One North Carolina Small Business Grants Go to 40 Companies | Eastern North Carolina Now

    Raleigh, N.C.     Governor Pat McCrory announced today that promising North Carolina technology firms are moving closer to their next stage of growth thanks to grant awards from the One North Carolina Small Business Fund. In 2015-16, 40 companies across 16 communities received awards from the fund, totaling $1.95 million in grants.

    "These awards enable home-grown North Carolina businesses to bring exciting new technologies to the global marketplace, and in the process create great jobs here at home," said Governor McCrory. "The One North Carolina Small Business Fund is a highly effective tool in supporting our state's innovation economy."

    Sixty-three percent of the program's awards during the last year went to biotech-related companies. I/T firms constituted 16 percent of awardees. Other recipients included firms in advanced materials, photonics and defense. The program matches federal funds awarded through the Small Business Innovation Research (SBIR) and Small Business Technology Transfer (SBTT) programs.

    Recipient companies engage in cutting-edge research that seeks to address pressing challenges. Mycosynthetix Inc, a Hillsborough life sciences firm, is pioneering new therapies to fight deadly water-born amoebas. "The One NC matching fund program enables us to leverage our research activities into the discovery of new medicines for rare infectious diseases, while at the same time growing our company and our reputation," said Dr. Cedric Pearce, chief executive office at Mycosynthetix, one of the current award recipients. The company currently employs a full-time staff of four.

    "Early-stage funding is often what keeps technology companies alive in their infancy and youth and puts them on the path toward success," said Dr. John Hardin, executive director of the North Carolina Board of Science, Technology and Innovation, which administers the One NC Small Business Fund. "One NC Small Business grants enable firms to boost their technology commercialization efforts, thus making emerging technologies more competitive for angel and venture capital funding, which speeds their access to market."

    North Carolina Commerce is currently accepting applications for the 2017 fiscal year. Eligible applicants must receive a federal SBIR/STTR grant between July 1 2016-June 30, 2017. For additional information, click here.

• Contact: Crystal Feldman
•     govpress@nc.gov