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Wrightsville Beach Startup Named Semi-finalist For State Grant

By Staff Reports, posted Mar 28, 2023
Wrightsville Beach-based Boreas Monitoring is among 24 startups selected as semi-finalists of the NC IDEA Spring 2023 SEED Grant Cycle, according to a press release.

“This cycle reflected a competitive field of diverse applicants across geography, industry, and founder demographics,” said Thom Ruhe, president and CEO of NC IDEA, in a press release.“Even into the 17-year history of the program, it never gets easier to narrow down the field of competitive contenders. We look forward to learning more about the group that is moving forward to the next phase.”

Boreas Monitoring is a monitoring system for cryogenic storage tanks, which many laboratories use for storing natural gasses. Its platform is cloud-based and monitors 24/7 including a scale with audible and visual indicators that alerts users and directs them to a tank if an alarm condition is active.

This week, Boreas Monitoring will participate in a pitch conference as part of the annual Venture Connect Conference in Raleigh.

The winners of the SEED grant, who will be announced later in the spring, get $50,000 which is aimed at supporting “business activities that validate target markets, reduce the risk associated with early-stage companies and help companies reach the point of suitability for growth through investment or revenue,” the release states.

This is NC IDEA’s 35th iteration of the SEED grant cycle.

Click here to see the full list of semi-finalists.

The semi-finalists will submit a full proposal by early April and finalists will be selected to present before a review panel. Grant recipients will be announced in mid-May.
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