October 18-20 | Tucson, AZ

The Research Institution GAP Fund and Accelerator Program Summit

North Carolina IDEA Grants Support Five Start-ups For $200K

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October 18-20, 2023 / Tucson, AZ
The annual summit for research institution gap fund and accelerator programs, including proof of concept programs, startup accelerators, and university venture funds

The Story

Emerging technology companies in Durham, Raleigh, RTP, Summerfield and Wake Forest land non-dilutive grants from economic development group NC IDEA.

The organization has now handed out more than $3 million in grants to 82 companies since 2006.

The latest grants were announced early Tuesday. Companies could receive as much as $50,000. 

How much ewach firm will receive is still being determined.

“We are still working on those final details with the companies,” said Andrea Cook, the NC IDEA grant program manager.

NC IDEA, which is the non-profit group associated with venture capital firm IDEA Fund Partners in Durham, selected five winners from a field of 117 applicants. A total of 24 firms were selected to make full-scale proposals for funding.

“We are sure to see some exciting developments from our recent grant winners over the coming months,” said David Rizzo, chief executive officer of NC IDEA. “These five recipients emerged to the top of this cycle’s competitive applicant pool. Our final decisions came down to where our money will make the most impact, certainly for the companies, but ultimately for the state of North Carolina. We look forward to tracking the progress of our winners and working alongside them to become major contributors to the state’s business community.”

The selected firms, with a summary of each as provided by NC IDEA, follows:

  • FokusLabs – Wake Forest

FokusLabs has created a behavior intervention tool for children and adults to help remind users to listen and complete their work. It can be worn by anyone, but was designed with unique features to support individuals with autism and ADHD. FokusLabs’ tactile reminder wristband vibrates based on a proprietary algorithm. This vibration is paired with a simple reminder phrase to prompt users to listen or to get back on task. This patent-pending wristband discreetly fuses psychology with technology, to simulate the gentle reminder of a vigilant teacher or friend. Learn more atwww.fokuslabs.com

  • Guerrilla RF – Summerfield

Guerrilla RF offers high performance RF microchips to improve high speed mobile data coverage. Their products enable better coverage area and higher data rates for cellular and Wi-Fi data networks. Through patent pending technology and deep domain expertise, Guerrilla RF addresses the unmet performance and functionality needs of mobile data infrastructure equipment manufacturers and network providers. Learn more at www.guerrilla-rf.com

  • NIRvana Sciences – Durham

NIRvana Sciences is commercializing novel fluorescent dyes developed at NC State University to improve the performance of medical diagnostic and imaging tests used to identify and treat different types of cancers and infectious diseases. Learn more at www.nirvanasciences.com

  • Panacea Solutions – RTP

Panacea Solutions has created a data driven, robot compound printing delivery platform designed to adapt to an individual’s daily nutritional needs. They replace the need for multiple pills and compounds with a single, convenient good tasting daily packet. These personal packets are customized automatically using advanced robotic technology that is inherently hygienic, accurate and at low cost per packet. The patent pending high speed printing automation enables economic personalization of 30-day supplies that are then directly shipped to consumers. Learn more at www.panacea.me

  • SnapYeti – Raleigh

SnapYeti is the place to find photo contests to compete and win awesome prizes, deals and discounts. For businesses, SnapYeti is an effective marketing tool to incentivize customers and potential customers to actively promote their product/service with friends and family via photo sharing contests. Current photo contest campaign tools are costly, not mobile friendly, and only attract a business’ existing social media followers. SnapYeti is the first photo contest marketplace where businesses can create a free photo contest that reaches new and current audiences on any mobile, tablet or desktop device, while also enabling businesses to create a sales channel via their contest. Learn more at www.snapyeti.com

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