Thursday, January 9, 2014

Innovation Fund North Carolina now accepting applications from entrepreneurs leading high-tech startups for its second cycle of investments

Media Contact

Deborah K Frendak
(828) 315-0083 mobile

HICKORY, NC – Jan. 8, 2014 – Innovation Fund North Carolina (IFNC), a statewide initiative created to help foster economic growth and education through innovation, is now accepting applications for its second cycle of investments.  Entrepreneurs involved with technology startups in agriculture, advanced manufacturing, health care and IT/communications are encouraged to apply. IFNC will award pre-seed funding in the form of $25,000 grants and up to $100,000 in non-recourse loans during its second cycle. Interested applicants can apply online at Feb. 7.
IFNC has three funding cycles annually.  On Dec. 17, 2013, IFNC announced investments of grants and non-recourse loans totaling $300,000 to eight startups throughout North Carolina.  Please visit our website for more information regarding the recipient companies.

IFNC’s applicants go through a rigorous process designed to ensure that entrepreneurs benefit from the interaction with IFNC staff and other entrepreneurial resources while advancing core community and economic development objectives. Successful applicants must agree to milestone-driven plans and intensive mentoring programs. Awardees are required to be headquartered in North Carolina for a minimum of six years as well as offer educational opportunities, including internships for students.

About Innovation Fund North Carolina
Innovation Fund North Carolina (IFNC) aims to bridge the financial barrier, which occurs after entrepreneurs have exhausted personal financing, and before their companies are attractive to angel investors, venture capitalists and bank lenders—the time in which most startups fail. In addition to pre-seed funding, education and mentoring resources are provided to all awardees. IFNC is funded by financial donations from businesses, organizations and individuals.  IFNC's founding partners include Catawba Valley Community College, Fayetteville Technical Community College and the City of Conover. For more information, please visit

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