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Innovation Fund Offers $1.2M for N.C. Startups

North Carolina

Story excerpt from the Charlotte Business Journal
Written by Adam O'Daniel

Innovation Fund North Carolina plans to award up to $1.2 million to startup technology companies in the Tar Heel State.

An informational meeting will be held at Packard Place in Charlotte at 1 p.m. Sept. 17. All startups with interest in the cash are invited to attend.

Innovation Fund North Carolina (IFNC) has been created through a pilot project between Innovation Fund America, the Ewing Marion Kauffman Foundation and Catawba Valley Community College in Hickory. It is based on the successful model of the Innovation Fund founded in 2007 by the Lorain County Community College Foundation in Northeast Ohio.

"The Innovation Fund North Carolina is a transformational initiative that will be a model of economic growth, job creation and disruptive but positive educational experiences throughout North Carolina,” says Garrett Hinshaw, Catawba Valley Community College president

IFNC will award grants and loans in three cycles in its first year valued at up to $1.2 million. The awards consist of $25,000 grants and up to $100,000 in non-recourse loans.

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