Posts tagged “NC IDEA”
Economic development group NC IDEA is adding four members to its board, replacing three others who recently left. NC IDEA annually invests hundreds of thousands of dollars in funding to North Carolina startups.
NC IDEA has selected 19 startups from around North Carolina as semifinalists in its latest rounds of grants. Nearly 100 firms applied for the non-dilutive grants which can be worth as much as $50,000.
In the past couple of years, an unprecedented number of venture-backed companies have closed financings of $100M or more at valuations above $1 billion. This phenomenon has led to grumbling by some--most notably, Silicon Valley venture capitalist Marc Andreessen--that the "IPO is dying" and that individual investors are "missing out" on what used to be great opportunities to ride exciting young companies from their IPOs onward. Is that really the case?
Among all the efforts focusing on boosting startups in the Triangle these days, Groundwork Labs is unique. It's free. And now the program, which is funded by economic development group NC IDEA, is reaching beyond the Triangle to help startups by the offering of a housing stipend. John Austin, director of Groundworks, talks about the new program, how Groundworks is different, and the success it has had so far in helping grow new businesses from the ground up.
Since its inception in 2006, NC IDEA's grant program has awarded more than $3.4 million to 88 companies across the state. On Monday, NC IDEA announced that the organization's 18th grant cycle will open on Aug. 11 with a series of information sessions being held throughout North Carolina.
John Cambier of IDEA Fund Partners and NC IDEA in Durham is an investor who deals daily with startup entrepreneurs. He offers a counterpoint to a recent post published in ExitEvent and WRAL TechWire that cites a recent report linking unemployment and entrepreneurship.
Rami Essaid, Engin Akyol and Andrew Stein turned their educations at N.C. State into fast-growing tech security startup Distil Networks but left North Carolina to launch the venture-backed firm. Now they are returning to Wolfpack country by opening an office in Raleigh. And they are hiring. We have the details in an exclusive interview for WRAL TechWire Insiders.
Today's "Startup blog:" If you are an entrepreneur looking for insight into attracting investors, don't miss the opening day of a two-part series from the Council for Entrepreneurial Development about "Raising dough."
Today's "Startup blog" - the first in a regular addition to WRALTechWire's lineup - focuses on Triangle and NC startups, an IPO update, and a kickstarter success. Check out details about Square 1 Bank, NC IDEA's application deadline, CED's fund-raising series, Mohu's kickstarter success, and a mentoring program from Up Global NEXT.
The economic development group NC IDEA is funneling $250,000 to the Council for Entrepreneurial Development to help the CED implement a strategic shift. But what does that mean? The CED isn't talking. Meanwhile, its lead person on last year's big data project - called TriangulateNC - has left. Plus, not everyone in the Triangle startup community endorses the NC IDEA grant. WRALTechWire takes an in-depth look at what's happening with the CED in an exclusive story for our Insiders.
Like any non-profit organization, the Council for Entrepreneurial Development faces a never-ending need to raise money from donors and sponsors. But the $250,000 grant from NC IDEA - the biggest ever given in one sum by the group - is a huge shot-in-the-arm of cash that gives CED leaders a chance to spend less time raising money and more time fueling further growth of the Triangle's resurgent tech community. The $135 million sale of Digitalsmiths is proof CED is crucial to the region's continued growth. And the CED says it has new plans for its future. NC IDEA has bought in. CED must now deliver.
NC IDEA, an economic development group in Durham focused on helping startups across the state, is giving $250,000 to the CED, which is also focused on giving entrepreneurs assistance in growing new ventures. The grant is to be spread out over three years with funds to help launch a new "information bank."
Emerging technology companies in Durham, Raleigh, RTP, Summerfield and Wake Forest land non-dilutive grants from economic development group NC IDEA. The organization has now handed out more than $3 million in grants since 2006.
If there is anything more valuable to an entrepreneur launching a new venture than the idea driving a new company, it is networking - not financing. As the potential big hit story of GoGowns - a creation of a registered nurse in Durham - clearly shows, making the right connections can open the doors of success. Just ask Ginny Porowski.
NC IDEA has narrowed its list of emerging startups that could receive non-dilutive grants up to $50,000 to 24 from a field of 117 applicants. The number of applicants declined from earlier this year, but that's typical, NC IDEA says. One company asked not to be identified.
The Durham-based economic development group puts on an event in conjunction with a Angel Capital Association meeting and the annual CED Tech Venture conference to show off emerging ventures it believes have the potential to become successful enterprises. WRALTechWire Insiders get the full story, including snapshots on the 10 firms that were in the showcase.