WRAL Tech Wire

Five startups receive grants up to $50,000 each from NC IDEA

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• BioMedomics
• InnerOptic
• Spoonflower
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NC IDEA, a statewide economic development group, is pouring nearly $200,000 into five North Carolina startups.

The grants are non-dilutive, meaning NC IDEA does not take an ownership position in the firms. Each firm could have received as much as $50,000.

The startups reflect a mix of technologies.

BioMedomics and Spoonflower each received $45,000. InnerOptics received $44,965. B2b2dot0 received $40,000, and Arctic was awarded $25,000.

The five recipients:

Arctic – The company has developed “Frostbite,” which it touts as an alternative to herbicides. Designed for lawn care, golf courses and organic farming, Frostbite kills weeds and crabgrass without harming fescue grass, regardless of temperature, according to the company.

b2b2dot0 – The startup offers Web-based business-to-business order-management services in a software-as-a-service format. The solution is designed for enterprises utilizing SAP enterprise resource planning. The firm is based in Raleigh and has an office in Switzerland.

BioMedomics – The company is developing a number of diagnostic platforms and disposable test strips. These could be used at point-of-care facilities and in the field. They are based on diagnostics done at a molecular level. The first product deals with coagulation. BioMedomics is based in RTP.

InnerOptic – The venture has developed a medical device utilizing visualization technology to assist in removal of surface materials from tumors. InnerOptic is based in Hillsborough.

Spoonflower – Offering on-demand printing technology, the new company focuses on fabric products. Customers upload their own designs at Spoonflower’s Web site and print on a variety of fabrics. There is no minimum order. Spoonflower is based in Mebane.

NC IDEA is accepting applications for its next round of grants through Jan. 30. Recipients will be announced in May. Kennedy Covington, Hughes Pittman & Gupton, Square 1 Bank, Hutchison Law Group, and Smith Anderson provide funding support for the program.

IDEA Fund Partners is the for-profit venture financing operation of NC IDEA.

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