Equipment Rental Startup a Semi-Finalist for NC IDEA Spring 2015 Grant Cycle

Equipment Rental Startup a Semi-Finalist for NC IDEA Spring 2015 Grant Cycle
KWIPPED one step closer to obtaining funds, expert guidance for biz dev

KWIPPED, Inc., an online equipment rental marketplace, has made the first cut for NC IDEA’s spring grant cycle. The Wilmington-based startup, along with 25 other N.C.-based high-tech startups still in consideration, is competing to become one of the program’s four to six final grant recipients. The grants – worth up to $50,000 each – will be used to help develop and prepare awardees for potential angel or venture capital investment, according to a NC IDEA news release.

“We’re told that NC IDEA received nearly 150 applications for this grant cycle,” said KWIPPED CEO Robert Preville. “To be selected to continue this journey is not only a great privilege but also an exciting challenge.”

The NC IDEA program, now in its 19th grant cycle, offers early-stage companies in the fields of software, IT, medical devices and material sciences a chance not only to receive grant money but also to speak about their firm in front of a panel of business experts and investors; for high-tech startups, this means learning from the pros how to better their business.

With two pitch events already under their belt – the Charlotte Venture Challenge and Virginia Venture Summit which took place March 31 and April 2, respectively – Preville believes the KWIPPED team is well-prepared for the NC IDEA grant program’s next steps.

“We’ve heard directly from panels of potential investors what KWIPPED needs to build upon and what we already have right,” Preville said. “This is valuable insight we will incorporate into our detailed proposal for NC IDEA, and if this leads to us presenting to a review panel, it won’t be our first time.”

“With every pitch opportunity, we gain confidence in what we are working towards, and we grow even more assured of the positive impact KWIPPED will have for a huge population of equipment users and renters across the globe.”

About KWIPPED
KWIPPED, Inc. develops and maintains the world’s first comprehensive business-to-business online rental marketplace. KWIPPED technology streamlines sourcing from a global network of equipment rental suppliers and reduces risk, assures quality and facilitates trusted relationships between renters and suppliers. The Company aims to maintain a trusted marketplace for professionals to locate, discover and rent specialized equipment for commercial applications. Established in 2014, KWIPPED’s headquarters is located in Wilmington, NC. For more information, call 800.273.8404 or visit KWIPPED.com

About NC IDEA
NC IDEA, a 501(c)(3) not-for-profit organization, targets promising technology companies that need help bridging the gap between initial product development and venture capital funding. The organization helps young, innovative companies mainly by providing early financing in the form of grants. NC IDEA further supports its grant winning companies by leveraging the organization’s solid partnerships and strategic alliances to assist companies through research phases, business challenges and growth goals. Learn more at www.ncidea.org.