NC State submitted an EDA RIS i6 proposal that seeks to maximize economic development by strengthening the Research Triangle regional innovation ecosystem by 1) creating a cohesive mechanism to support the launch and growth of research and technology-based startups by leveraging and expanding the capacity of existing, and by 2) creating a Research Triangle Region Innovation Commercialization Cluster.
The proposed Research Triangle Region Innovation Commercialization Cluster will bring together the 40+ entrepreneurial ecosystem drivers and stakeholders committed through their support of this proposal. The Cluster will work to develop a roadmap to brand and bolster the Region’s capacity and reputation as a leader in translating research discoveries into high growth companies to fuel economic development. The partners have experience doing this. A solid example is the formation and funding of the Research Triangle Cleantech Cluster (RTCC) led by NC State and the Research Triangle Regional Partnership.
This identification of an area of excellence (cleantech), partnership between academia, government, and the private sector resulted in a solid cluster that was able to raise over $1M in their first year of operation and reach out to International partners to facilitate sharing of best practices, resources, knowledge, project creation, and facilitating foreign direct investment. The project was launched in 2010 and continues to thrive.
Here are two videos that were in support of the Research Triangle Cleantech Cluster:
Senator Hagan’s Support Message played for the International Cleantech Network partners visit to North Carolina in 2011.
A video about the Research Triangle Cleantech Cluster created in 2014:
Venture Development Process, Ecosystem Partners and Resources
Mentor Network/Leadership Team:
Facilities & Equipment:
Resources & Capital:
180 Degree Capital Corp.
Hatteras Venture Partners
Triangle Venture Alliance (TVA)
Bull City Venture Partners
Duke Innovation & Entrepreneurship
Wolfpack Investor Network (WIN)
Osage University Partners
Accelerating the Commericalization of Technology (ACT) Program
Southeastern University and College Coalition for Engineering Education (SUCEED)
Industry Expansion Solutions (IES)
Current Innovation Services:
CED Venture Mentor Service (Program)
The Blackstone Charitable Foundation
Blackstone Entrepreneurs in Residence (EIRs)
Duke Angel Network (DAN)
Carolina Angel Network
Economic Development Administration (EDA) Seed Fund
MIT VMS Outreach Training Program
Reference for MIT VMS Data (p.122 early 2011 data): https://ilp.mit.edu/media/webpublications/pub/literature/Entrepreneurial-Impact-2011.pdf
Some VMS Data (early-2011 report)….first 11 yrs…can compare to CED’s 1st 6 yrs.
Ventures served since 2000: 926, Entrepreneurs served: 1608, Companies formed: 152, Funding raised by companies: $835M+, Liquidity events: (10 companies) >$650M, 2011 mentor2011mentor pool: 148, Mentoring hours (in the past 12 months): over 9000.
Reference MIT 2015 report:
- Number of currently active companies: All of the currently active MIT alumni–founded companies in our sample of respondents (5,534) were categorized into the 108 subgroups according to the founder’s MIT School, gender, and graduating decade. For instance, 930 for-profit companies in our sample were started by male alumni who graduated during the 1980s from the School of Engineering. Each cell was then multiplied by the scaling factor explained above. When summed up, this yielded an overall estimate of 30,200 currently active MIT alumni–founded companies.
- Revenues and employment: Entrepreneur respondents provided information on revenues and employment as of 2013 for firms continuing to exist as of 2013. We computed the mean revenue and employment as of 2013 for each of the 108 subgroups. The mean figures were then multiplied to the estimated number of currently active firms for each cell. This resulted in $1.9 trillion in total revenues and 4.6 million jobs as our estimated total current economic impact of MIT living alumni entrepreneurship.