North Carolina Makes $2 Million of Funding Available to Support Innovative Small Businesses

Applications to the One North Carolina Small Business Program are now being accepted from technology-based, small businesses that call North Carolina home. Funding from the Program enables innovative companies to advance an idea into a high-impact product or service.

“Supporting start-ups and creating a high-tech talent pipeline is essential to maintaining North Carolina’s economic competitiveness,” said N.C. Commerce Secretary Lee Lilley. “By leveraging federal and private dollars, the One NC Small Business Program has generated 250X return on investment for taxpayers, created more opportunities, and built our innovation ecosystem.”

The One NC Small Business Program complements the federal Small Business Innovation Research (SBIR)/Small Business Technology Transfer (STTR) programs, which are collectively known as, America’s Seed Fund. With participation from 11 federal agencies, this $4 billion of annual funding is the single largest source of early-stage technology development and commercialization funding for small businesses nationwide.

The State program consists of two components: Incentive Funds and Matching Funds. The Incentive grant reimburses qualified North Carolina small businesses for eligible expenses incurred while preparing a federal Phase I SBIR/STTR application. This support encourages more North Carolina companies to compete for federal dollars and gives them access to resources that can strengthen their federal application. In Fiscal Year 2027, $210,000 is available for Incentive grants.

The Matching Funds are awarded to North Carolina small businesses that have already secured a federal Phase I SBIR/STTR award. State funds allow companies to enhance their Phase I research to be more competitive for Phase II funding. This year, $1,920,000 is available to support these Matching grants. For the second year in a row, Matching Funds recipients located in an area severely impacted by Hurricane Helene will be eligible for an additional $25,000.

“De-risking early-stage technology development can positively influence private investment,” said Dr. Greg Coppenhaver, Interim Chair of the North Carolina Board of Science, Technology & Innovation. “It is important for the state to foster the entrepreneurial culture and support these home-grown businesses with high-growth potential.”

The One North Carolina Small Business Program is administered by the North Carolina Department of Commerce, Office of Science, Technology & Innovation on behalf of the North Carolina Board of Science, Technology & Innovation (BSTI). The Program supports early-stage companies at a critical time in development. Since its inception in 2006, the One North Carolina Small Business Program has assisted over 500 companies resulting in 2,000 jobs and over $8.6 billion in follow-on funding.

Applications for the One North Carolina Small Business Program will be accepted until June 30, 2027, or until funds have been exhausted for the 2026-2027 fiscal year funding cycle.

Full details of the One North Carolina Small Business Program, including eligibility criteria and access to the online application portal, are available at The Program webpage. Questions may be directed to Chris Schmidt at chris.schmidt@commerce.nc.gov.

Legal Disclaimer:

EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.