Entrepreneurial Resources

Winston-Salem / North Carolina

Winston-Salem, NC, the City of the Arts and Innovation, supports start-up and high-growth companies including those focused on biomedical sciences and information technology. Winston-Salem is fortunate to have ready access to financial and academic entrepreneurial resources, which are key drivers in transforming innovations into commercially marketable products.

The city is home to Wake Forest Innovation Quarter, a fast-growing new hub for innovation in biomedical science and information technology based in a locale designed for a knowledge-based community to work, live, learn and play.

North Carolina is ranked third in the nation for biomedical science employment, with more than 500 life science companies, according to the North Carolina Biotechnology Center. A report released in January 2013 by the Battelle Technology Partnership Practice shows that North Carolina has had the best biosciences job growth in the U.S. since 2001.

Professional Services

Small Business and Technology Development Center (SBTDC): Leverages higher education resources for the benefit of the business community.

Winston-Salem Business Inc.: An economic development agency that works with local businesses, government, regional and state agencies to bring new business and industry to Winston-Salem, North Carolina.

Winston-Salem Chamber of Commerce: Offers a variety of programs and services to support the business community.

NC Biotechnology Center, Regional Office: Regional support of biotechnology research, business and education.

Product Innovation Services (unit of Wake Forest Innovations): Development and commercialization of new products and services. One of the nation’s top-ranked universities in turning research into revenue.

Preclinical Translational Services (unit of Wake Forest Innovations): Experienced support for industry and academic researchers with surgery, pathology, imaging and a clinical chemistry and endocrinology assay services laboratory needs.

Entrepreneurial Networks

Winston-Salem Chamber of Commerce Technology Council: The tech council is the Piedmont Triad’s largest group dedicated to developing a high tech business base. Through the council, technology organizations, companies and universities from across the Triad coordinate efforts, improve communication and bring the region together as a technology center.

Wake Forest University Demon Incubator: Operating under the Angell Center for Entrepreneurship at Wake Forest University Schools of Business, the Demon Incubator is part of the university’s broader effort to support the local business community.

The Council for Entrepreneurial Development: Membership organization with more than 5,000 active members representing 1,300 companies. It is the largest entrepreneurial support organization in the U.S. and provides programs and services in education, capital formation, mentoring.

Flywheel: Flexible, shared workspace within a collaborative community. Flywheel provides the ideal work environment for those in need of not only space—but also like-minded people to share it with.

Statewide Support

BioNetWork: Statewide initiative of the North Carolina Community College System (NCCCS), the primary provider of workforce development in the state.

Forsyth Technical Community College: Forsyth Tech is the lead institution for the National Center for the Biotechnology Workforce and will focus on biotech research and development in the Southeast. Forsyth Tech is partnering with four other community colleges around the nation, to establish a National Center for the Biotechnology Workforce. Through this center, training components will be developed for all major segments of the high-growth biotech sector. Each of the five partner colleges focuses on a special area of biotech training.

North Carolina Biotechnology Center: Non-profit organization supporting biotechnology research, development and commercialization statewide.

Small Business and Technology Development Center: Business development service of the University of North Carolina system operated in cooperation with the U.S. Small Business Administration. The center provides management counseling and educational services to help North Carolina businesses meet challenges, manage change, and plan for the future.

North Carolina Technology Association: As the primary voice of the information technologies industry in North Carolina, the association works to increase public awareness and influence key public policy issues.

North Carolina Department of Commerce: State of North Carolina’s lead agency for economic, community and workforce development.

Piedmont Triad Partnership: Primary economic development marketing organization of North Carolina’s Piedmont Triad Region. The Partnership markets the 12-county Triad domestically and internationally to attract new business investment and new job creation in the region.

Economic and Business Assistance

City of Winston-Salem Economic Development Program and Forsyth County Economic Development Program: These programs provide financial assistance to businesses to increase the tax base and create new, full time employment in Winston-Salem.

One North Carolina Fund: A competitive financial assistance program for businesses or industries deemed by the governor to be vital to a healthy and growing state economy and are making significant efforts to expand in North Carolina.

Small Business Innovation Research Program (SBIR)/ Small Business Technology Transfer Program (STTR): These programs reimburse qualified firms for a portion of the costs of preparing and submitting Phase 1 proposals for the federal SBIR and STTR and also award matching funds to firms that receive a Phase 1 award.

Industrial Revenue Bonds: The state’s principal interest in Industrial Revenue Bonds is assisting new and expanding industry while seeing that North Carolinians get good jobs at good wages.

Tax Credits: The William S. Lee Quality Jobs and Expansion Act rewards eligible companies expanding or relocating in North Carolina that hire within the North Carolina workforce to fill positions.

North Carolina R&D Tax Credit: Applies to all industries that do R&D in NC and offers a variety of rates and credits.

Job Development Investment Grant: A competitive, discretionary incentive providing sustained annual grants to new and expanding business measured against a percentage of withholding taxes paid by new employees. Contact the N.C. Department of Commerce Finance Center for the detailed criteria.

Community Development Block Grants: These grants may be accessed by local government applicants (municipal or county, excluding entitlement cities or designated urban counties) with proposed projects that involve a specific business creating or retaining jobs.

Industrial Development Fund: Provides incentive industrial financing in the form of grants and loans.

Golden LEAF Foundation: Grants funds to projects that show the most potential for strengthening North Carolina’s long-term economy, especially in communities that have been tobacco-dependent or are economically distressed.

Venture Capital

North Carolina is fast becoming a haven for start-up and high-growth companies in technology and life sciences supported by universities that provide research and development and have thousands of excellent students annually. When it comes to strategies for scoring capital, we have options statewide, regionally and locally.

Among them:

The Aurora Funds Inc Ridgemont Equity Partners
BB&T Capital Partners LLC River Cities Capital Funds
Blue Point Capital Partners Salem Capital Partners LP
Carousel Capital SJF Ventures
Frontier Capital LLC Southeast Interactive Technology Funds
The Halifax Group Southeastern Angel Capital Organizations
Intersouth Partners TAO Venture Capital Partners
Pappas Ventures Triangle Capital Partners
Plexus Capital Wells Fargo Technology and Venture Banking
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