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Applications are now being accepted for a new round of grants from the One North Carolina Small Business Program, a key source of funding for small businesses engaged in research and development that lead to commercial products.

“Innovative small businesses are a vital source of new technologies, and they need capital to convert those technologies into commercial products,” said North Carolina Secretary of Commerce Machelle Baker Sanders. “The One North Carolina Small Business Program provides vital non-dilutive funding to help entrepreneurs move their ideas from tiny sparks into transformative technologies, leading to jobs and company growth in their communities.”

The One NC Small Business Program works in conjunction with two federal technology programs, the Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) programs, which collectively are referred to as America’s Seed Fund.

The state program supports North Carolina companies in two ways. The Incentive Funds portion of the program provides reimbursement to qualified North Carolina small businesses for some of the costs incurred in preparing and submitting Phase I SBIR or STTR proposals to federal agencies. In the 2024-25 fiscal year, a pool of $444,444 is available for these Incentive grants. The Matching Funds portion of the program awards matching grants to North Carolina small businesses who have received a federal Phase I SBIR or STTR award. In the current fiscal year, a pool of $3,655,556 is available to support Matching grants.

Federal SBIR and STTR grants are the single largest source of early-stage technology development and commercialization funding for small businesses—more than $4 billion annually nationwide. North Carolina is among a handful of forward-thinking states with incentive and matching grant programs that leverage federal technology funding to help homegrown businesses commercialize innovative technologies and create jobs.

The One North Carolina Small Business Program is administered by the North Carolina Department of Commerce’s Office of Science, Technology & Innovation (OSTI) on behalf of the North Carolina Board of Science, Technology & Innovation (BSTI). The Program supports early-stage companies at a critical point, shortening the time between their startup and the point where they become larger, sustainable companies. Many past recipients say the vital injection of capital from the state put their companies on a successful trajectory. Since 2006, the Program has helped more than 500 companies in 69 North Carolina cities and 39 counties, resulting in the creation and retention of more than 1,500 jobs, hundreds of high-tech products, and the generation of more than $8 billion in follow-on capital investments.

“Now in its 19^th year, the One North Carolina Small Business Program has an established track record of advancing innovation across the state,” said John Hardin, Executive Director of OSTI. “By supporting small businesses across a variety of industry sectors, including life sciences, military and defense, chemicals, agriculture, computers, communications, pharmaceuticals, energy, materials, and others, the program is helping to diversify North Carolina’s economy and make it more innovative and resilient.”

Applications to the One North Carolina Small Business Program can be accepted until June 30, 2025, or until funds have been exhausted for the program’s 2024-25 fiscal year funding cycle.

Details on how to apply for either the Incentive or Matching grant solicitations, as well as additional program information and application instructions, are posted at: commerce.nc.gov/grants-incentives/technology-funds/one-north-carolina-small-business-program.