NC IDEA MICRO grant provides small amounts of funding to entrepreneurs who are testing a big, new business idea.
Donor Name: NC IDEA
State: North Carolina
County: All Counties
Type of Grant: Grant
Deadline (mm/dd/yyyy): 02/28/2022
Size of the Grant: $10,000
Details:
Through small, project-based grants, NC IDEA MICRO awards $10K in funding to young companies looking to validate and advance their idea. they have found that funding, paired with mentorship and guidance, early in a company’s lifecycle, can make a significant impact on future success.
Funding information
NC IDEA MICRO couples $10K in funding with a six to eight-week program to accelerate your company’s progress.
Benefits
During the grant period, and continuing once companies become MICRO alumni, grant recipients can take advantage of:
- Opportunities to participate in monthly seminars and workshops on topics such as marketing, sales, and meeting with fellow founders
- Access to NC IDEA staff to get feedback on pitches, funding opportunities, market pivots, and other topics facing your startup
- Introductions to potential partners, mentors, advisors, funders, and customers
Eligibility Criteria
The NC IDEA MICRO evaluation process is rigorous and extremely competitive. Companies must meet the following criteria in order to be considered for an NC IDEA MICRO grant.
- Geography
- NC IDEA MICRO grants are specifically targeted at companies headquartered in and that conduct a majority of corporate operations in the State of North Carolina. All publicly facing materials, including website, social media, and other marketing materials and channels should identify the business as a North Carolina company.
- Industry and Company Type
- NC IDEA MICRO grants are awarded to companies bringing an innovative product or business model to the market. We prefer companies with proprietary intellectual property or other means of sustained competitive advantage that are solving large problems.
Companies with high capital requirements and a long runway to commercialization, such as pharmaceutical companies, are not eligible. Other companies that are considered out of scope and not eligible for grant funding include consulting practices or agencies; training companies; tv/film production companies; distributors; franchises; resellers; local, service-oriented small businesses (i.e. restaurants, retail stores) and other “lifestyle” companies; and not-for-profits.
- NC IDEA MICRO grants are awarded to companies bringing an innovative product or business model to the market. We prefer companies with proprietary intellectual property or other means of sustained competitive advantage that are solving large problems.
- Stage of Development
- Companies are working to demonstrate proof of concept (existence of a problem, market readiness, and an MVP) and are prepared to leverage a $10K grant to move to a quantifiable next step of validation.
- Revenue
- Companies that have revenue in the last 12 months of more than $50K are less likely to be considered.
For more information, visit MICRO grant.