NC IDEA, a private foundation supporting entrepreneurial ventures, awarded approximately $770,000 to 77 companies around North Carolina since founding in 2018. | Adobe Stock
NC IDEA, a private foundation supporting entrepreneurial ventures, awarded approximately $770,000 to 77 companies around North Carolina since founding in 2018. | Adobe Stock
AdaptBionic – based in Chapel Hill – was among 16 North Carolina entrepreneurial endeavors that recently received $160,000 in grants from NC IDEA, a private foundation that provides financial support to North Carolina startups.
NC IDEA’s microgrants usually run up to $10,000 and are meant to help young companies validate and advance their concepts, NC IDEA said in an October release about the grants.
“Spanning cleantech to consumer products to medical devices and software, this group is a great representation of the diverse economic potential of the state,” Thom Ruhe, president and CEO of NC IDEA, was said in the release.
The foundation also has a $50,000 SEED grant program, and the microgrant program was created to help smaller businesses that aren’t yet in a position to need larger grants.
“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 release.
Alerts Sign-up