Update: this version of the story includes more information about semi-finalist company LinkUs.
Three Wilmington startups are among 26 semi-finalists for NC IDEA’s spring 2015 grant cycle, the Durham-based technology grant-making organization announced Monday.
Two of the fledgling companies are Xili Mobile, creator of a residential real estate information service that is available to house-hunters via text, and KWIPPED, an online equipment rental company. KWIPPED was founded by Robert Preville, a co-owner of the Greater Wilmington Business Journal and WILMA magazine.
LinkUs, is being launched by George Taylor III, son of George Taylor, who is chairman of Next Glass. The free app is a social discovery application for use "in pairing people for meaningful relationships", Taylor III. The LinkUs founder said Monday his app will draw from online data about the user and others to find potential relationship matches, whether they be for romance, a roommate or even a potential business partner. The data search will result in scores for these potential matches, he said.
"We're able to define a successful relationship match; what you do with it is up to you," Taylor III said.
NC IDEA has invited all 26 semi-finalists to submit a full, more detailed grant proposal by mid-April, the organization’s news release stated. The resulting finalists will be chosen in early May to present their pitches before a review panel composed of “experienced investors, industry experts and entrepreneurs.”
Four to six grant recipients will be announced in early June. Those winners will receive grants of up to $50,000 to support business plan research and development and help recipients advance their projects to the point that they are attractive to venture capital or angel investors, according to the release.
Two local companies were NC IDEA semi-finalists last year: Treadwell Corp. in the spring and WhittleDATA in the fall. Neither progressed further in the competition.
On Feb. 6 of this year, NC IDEA representatives came to Wilmington's Center for Innovation and Entrepreneurship (CIE) and all three of this spring's semi-finalists attended their session to learn about the application process, according to Jim Roberts, former executive director of the CIE.
NC IDEA is a 501(c)(3) not-for-profit organization that targets promising technology companies that need help bridging the gap between initial product development and venture capital funding, according to the organization’s website. In addition to providing early financing – largely in the form of grants – NC IDEA uses its network to connect young companies to potential partnerships and strategic alliances.
