< Back to All News

New $1.2 Million Fund Hopes to Help Startup Firms Blossom

North Carolina

Story excerpt provided by The Charlotte Observer
Written by Caroline McMillan

Early-stage startups in the Charlotte area now have a new potential source for funding: Innovation Fund North Carolina, a pilot program planning to award up to $1.2 million in grants and loans to high-tech startups around the state over the next year.

Dozens of entrepreneurs gathered at uptown startup hub Packard Place on Tuesday afternoon to hear about the initiative, which is a partnership between Catawba Valley Community College, Innovation Fund America and the Ewing Marion Kauffman Foundation, which is based in Kansas City, Mo., and is dedicated to entrepreneurship.

The fund is directed at startups involved with agriculture, advanced manufacturing, health care and information technology/communications.

“We know that in North Carolina, the future of our economy is going to be dependent on new business startups and small business,” said Garrett Hinshaw, president of Catawba Valley Community College.