Groundwork Labs Announces Summer 2016 Program

DURHAM, N.C. -- Groundwork Labs (www.groundworklabs.com), a program to speed the growth of technology startups, announces its next program will begin on May 16, 2016, with an application deadline of March 29. The NC IDEA Foundation sponsored program is offered at no cost to selected startups.  Groundwork Labs provides intense mentorship and guidance on customer discovery, building an MVP and fundraising.  The program is for entrepreneurs who are experts in their field but have a gap that Groundwork Labs can help address.  The company must be a technology-based business with the potential to scale.


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“We have made several changes to the program, the most visible of which is that we have shortened the program to two months.  We believe the shorter, more intense experience will enable companies to move faster, as well as enable us to offer more sessions each year,” said Groundwork Labs Director, John Austin.

If a company is also applying for an NC IDEA grant, the NC IDEA grant application can serve as the Groundwork Labs application. The applicant must select that they intend to also apply for Groundwork Labs on the NC IDEA application. The NC IDEA grant application deadline is March 11.

"Groundwork Labs forced us to clarify a lot of assumptions we had about product development, customer acquisition, and our business model. The mentorship we received was invaluable. I would recommend Groundworks to anyone who is starting a company." - Jamey Heit, Essay Assay (NC IDEA Grant Winner)

Entrepreneurs interested in learning more about our program and the application process are encouraged to attend one of the following info sessions:

HQ Raleigh | Wednesday, March 9, 2016 from 9:30AM to 10:30AM

Groundwork Labs | Wednesday, March 16, 2016 from 4:30PM to 5:30PM

RSVP here: https://www.eventbrite.com/d/nc--raleigh/groundwork-labs/?mode=search

About Groundwork Labs
Groundwork Labs is an NC IDEA Foundation program for selected entrepreneurs to test their idea and get expert guidance towards raising their first round of funding.  The program shares many characteristics of a technology accelerator. It is highly selective and provides services such as: mentoring, networking opportunities, and advice over an intensive two-month period.   The program is offered at no charge and does not take an equity stake or make an investment in the companies it serves. Since launching in February 2012, more than 100 companies have been through Groundwork Labs. Fourteen of those companies have won NC IDEA grants and twelve have been accepted into accelerators.   More than 20 of these companies have raised more than $5 million total in equity funding and have been awarded $2 million in grants.

About NC IDEA
NC IDEA is a private foundation committed to supporting business innovation and economic advancement in North Carolina. The organization serves as a catalyst for young, high-growth technology companies by promoting initiatives that foster growth and guides these companies to become major contributors to the state’s business community. Currently, NC IDEA works closely with these innovative startups mainly by providing early financing in the form of grants. NC IDEA also funds the Durham-based startup program Groundwork Labs. Since its inception in 2006, NC IDEA’s grant program has awarded over $4.2M to 104 companies across the state. Learn more at www.ncidea.org.