Substantial Media in Knightdale was one of 16 startups to receive a grant from the NC IDEA Foundation. | Stock Photo
Substantial Media in Knightdale was one of 16 startups to receive a grant from the NC IDEA Foundation. | Stock Photo
NC IDEA has awarded $160,000 to 16 startups in North Carolina, with part of the award going to Substantial Media, LLC, in Knightdale.
The grants are meant to help support entrepreneurial ambition and economic empowerment in the state, the foundation said in an October release.
The $160,000 is the private foundation's fifth micro grant cycle, NC IDEA Foundation said in an October release about the awards. It has bestowed $770,00 since 2018 to 77 startup businesses.
Substantial Media tells stories through various avenues, from radio and podcasts to public TV, social media, journalism, and photography, according to its website.
"Spanning cleantech to consumer products to medical devices and software, this group is a great representation of the diverse economic potential of the state," Thom Ruhe, president and CEO of NC IDEA, said in the release.
Through its programs, NC IDEA can award up to $10,000 to each startup company in the state to help them advance their ideas, the foundation said in the release. NC IDEA began in the spring of 2018 and has helped North Carolina startup businesses since then with its SEED grant program and the NC IDEA MICRO awards.
"For many of these young companies, it is their first external validation that they are pursuing something that can become a great company; and it is very rewarding for us to help them on that journey," Ruhe said in the release.
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