North Carolina Launches Funding Opportunity for Tech-Based Small Businesses
In an effort to bolster innovation and economic growth, North Carolina has opened its doors to applications for the One North Carolina Small Business Program. This initiative is aimed at technology-focused small businesses within the state, offering financial support to transform innovative ideas into impactful products and services.
N.C. Commerce Secretary Lee Lilley emphasized the importance of supporting start-ups, stating, “Supporting start-ups and creating a high-tech talent pipeline is essential to maintaining North Carolina’s economic competitiveness.” Lilley highlighted that the program has already achieved a significant return on investment for taxpayers and contributed to expanding the state’s innovation ecosystem.
The One NC Small Business Program is designed to work alongside the federal Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) programs, collectively known as America’s Seed Fund. With $4 billion in annual funding from 11 federal agencies, these programs represent the largest source of early-stage technology funding for small businesses in the United States.
Program Components and Funding Details
The state program is divided into two main components: Incentive Funds and Matching Funds. Incentive grants are intended to reimburse eligible expenses incurred by North Carolina small businesses when preparing a federal Phase I SBIR/STTR application. This support is aimed at increasing the competitiveness of North Carolina companies in securing federal funds, with $210,000 allocated for these grants in Fiscal Year 2027.
Matching Funds are available for businesses that have already received a federal Phase I SBIR/STTR award. These funds allow companies to enhance their research efforts for a better chance at Phase II funding. This year, the program has set aside $1,920,000 for Matching grants, with an additional $25,000 available for businesses in areas severely affected by Hurricane Helene for the second consecutive year.
According to Dr. Greg Coppenhaver, Interim Chair of the North Carolina Board of Science, Technology & Innovation, “De-risking early-stage technology development can positively influence private investment.” He stressed the importance of nurturing an entrepreneurial culture to support high-growth potential businesses in the state.
Administration and Impact
The One North Carolina Small Business Program is managed by the Office of Science, Technology & Innovation, part of the North Carolina Department of Commerce, on behalf of the North Carolina Board of Science, Technology & Innovation (BSTI). Since its launch in 2006, the program has supported over 500 companies, resulting in the creation of 2,000 jobs and attracting more than $8.6 billion in additional funding.
Applications for the program will be accepted until June 30, 2027, or until the allocated funds for the 2026-2027 fiscal year are exhausted. Detailed information about the program, including eligibility criteria and the application process, can be found on The Program webpage. For inquiries, contact Chris Schmidt at chris.schmidt@commerce.nc.gov.
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