NC IDEA Foundation announces Micro-Grant Pilot Program

Press release from NC IDEA Foundation:

NC IDEA, a private foundation committed to supporting entrepreneurial ambition and economic advancement in North Carolina, announced today a Micro-Grant Pilot Program to help more promising startups who need financial resources to take their next step.

An expansion of its long-standing NC IDEA SEED grant program, this Summer’s Micro-Grant Pilot Program will award project-based grants in the amount of $1,000-10,000 to young companies looking to validate and advance their idea. Grant recipients will also receive mentorship and assistance from NC IDEA, as well as access to its wide network of advisors, partners and investors. The Micro-Grant Pilot Program is targeted at NC-based startups with innovative products that have the potential of becoming a $5 million company in 5-7 years. NC IDEA is particularly seeking applications from companies in North Carolina’s rural and economically distressed counties.

“We are expanding our long-standing NC IDEA SEED grant program to companies at an earlier stage,” says Thom Ruhe, President and CEO of NC IDEA. “We are seeing an increase in the number of young companies where deploying smaller amounts of money could make an even bigger impact. Providing these micro-grants will allow us to serve more promising companies and better enable under-resourced, early stage ambitious founders to advance their idea.”

Interested applicants can attend any of several upcoming online and in-person info sessions, as well as Virtual Office Hours during the month of April to gain more insight on the characteristics of a competitive application and answer specific questions. More information and a schedule of these sessions is available online here. The application is available online now through May 14 at 5 p.m. EST.

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