Meet 15 NC startups that just won $10,000

DURHAM – NC IDEA has awarded $150,000 in grant money to 15 North Carolina startups in the ninth NC IDEA MICRO grant cycle, the organization announced earlier on Tuesday afternoon.

The $10,000 grants are intended to be small, project-based grants awarded to “young companies looking to validate and advance their idea,” according to NC IDEA.

Initially piloted in 2018 as an expansion of the nonprofit foundation’s long-standing SEED grant program, the organization has now awarded a total close to $1.5 million in small grants to companies.

NC IDEA SEED grants are typically awarded in the amount of $50,000 and are non-dilutive grants intended for companies that have already demonstrated proof of concept in order to take the next step of growth.

This cycle’s 15 grantees hail from across the state, from Wilmington to Hendersonville and from Fayetteville to Fairview. Still, 10 of the 15 awardees hail from either the Triangle or the Charlotte area. The 15 selected grantees were chosen after a three-month process, under which NC IDEA considered applications from 135 companies.

“We have seen yet another competitive cycle and a continued need for funding and support from all parts of the state,” said Thom Ruhe, President and CEO of NC IDEA in a statement. “These young companies speak to the economic potential of North Carolina and they represent the great work of our ECOSYSTEM partners to level the playing field for all promising startups with 13 of the 15 grant recipients representing under-served communities,” Ruhe added.

Last year, the organization awarded 22 MICRO grants in the fall cycle. Earlier this year, the organization awarded 15 grantees with $10,000 in the spring cycle.