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Fayetteville startup receives award funds from NC IDEA

By Staff Report, posted Oct 25, 2022 on BizFayetteville.com

Photo courtesy of NC IDEA

Pinnacle Medical Products was recently awarded an NC IDEA MICRO grant. After a competitive, three-month application and selection process with 135 applicants from across the state, Pinnacle Medical Products is one of 15 startups chosen to receive a portion of grants totaling $150,000 in NC IDEA MICRO’s ninth grant cycle

According to their website, Pinnacle Medical Products is a nurse-owned medical device product company dedicated to creating innovative solutions to complex, widespread healthcare issues in order to revolutionize patient care delivery. Their primary focuses are pressure injury prevention in patients throughout the care spectrum and nursing staff injury reduction. A relatively new startup, Ryan Speidel, MSN, MBA, RN, NE-BC, founded Pinnacle Medical Products LLC in May of 2021. 

Speidel is overjoyed for his company to receive this grant and to have their work recognized: “[We're] just thrilled to be part of the bigger picture in terms of, you know, kind of being on the map, so to speak a little bit, as far as NC entrepreneurship is concerned. So, we'll make sure to use this grant to get us to where we need to be so that hopefully, we can, you know, do bigger and better things and, you know, make an even bigger footprint in NC med device and entrepreneur space.”

NC IDEA is a private foundation dedicated to supporting entrepreneurial ambition and economic empowerment in North Carolina. Since the inaugural cycle in Spring 2018, NC IDEA  MICRO has awarded nearly $1.5 million to 148 young companies across the state. 

“We have seen yet another competitive cycle and a continued need for funding and support from all parts of the state,” said President and CEO of NC IDEA Thom Ruhe in a press release. “These young companies speak to the economic potential of North  Carolina and they represent the great work of our ECOSYSTEM partners to level the playing field for all promising  startups with 13 of the 15 grant recipients representing under-served communities.”

NC IDEA MICRO awards $10,000 in funding to young companies looking to validate and advance their idea. The program, piloted in Spring 2018, was created as an expansion of the Foundation’s long-standing SEED grant program to provide funding to younger, promising startups not yet positioned for the Foundation’s traditional $50,000 grants. 

 

 

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