Innovation Fund North Carolina (IFNC), an organization created to help entrepreneurs through pre-seed funding and mentorship for high-growth, scalable technology startups, surprised attendees at its first awards celebration with the announcement of an eighth, first cycle award winner. Intellego Systems of Fayetteville, North Carolina will receive a $25,000 grant and join the seven previously announced North Carolina-based awardees.
During the decision process, each applicant is scored on various criteria. Based on the merit of Intellego Systems application and the viability of the business to create jobs in North Carolina, founding partners made the decision to fund the organization within the first cycle. The additional grant raises the total award package from $275,000 to $300,000.
Intellego Systems has developed a tri-modal biometric wireless device that collects voice, fingerprint and face prints. The device also has the capability to interpret 1D2D bar code scans off the backs of drivers’ licenses and ID cards. Using the wireless device, police officers can avoid returning to his or her vehicle to key in data at a road stop. This, in turn, will increase the safety for the officer, reduce the amount of time to generate identification, and eliminate key entry mistakes.
This additional winner underlines the importance of financial support for Innovation Fund North Carolina, without which it would not be able to make any awards including the additional grant to Intellego Systems. All awards given are directly funded through donations from individuals, corporations, educational institutions and organizations. North Carolina-based founding partners funded the first cycle.