NC IDEA Foundation provided grants to 16 startups in North Carolina. | Stock Photo
NC IDEA Foundation provided grants to 16 startups in North Carolina. | Stock Photo
The NC IDEA Foundation said it awarded $160,000 to more than 10 startups in North Carolina.
The funding for the 16 companies comes from its micro awards program, which, since started in 2018 has provided $770,000 to 77 startups, the foundation said in an October release.
"Spanning cleantech to consumer products to medical devices and software, this group is a great representation of the diverse economic potential of the state," NC IDEA President and CEO Thom Ruhe said in the release.
The companies picked went through a three-month selection process, the foundation said in the release, and added there were 161 applications statewide.
"For many of these young companies, it is their first external validation that they are pursuing something that can become a great company; and it is very rewarding for us to help them on that journey," Ruhe said in the foundation's release.
The selected startups are based in Chapel Hill, Charlotte, Winston-Salem, Raleigh, Belmont, Corneilus, Fayetteville, Durham, New Bern, Knightdale and Matthews.
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