The North Carolina Board of Science, Technology, and Innovation announced it awarded 117 grants – worth a total of $4.95 million – to 101 North Carolina small businesses to advance innovative, next-generation technologies through the One North Carolina Small Business Program.
The program provides state grants to companies that are pursuing or have won Federal awards through two Federal programs, the Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) programs. This year, it awarded grants to companies in 22 counties across the state.
“Support for early-stage technology companies pays off in better jobs, more investment, and new ways to make our state a great place to live and do business,” said Gov. Roy Cooper in a press release. “These small businesses are tackling society’s most pressing challenges in many areas, including the life sciences, defense, and clean energy. Innovative small companies drive growth and competition, keeping our economy healthy and quality of life high.”
Small businesses were able to receive two types of state grants during the new funding round: Incentive grants and Matching grants.
The One North Carolina Small Business Program is administered by the North Carolina Department of Commerce on behalf of the North Carolina Board of Science, Technology, and Innovation.
“Recognizing the continued importance of fostering innovation statewide, this year the Board took deliberate action to create a larger and geographically diverse cohort,” said Rick Webb, chair of the board’s Outreach and Funding Committee.
“The Board’s actions are bearing fruit in more cities and counties. Demand for this program is strong and growing, and with increased funding, we can help North Carolina companies stay competitive as other states start to offer similar support for their small businesses,” Webb added.