Posts tagged “NC IDEA”
NC IDEA's commitment to helping develop startups continues with Groundworks Labs even as Joystick Labs becomes a lower priority and with little if any funding available.
The venture capital backed startup, which has been funded locally by Intersouth Partners and NCIDEA, is commercializing technology developed at NC State.
With all the recent programs rolling out to support the launch and growth of new companies, funding remains scarce. If nothing else, lack of cash will keep a damper on entrepreneurs' hopes of flaming beyond control.
Emerging from its own type of stealth mode, the Durham-based new business accelerator helps launch three firms that also receive grants from NC IDEA. Director John Austin, who also runs Joystick Labs, provides an update.
Big solutions could be in the offing from miniscule research and development at the new firm. It recently landed an NC IDEA grant.
BoostSuite, which was launched by iContact co-founder Aaron Houghton, is rolling out a set of tools it says will help clients build web traffic and convert more visitors to buyers.
The venture capital firm follows up on a $36,000 grant its not-for-profit arm NC IDEA Fund awarded Sarda last June. Sarda, which was co-founded by two chip industry veterans, focuses on improving energy efficiency and reducing the size of power components in mobile devices.
The Durham-based firm awards non-dilutive cash grants to startups twice a year. To apply for the next round, firms must submit applications today. A Charlotte entrepreneur and grant winner encourages others to apply.
The environment for new and emerging companies continues to evolve as the collaborative venture of Capitol Broadcasting and NC IDEA drops funding plans. It will focus on mentoring and other services. Meanwhile, the Startup Factory draws over 60 applicants for its first round of funding. TSF has already closed on $5.5 million from an undisclosed California investment group.
Veteran investor Dave Rizzo says the tech accelerator set to launch next spring won't detract from the economic development group's mission of growing new companies. He also says an angel fund may provide additional support.
John Austin, the veteran software and videogame executive who will run "Groundwork Labs," says an accelerator fills a void in the Triangle's entrepreneurial community for building new companies.
The Durham-based company lands backing from Madison River Ventures, IDEA Fund partners and angel investor Greg Cangialosi.