NC Idea said Monday that five Triad and Northwest North Carolina companies have been selected for the semifinal round of its 32nd annual SEED grant cycle.
NC Idea is a private foundation committed to supporting entrepreneurs and economic empowerment.
The five regional companies are: Beam Dynamics LLC of Winston-Salem; GreenLifeTech Corp. of Banner Elk; HBCU Tour of Greensboro; Medherd of Winston-Salem; and RainbowMe Inc. of Greensboro.
Finalists will be selected to present before a review panel comprising experienced investors, industry experts and entrepreneurs.
Grant recipients will be announced in mid-November. The $50,000 grants are intended to support business activities that validate target markets, reduce risk associated with early-stage companies and help companies get to the point of suitability for growth; whether through investment or revenue.
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