RESEARCH TRAINGLE PARK, N.C. (June 10, 2008) – NC IDEA has recently awarded $183,200 in grants to six early-stage companies throughout North Carolina in the spring cycle of its bi-annual grant program. These awards are the fifth cycle of the grant program.
Since its inception in early 2006, this program has seen over 375 applications and awarded approximately $1M to twenty-seven companies in North Carolina. NC IDEA targets companies who need help crossing the chasm between initial product development and venture capital funding.
The grants, which are up to $50,000 per recipient, support business plan research and development, reduce risk of early failure, and advance projects to the point of self-sustainability when suitable for private equity investors.
The following companies are the spring 2008 grant recipients:
Jute Networks – Asheville based company offers a network relationship management software application. Designed for professionals, the software brings together web based collaboration, social network analysis and data visualization and is offered as a web based on-demand solution.
iCustom – provides an online customization platform that connects clothing designers, consumers and manufacturers. Designers can quickly and cost-effectively offer their creative designs to consumers, consumers can order cut-to-fit clothing, and manufacturers are directly connected to customers (consumers and designers). iCustom will initially target the plus size, Big and Tall and little people markets.
MBright – provides a pocket projector product based on the MBright next generation Liquid Crystal on Silicon microdisplay. MBright will offer pocket size projectors and embedded projectors in portable electronic devices.
Next Ray –offer next generation x-ray machines that provide a detailed diagnostic image with low radiation exposure. Next Ray will initially offer a 2D infant imaging machine and a 3D pediatric CT machine.
Physcient – a surgical instrument company offers a smart surgical retractor for use in thoracic and cardio-thoracic surgery. The iOpener™ decreases patient pain experienced as a result of open-chest surgery.
Valencell – offer the Healthset®, a Bluetooth headset that measures vital signs and physical activity while also performing as a standard hands free audio headset. Personalized assessments of overall health, fitness, and calories burned can be viewed on a smart phone, mp3 player or computer.
