfully transition into commercially viable high-growth enterprises. The grants, which are up to $50,000 per recipient, support business plan research and development, reduce risk of early failure and advance projects to the point of suitability for angel or venture capital investment. In addition to the funding, NC IDEA and its network of seasoned business and technology partners mentor and guide the grant recipients through the complex growth cycles that young companies encounter, while also connecting the startups with other investors, institutions and business leaders to maximize their prospects for commercial success.

To learn more and apply for an NC IDEA grant, visit www.ncidea.org. Prior to applying, interested parties must complete NC IDEA’s Eligibility Quiz online. In addition, applicants from the Piedmont Triad region can simultaneously apply for PTP NEXT’s Business Competition in tandem with NC IDEA’s application process. PTP NEXT, a region-wide organization committed to the Piedmont Triad’s future economic vitality, announced their inaugural business competition in partnership with NC IDEA in July. To learn more about PTP NEXT, visit www.ptpnext.com.

NC IDEA recently announced the organization’s latest grant recipients from its Spring 2011 cycle: Keona Health, Loyalese, NanoForge, OtherScreen and Sarda Technologies. Since its inception in 2006, NC IDEA’s grants program has awarded approximately $2.1M to 57 companies across the state.

About NC IDEA
NC IDEA, a 501(c)(3) not-for-profit organization, targets promising technology companies that need help bridging the gap between initial product development and venture capital funding. The organization helps young, innovative companies mainly by providing early financing in the form of grants, accelerating the creation of new North Carolina companies and jobs. NC IDEA further supports its grant winning companies by leveraging the organization’s solid partnerships and strategic alliances to assist companies through research phases, business challenges and growth goals. Learn more at www.ncidea.org.

PRESS CONTACT:
Andrea Cook, Grants Program Manager
919.941.5600 x109 • acook@ncidea.org