This grant program is significant because it offers capital and support to promising new companies in the state, helping them develop and commercialize innovative technologies, create jobs, and attract investment.
The One North Carolina Small Business Program works with federal technology grants, SBIR and STTR, to provide funding for North Carolina companies.
Changes to the program now allow it to support companies in preparing and submitting initial proposals to the federal government.
Grant awards from the program help small businesses develop and commercialize innovative technologies, leading to job creation and investment in communities.
The Incentive Funds initiative provides reimbursement to North Carolina businesses for costs incurred in preparing and submitting Phase I SBIR or STTR proposals.
The Matching Funds initiative awards matching funds to businesses that have already received a federal Phase I SBIR or STTR award.
In the 2023-24 fiscal year, $400,000 is available for preparation grants, and over $2.4 million is available for matching grants.
North Carolina is among a few states that leverage federal technology funding to support homegrown businesses and promote innovation.
The One North Carolina Small Business Program is an important source of capital and support for emerging technology companies in the state. By offering grants and matching funds, the program helps these companies develop and commercialize innovative technologies, creating jobs and attracting investment. Applications for the program can be submitted until June 30, 2024, or until funds have been exhausted for the current fiscal year.