Seven Charlotte-area companies were among 101 North Carolina small businesses that won grants designed to help tech startups become profitable.
Gov. Roy Cooper announced yesterday that the One North Carolina Business Program awarded $4.95 million to innovation companies in 22 counties across the state as part of its latest grant round.
The program, founded in 2005, offers state grants to companies that are seeking or have won federal funds through the Small Business Innovation Research and Small Business Technology Transfer programs, according to a news release. Both programs, also known as America’s Seed Fund, support startups that have a high chance of being marketable.
“Support for early-stage technology companies pays off in better jobs, more investment and new ways to make our state a great place to live and do business,” Cooper said in a statement. “These small businesses are tackling society’s most pressing challenges in many areas, including the life sciences, defense and clean energy. Innovative small companies drive growth and competition, keeping our economy healthy and quality of life high.”
There were two types of grants administered in the program’s latest funding round — incentive and matching. Incentive grants support N.C. businesses with the cost of developing SBIR or STTR proposals as the companies prepare for submission to federal agencies. Matching grants provide funding to those that have already received a phase-one SBIR or STRR award. The goal of the matching grant is to fill in holes left by federal funding and attract investment opportunities, the release states. State matching funds amounted to more than $16 million during the latest round.
Four Charlotte-area companies racked up $75,000 each, totaling $300,000 in matching grants. The other local companies received incentive grants.
The SBIR and STTR programs have funded more than $3.7 billion annually to small businesses nationwide. The programs are the largest source of early-stage technology development and commercialization funding for small companies, the release states.
Here are the Charlotte-area companies that received $75,000 in matching grants:
- Amissa Inc., Charlotte
- archAIc LLC, Matthews
- Phase Inc., Cornelius
- Smart Girls HQ, Charlotte
These local businesses received incentive grants:
- iEdapts LLC, Charlotte
- Prohuman Technologies, Concord
- Smart Girls HQ, Charlotte
- Telli Technologies, Charlotte
The number of first-time applicants that received grants was the highest since the One North Carolina Small Business Program was formed 17 years ago. Since 2006, the program has supported 400 companies across the state develop and bring to market high-tech products. One North Carolina has helped create 1,000 jobs in the state and $2 billion in related capital investments.
The program is administered by the North Carolina Department of Commerce. Click here to see the full list of One North Carolina Small Business Program awardees.
