North Carolina Awards $2 Million in Grants to Innovative Small Businesses

The North Carolina government has awarded $2 million in grants to 65 innovative small businesses through the One North Carolina Small Business Program. These grants will support the development and commercialization of groundbreaking new technologies.

Why It Matters:

The grants provided by the state are essential for supporting the growth and success of small businesses in North Carolina. By investing in early-stage technology companies, the state is fostering job creation, promoting innovation, and addressing societal challenges in sectors like life sciences, defense, agriculture, and clean energy.

The Details:

• The One North Carolina Small Business Program has awarded matching grants to 65 companies across 19 counties in North Carolina.

• The grants, ranging up to $75,000, are equivalent to 50% of the federal Small Business Innovation Research and Small Business Technology Transfer awards received by the companies.

• The funded projects cover a wide range of technologies, including bidirectional converters for military vehicles, reminiscence therapy tools for Alzheimer's patients, salt-composite materials for waste heat storage, and wearable technology for measuring biomarkers.

• The grants are sponsored by various government agencies, such as the United States Army, Department of Defense, National Institutes of Health, and Department of Energy.
  The North Carolina Board of Science, Technology & Innovation administers the One North Carolina Small Business Program.

Conclusion:

The grants provided by the One North Carolina Small Business Program are crucial for supporting the growth of innovative small businesses in the state. By investing in these companies, North Carolina is fostering economic growth, creating high-paying jobs, and positioning itself as a top destination for business.