Deadline: 31-Jan-21
Cabarrus Center for Innovation and Entrepreneurship is offering $5,000 Spark Grants to entrepreneurs located in or adding jobs in Cabarrus County to help them test ideas that can be commercialized successfully.
The Spark Grants are offered through the Flywheel Foundation, whose mission is to promote early- and growth-stage entrepreneurship in the markets served by Flywheel’s innovation centers. Funding for the grant program is coming from a title corporate sponsorship by Truist bank, with matching funds from the Foundation.
Funding Information
- Grant available up to $5,000.
- Entrepreneurs receiving grants will be offered use of the coworking space in the Cabarrus Center at no charge for 6 months.
Eligibility Criteria
In order to qualify for a Spark Grant, you must:
- Be a resident of Cabarrus County.
- Have an idea that solves a problem that makes an impact in the community or the market served
- If you are a company, you must be pre-revenue or early stage.
- Be committed to launching a company if your idea proves out.
Selection Criteria
- Creativity and innovation of the idea
- Ability to distinguish this entrepreneur’s idea from others on the market
- The overall strength and quality of team
- Knowledge of market
- Clarity of problem statement
- Market fit of the proposed solution
- A rating of the viability of the idea (product/service/technology)
- Total viable market and estimated market share of target market
- Commercialization plan and business model
- Potential revenue, capitalization requirements, and financing plans
- Overall assessment of the opportunity
For more information, visit https://cabarruscenter.com/spark-grants/