Application and Review Process

Get ready for a challenging, three-stage competition judged by investment professionals and industry experts.

1.    Online Pre-Proposal Application (due September 9, 2011)
2.    Full Proposal (by invitation, due October 14, 2011)
3.    Finalist Presentation (by invitation, November 10-15, 2011)
4.    Winners announced (November 28, 2011)

The Three-Step Process

Pre-Proposal Applications
Open August 15, 2011

Once the online application opens, you can access it through the Apply Now button. The pre-proposal requires a short and broad description of the project with details about your plan for the project during the next 12 months, and expectations for the future of the company.


Full Proposal
If your company is selected as a semi-finalist in the competition, you will be invited to download Full Proposal instructions and submit your full proposal via e-mail. Project proposals are approximately 10 pages in length describing, with additional detail, important aspects of the future business.

A detailed budget for the activities to be funded must accompany the project proposal.  Budgets must be realistic and reasonable for achieving project goals. The amount requested must match the required project activities and cannot exceed $50,000.  Entrepreneurial frugality is encouraged, and will be taken into account when evaluating proposals.

Finalist Presentation
Proposals that best fit the judges’ evaluation criteria will move forward to the final presentation stage.  The company leader will be invited to make a short presentation followed by a Q&A session with a panel of reviewers, including investment professionals, industry experts and experienced entrepreneurs. Companies may be required to make presentations in the Triad, Durham or both. Following the presentation, you will be notified of your grant award status.  If your company is selected, you and the investment review team will identify mutually agreed-upon milestones. Grant funds will be distributed based on achieving those milestones over the ensuing 12-month period.

Application Schedule

August 15, 2011              Applications open

August 26, 2011              Early deadline for pre-proposal applications

September 9, 2011         Final deadline for pre-proposal applications

September 30, 2011       Semi-finalists announced; invited to submit full proposals

October 14, 2011            Full proposal deadline

November 4, 2011          Finalists announced and invited to present to panel of experts

November 10-15, 2011  Presentations (exact date to be confirmed)

November 28, 2011        Notification of grant recipients

Questions about the application and review process? Contact us at


Register to receive regular updates on the PTP NEXT Business Competition or follow us on Twitter.