The One NC Small Business Program works in conjunction with two federal technology grants, the Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) programs. Following recent changes, the state program can support North Carolina companies as they prepare and submit initial proposals to the federal government, as well as provide grants to match previously awarded federal grants.

The One North Carolina Small Business Program’s Incentive Funds and Matching Funds initiatives are administered by the North Carolina Department of Commerce on behalf of the North Carolina Board of Science, Technology & Innovation (BSTI). Grant awards help small businesses in the state develop and commercialize innovative new technologies, in the process growing jobs and investment in their communities.

The Incentive Funds initiative provides reimbursement to qualified North Carolina businesses for a portion of the costs incurred in preparing and submitting Phase I SBIR or STTR proposals to federal agencies. In the 2022-23 fiscal year, a pool of $314,000 is available for these preparation grants.

The Matching Funds portion of the program, which has been offered for many years, awards matching funds to North Carolina businesses who have already received a federal Phase I SBIR or STTR award. In the current fiscal year, a pool of $2 million is available to support this class of grants.

Federal SBIR and STTR grants are the single largest source of early-stage technology development and commercialization funding for small businesses—more than $3.8 billion annually nationwide. 

The One North Carolina Small Business Program supports early-stage companies at a critical point, shortening the time between their startup and the point where they become large, sustainable companies. Many past recipients say the vital injection of capital from the state put their companies on a successful trajectory. Since 2006, the Program has helped more than 340 companies in 29 counties, resulting in over one-thousand North Carolina jobs, hundreds of high-tech products, and the generation of more than $2 billion in follow-on capital investments.

Applications to the One North Carolina Small Business Program can be accepted until June 30, 2023, or until funds have been exhausted for the program’s 2022-23 fiscal year funding cycle.

The Office of Science, Technology & Innovation, a division of the North Carolina Department of Commerce, administers the One North Carolina Small Business Program on behalf of the Board.

Details on how to apply for either the Incentive or Matching grant solicitations, as well as information and application instructions, are posted at: commerce.nc.gov/grants-incentives/technology-funds/one-north-carolina-small-business-program.