Print
Entrepreneurs

NEW Receives Ecosystem Grant To Start Entrepreneurship Program

By Johanna Cano, posted Dec 10, 2020
Network for Entrepreneurs in Wilmington has won a grant from NC IDEA to support a new program for local startups and entrepreneurs.

NC IDEA announced on Thursday the 17 organizations in the state chosen from 65 applicants that are recipients of the NC IDEA ECOSYSTEM grant.

NEW partnered with the University of North Carolina Wilmington's Center for Innovation and Entrepreneurship; Genesis Block; and Karl Ricanek, of Lapetus Solutions, to apply for the grant.

“There hasn’t been a more vital time in recent history to support the organizations that are helping people start high growth companies,” Thom Ruhe, CEO and president of NC IDEA said in a news release. “Adding these 17 organizations’ efforts to our ECOSYSTEM partner network will improve our ability to support new firm formation and the jobs they create, which will be vital to our economic recovery.”

The grant will fund Precelerator, a two-to-three-month program in which early-stage companies will work with regional experts on the Lean Business Canvas, NEW founder Jim Roberts said in an email. Lean Business Canvas includes training on topics such as problem, solution, key metrics, unique value proposition, cost structures, revenue streams and more.

Through the partnership, Genesis Block will host a program that will serve as a feeder for the Precelerator, Roberts said.

“We believe this Precelerator program will lead to more local investment as we help fill the knowledge gaps in our local entrepreneurs who are often first-time founders,” Roberts said in a NEW newsletter Thursday. “We will be using guides like the Lean Business Canvas to set a baseline of understanding of business basics. I like the term, a Scaffolding program, or supporting the business while the business is growing and maturing.”

Roberts said a program like this is important for the region because there has recently been a lack of startups winning grants or being selected for pitch contests. This program will help startups with preparing for large funding and grant opportunities.

While NEW received $62,000 in the grant, that is half of what it applied for. This means that it may run a one-year program and, depending on its success, search for private funding to continue it.

This year’s grant required applicants to focus on supporting “under-represented” entrepreneurs, which include women, minorities and those from Tier 1 and Tier 2 countries as identified by the N.C. Department of Commerce.

“While a Wilmington startup has never been chosen for a Techstars-level accelerator, we want to do a better job of preparing the local startups for that opportunity,” Roberts said.
Ico insights

INSIGHTS

SPONSORS' CONTENT
Jessiepowellheadshot webversion

5 Reasons to Build Custom Franchise Software

Jessie Powell - Wide Open Tech
Gretchen roberts 2021

5 Finance Topics Every Small Business Owner Should Master

Gretchen Roberts - Red Bike Advisors
Jordain 422430214

Why Messing Up is Essential for Business and How to Do it More

Jordan Cain - APPROVE

Trending News

YMCA Eyes Growth With Plans For New, Expanded Facilities

Emma Dill - Apr 23, 2024

Burns, Redenbaugh Promoted At Coastal Horizons

Staff Reports - Apr 23, 2024

Cold Storage Developer Sets Near-port Facility Completion Date

Audrey Elsberry - Apr 24, 2024

Wilmington Financial Firm Transitions To Wells Fargo's Independent Brokerage Arm

Audrey Elsberry - Apr 24, 2024

Krug Joins Infinity Acupuncture

Staff Reports - Apr 23, 2024

In The Current Issue

With Coffee And Cocktails, Owners Mix It Up

Baristas are incorporating craft cocktail techniques into show-stopping coffee drinks, and bartenders are mixing espresso and coffee liqueur...


Info Junkie: Lydia Thomas

Lydia Thomas, program manager for the Center for Innovation and Entrepreneurship at UNCW, shares her top info and tech picks....


Taking Marine Science On The Road

“My mission and my goal is to take my love of marine science, marine ecosystem and coastal ecosystems and bring that to students and teacher...

Book On Business

The 2024 WilmingtonBiz: Book on Business is an annual publication showcasing the Wilmington region as a center of business.

Order Your Copy Today!


Galleries

Videos

2024 Power Breakfast: The Next Season