Impact measures: One NC Small Business Program
The One NC Small Business Program helps high-tech businesses attract more funding to the state, keeping home-grown technologies in North Carolina and creating more well-paying jobs. The Program helps small businesses commercialize their innovative technologies to benefit the general population.
Since 2006, the program has helped to:
- Create and retain more than 200 private sector jobs statewide – more to come as more companies benefit and grow.
- Help companies draw down a 9-to-1 return on the state dollar through attracting more than $39 million in external company investments and more than $52 million in follow-on federal funds.
- Grow NC small companies – most have fewer than 10 employees and are growing rapidly.
- Help more than 140 companies bring to market new technologies and applications in numerous fields including biotechnology, nanotechnology, medical technologies, computer software, military/defense technologies, pharmaceuticals, and textiles.
- Keep NC-based, high-tech, companies in the state by providing a supportive climate.
Testimonials:
“These matching funds have been invaluable in helping our company survive the major recession of 2009. Without them, we simply may not still be in operation.”
“The state funding allowed us to receive an additional federal grant. The funding also helped boost our infrastructure and carry out more extensive research than would have been possible with just the federal funding.”
“The matching funds program has been critically important for meeting our goals. We have been able to pay for expenses related to prosecuting three patents and we are currently working with a consultant to aggressively pursue commercial partnership and licensing opportunities. Without NC matching funds, we would not have been able to meet these expenses.”
“The NCBST SBIR/STTR Matching Funds program is a great help in meeting the company's long- and short-term needs. The funds covered short-term operating costs so we can continue to invest in developing new products to expand its operations and grow the revenue stream.”
“The funds from the SBIR Matching project have allowed us to recruit a PhD-level scientist for the company to pursue cancer related research.”
Impact Measures: North Carolina Green Business Fund
The NC Green Business Fund has been in operation since 2008, and initial data show that the program is having a significant impact in developing and sustaining a green economy in this state. Fifteen award winners have completed their projects and submitted their final reports to date. The total amount awarded to these fifteen organizations is $960,000.00. Data from these reports indicates the following impact measures:
- Return on the state dollar (ratio of internal and external investments and follow-on funding, per dollar of state funds awarded): $3.92
- Jobs created: 38
- Patents issued: 10
- Licenses issues: 5
Most of these companies are small and still growing; therefore the impact of the Green Business Fund will multiply as more companies benefit, grow, and realize full commercial potential.
Testimonials:
“NC Green Business Fund Grant was a key decision in the future of North Carolina. Small businesses, like OrganoFuels Incorporated, will provide new employment and revenue generating platforms hardly imagined years ago.” – OrganoFuels Inc., Candler, NC
“The NC Green program is a fantastic program. It has enabled us to do early studies on applied technologies. The program provided the flexibility to implement alternate strategies to improve the overall chances of success within the program. To develop a green economy in NC, it is imperative that programs like this continue to support small businesses in NC.” – Kyma Technologies, Raleigh, NC
“The impact of this initial project is significant. Both job creation and training are a result of this project.” – Alganomics, Southport, NC