North Carolina
State Resources
The Economic Development group at the North Carolina Department of Commerce serves as the primary liaison on economic development matters in the state Within this group, the North Carolina Office of Science, Technology & Innovation administers policies and programs that “accelerate both the development of next-generation technology companies and the adoption of technology across existing industry.”
The One North Carolina Small Business Program
Administered by the Office of Science, Technology & Innovation, the One North Carolina Small Business Program helps fund North Carolina businesses in capital-intensive, high-risk industries in science, technology, engineering and math. The office runs two programs
SBIR/STTR Phase I Incentive Funds Program: provides awards of up to a maximum of $12,000 funding to help North Carolina businesses apply for federal Phase I Small Business Innovation Research (SBIR) or Small Business Technology Transfer (STTR) awards.
SBIR/STTR Phase I Matching Funds Program: awards matching funds of 50% of the Federal SBIR/STTR Program award amount, not to exceed $75,000 to North Carolina businesses who have received a federal Phase I SBIR or STTR award.
North Carolina Biotechnology Center
The North Carolina Biotechnology Center (NCBiotech) is a state sponsored organization that supports companies engaged in biotechnology. NCBiotech offers several programs designed to fill funding gaps in the technology development process and growth by providing loans.
Strategic Growth Loan:
Strategic Growth Loan (SGL) program supports North Carolina life science companies reach milestones that can then enable follow-on equity investment and/or commercialization. SGL consists of senior, unsecured loans between $350,000 to $650,000 and require an equity investment match of an equal or greater amount from a qualified investor or investor syndicate. Higher value awards (up to $650,000) are reserved for exceptionally well-qualified applicants who have a matching investment from a top-tier life science investment group.
Small Business Research Loan:
Small Business Research Loan (SRL) program provides investments of $150,000 to $350,000 to innovative early-stage life sciences companies in North Carolina. The program supports R&D activities that advance commercially viable technologies and products. The program also provides business development activities intended to help the company position itself for investor funding or partnering opportunities.
North Carolina Ag Tech Loans:
North Carolina Ag Tech Loans program provides funding to early-stage promising Agricultural technology companies. These awards, ranging from $100,000 to $250,000, are intended to advance innovative technology impacting agriculture or agribusiness.
