NC IDEA, an organization that assists entrepreneurial companies with pre-venture stage funding via a grant program, announced the commencement of its fall 2008 grant cycle. Interested companies are invited to submit an online "pre-proposal" application through September 12.
Approximately 20 companies submitting "pre-proposal" submissions will be selected to participate in a subsequent full proposal submission and review period from September 29 through October 24. This process will include submission of a more in-depth proposal and budget for use of grant proceeds, and potentially a presentation from the company to a NC IDEA Grants Program review panel. Notification of grant recipients is scheduled for December 2008.
NC IDEA plans to award grants to 3 - 6 companies, with a maximum of $50,000 per company, in December 2008. North Carolina-based companies focused on information technology, medical devices, material sciences or green technologies are invited to apply, with preference given to those that have not received equity financing. An entrepreneur who has not formed a company may apply, but company incorporation will be required prior to the award of grant funding.