$150,000 NC IDEA Foundation grant will help support “Connections to Capital” Program
DURHAM, NC, September 9, 2016 — The Council for Entrepreneurial Development (CED), the largest and longest-running entrepreneurial network in the nation, today announced it was awarded a $150,000 grant by the NC IDEA Foundation in support of CED’s “Connections to Capital” program. CED’s “Connections to Capital” program leverages the organization’s powerful network and database to match investors to entrepreneurial companies seeking to raise institutional capital. Just 18 months from its inception, “Connections to Capital” has helped companies raise $55 million from institutional investors that were introduced to those companies directly by CED.
“Two years ago, CED recognized there was an institutional funding gap for growing companies that could be addressed with a targeted, aggressive program that matched investors with promising entrepreneurs,” said Joan Siefert Rose, CED President & CEO. “We built a comprehensive database to capture entrepreneurial activity in the state, forged new relationships with over 300 institutional investors – a majority of which are from out-of-state, and have made curated, meaningful connections that have resulted in much-needed capital for companies poised to make significant impacts.”
NC IDEA Foundation’s grants were awarded to organizations across North Carolina that support entrepreneurs and promote entrepreneurship. Thom Ruhe, President & CEO of the NC IDEA Foundation describes the “Connections to Capital” program as “a great service for the entrepreneurial community. By establishing relationships with investors not familiar with North Carolina’s companies, providing thoughtful matches, and helping to bring in more institutional capital the entire ecosystem benefits.”
CED’s grant was one of nine awarded by the NC IDEA Foundation, for a total of $1,175,000. The grant will be disbursed over two years and CED will utilize the funds to continue to improve the “Connections to Capital” program.
CED is the largest and longest-running network for entrepreneurs in the country. CED’s network propels emerging Triangle companies into highly successful businesses. Members include a wide range of startup and growth stage companies, investors, corporate partners, academics, service providers, and individuals interested in benefiting from CED’s powerfully connected network. Read more at http://www.cednc.org.