DURHAM – NC IDEA has selected 26 semi-finalists from across the state in its 32nd SEED grant cycle.
“This cycle, the fourth being conducted virtually, received a record number of grant applications,” said Thom Ruhe, president and CEO of NC IDEA, which supports entrepreneurial ambition and economic empowerment. “It never gets easier to narrow down the field, but we remain excited about the diverse cohort of companies moving forward to the next phase. Clearly, COVID hasn’t thwarted the entrepreneurial ambitions of individuals in North Carolina.”
The semi-finalists have been invited to submit a full proposal with greater details by early October. Finalists will then be selected to present before a review panel comprised of experienced investors, industry experts and entrepreneurs.
Grant recipients will be announced in mid-November.
The $50,000 grants are intended to support business activities that validate target markets, reduce risk associated with early stage companies and help companies get to the point of suitability for growth; whether through investment or revenue.