New Grant Opportunities for Innovation in North Carolina
In a significant move to bolster innovation and economic growth, the One North Carolina Small Business Program has opened its latest round of grant applications. This program is a vital financial resource for small businesses specializing in research, development, and bringing new commercial products to market.
North Carolina Secretary of Commerce Lee Lilley emphasized the importance of supporting emerging companies, stating, “Young companies are responsible for the majority of net new job creation. The One NC Small Business Program provides funding to help these young companies bridge the gap between innovation and the marketplace, creating great jobs and new products that change the world.”
The One NC Small Business Program works alongside federal initiatives like the Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) programs, collectively branded as America’s Seed Fund™. These programs provide essential non-dilutive funding to small businesses pushing the frontiers of technology at early stages.
With federal SBIR and STTR grants, small businesses gain the financial support needed to validate ideas, partner with research institutions, and speed up the commercialization of pioneering technologies. These programs, backed by eleven federal agencies, distribute over $4 billion annually across various tech sectors. North Carolina’s program complements this by matching state funds with federal awards, enhancing the potential for successful commercial products and delivering a substantial return on the state’s investment.
The state program features two main components. The Incentive Funds component reimburses eligible North Carolina small businesses for costs related to preparing federal Phase I SBIR/STTR applications, with $200,000 earmarked for Fiscal Year 2026. Meanwhile, the Matching Funds component provides grants to businesses that have secured federal Phase I SBIR/STTR awards, with $1,876,560 available for these grants, supporting roughly 25 Incentive and 25 Matching grants in FY 2026.
Administered by the North Carolina Department of Commerce’s Office of Science, Technology & Innovation (OSTI) for the North Carolina Board of Science, Technology & Innovation (BSTI), the program is designed to support early-stage companies at pivotal points. It helps them reach crucial milestones, reduce risks, and attract future investments. Since its inception in 2006, the program has aided over 500 companies in 40 counties across North Carolina’s eight Prosperity Zones, leading to the creation of over 2,000 high-paying jobs and over $10 billion in follow-on capital investments.
Sheila Mikhail, Chair of the BSTI, remarked on the program’s enduring impact, saying, “In this 20th year of the One NC Small Business Program, we are pleased to continue to provide support to high-growth innovative companies developing and commercializing new technologies that enhance people’s lives and increase economic prosperity throughout North Carolina.”
Interested businesses can submit applications for the One North Carolina Small Business Program until June 30, 2026, or until the allocated funds for the Fiscal Year 2026 cycle are fully distributed. Details on application procedures, eligibility criteria, and more can be found at: commerce.nc.gov/grants-incentives/technology-funds/one-north-carolina-small-business-program.
Read More Here
