DURHAM, N.C. – NC IDEA will open its 19th grant cycle on Feb. 9 with a revised review process to encourage applicants across diverse funding stages.

The upcoming cycle will kick-off with a series of spring information sessions being held throughout North Carolina.

• Feb. 6: Wilmington Info Session hosted by UNCW Center for Innovation and Entrepreneurship
• Feb. 9: NC IDEA Spring 2015 Info Session **via WEBINAR**
• Feb. 10: Triad Info Session hosted by Flywheel
• Feb. 11: Triangle Info Session
• Feb. 12: Charlotte Info Session hosted by Packard Place

New this cycle, NC IDEA will be evaluating applications in two categories based on the company’s current funding position.

Companies that have raised less than $50,000 in equity will be evaluated against each other, while those that have raised more than $50,000 in equity funding will be compared with one another. The intent of an NC IDEA grant is to enable acquisition of first or further equity, therefore revising the review process should create a more objective approach to looking at applicants across various stages.

“In recent cycles, we have seen a broad spectrum of applicants in terms of equity raised,” said David Rizzo, president and CEO of NC IDEA. “By ensuring that companies in various stages of funding are properly compared to each other, we hope to encourage companies that aren’t as far along to apply knowing they will be reviewed only against their counterparts.

“On the flip side, added Rizzo, “we hope to see companies that have already received some funding convince us that our $50,000 can make a difference. Grants will ultimately be awarded where the funding will make the most impact.”

Interested applicants may attend any of the five information sessions being held in-person and via webinar to learn more about the grant process and criteria.

The upcoming grant opportunity for NC-based entrepreneurs and companies, and those looking to locate to North Carolina, will open on Monday, February 9th. Companies focused on software, information technology, medical devices or material sciences are encouraged to apply.

There are two pre-proposal deadlines for the spring cycle: an early deadline on Friday, Feb. 20 and a final deadline on Friday, March 6.

In addition to the funding, NC IDEA and its network of seasoned business and technology partners mentor and guide the grant recipients through the complex growth cycles of young companies, while also connecting the startups with other investors, institutions and business leaders to maximize their prospects for commercial success.

Since its inception in 2006, NC IDEA’s grant program has awarded over $3.7 million to 93 companies across the state.