The U.S. Economic Development Administration (EDA) has awarded an i6 Challenge grant to the Frank Hawkins Kenan Institute of Private Enterprise at the University of North Carolina Kenan-Flagler Business School.
This grant along with matching funds from the Kenan Institute will fund Technology Commercialization Carolina (TCC), a new $1.1 million initiative. TCC is designed to support North Carolina’s innovators and inventors through commercialization and entrepreneurship training, early stage venture launch support and funding.
The Kenan Institute provides business services to entrepreneurs, small business owners and UNC-Chapel Hill researchers who want to commercialize their technology into viable enterprises. With assistance from the i6 Challenge grant, the Kenan Institute will expand its endeavors to support more local innovators and encourage the development of North Carolina-based technology startups.
“From supporting university laboratory spinouts and innovative startups in the small towns across the state, the Kenan Institute has been a long-time proponent of North Carolina innovation,” said Mark Little, interim executive director of the Kenan Institute, who will direct the initiative. “TCC will be a vehicle to expand access to our existing programs, and provide direct assistance to the state’s most promising technology ventures.”
“This Kenan Institute initiative is an important part of the University’s commitment to an integrated innovation and entrepreneurship ecosystem on campus known as Innovate Carolina,” said Judith Cone, interim director of the Kenan Institute and interim vice chancellor for commercialization and economic development at UNC. She also is special assistant to Chancellor Carol Folt for innovation and entrepreneurship.
“UNC-Chapel Hill is one of the world’s great research universities,” she said. “Initiatives like the Kenan Institute’s TCC help make the most of that research through technology commercialization. TCC will bring UNC’s technology commercialization assets to bear across North Carolina and will encourage greater collaboration by connecting entrepreneurs throughout the state to the resources of the university.”
Fourth District Democratic Congressman David Price believes that “this award from EDA is invaluable assistance in the growing effort to leverage our state’s cutting edge university research to drive innovation and create jobs in North Carolina.”