Asheville, NC – March 12, 2025 – Hatch AVL Foundation and Venture Asheville are thrilled to announce that they have been awarded an NC IDEA ECOSYSTEM grant of $100,000 to further support their mission of empowering entrepreneurs and fostering innovation in Asheville and beyond. The grant comes as part of NC IDEA’s latest funding cycle, which aims to strengthen entrepreneurial ecosystems across North Carolina.
In addition to the $100,000 ECOSYSTEM grant, Hatch AVL Foundation and Venture Asheville will receive an additional $20,000 for expanding their efforts into rural areas, particularly through partnerships with local colleges and universities. This funding will enable the organizations to broaden their outreach and provide greater support to entrepreneurs in underserved regions, helping to bridge the gap between urban and rural entrepreneurial opportunities.
“We are honored to be selected as a recipient of the NC IDEA ECOSYSTEM grant,” said Mike Baer, Board Chair of Hatch AVL Foundation. “This grant opens the door for Hatch to pursue a new level of entrepreneurial support. Students in rural areas will be able to explore starting and owning their own businesses! Very exciting and we are grateful to NC IDEA for their partnership.”
NC IDEA, a private foundation committed to supporting entrepreneurial ambition and economic empowerment in North Carolina, recently announced funding for 18 recipients as part of their ECOSYSTEM grant program. The program’s goal is to strengthen the support infrastructure for startups, particularly focusing on underserved populations, including rural entrepreneurs.
This funding announcement comes after a highly competitive selection process that drew 79 applications from across the state, the largest number of applicants in the program’s history. Wells Fargo also provided additional funding, around $500,000, to help rural entrepreneur-serving recipients, allowing them to deliver direct support to rural entrepreneurs in their programs.
Hatch AVL Foundation and Venture Asheville will use this grant to further their efforts in driving innovation, fostering economic growth, and supporting community development in both urban and rural areas.
Hatch AVL Foundation
Email: info@hatchavl.org
Website: https://hatchinnovationhub.