NC Senate bill would stimulate venture capital

March 27, 2007 at 10:38 pm | In economic development, entrepreneurship, government, innovation, north carolina, policy, politics, venture capital | Leave a Comment

Per the Charlotte Observer:

A bill that aims to stimulate the infusion of venture capital into young North Carolina companies has been introduced in the state Senate.

It calls for a new program that would lower the risks of investing in startups and other N.C. businesses by guaranteeing up to half the investments made by venture capital firms.

The maximum amount covered by the guarantee would be $30 million per firm; altogether, the proposal would guarantee at least $200 million in investments.

~ nd

The coming of the kiosks

March 27, 2007 at 9:36 pm | In business, design, innovation, north carolina, technology | Leave a Comment

Like airlines with check-ins, some hotels in the Triangle are starting to transition away from traditional front desks in favor of a self-service approach.

– mvc

More accolades for Cherokee

March 27, 2007 at 9:12 pm | In architecture, business, environment, north carolina, technology | Leave a Comment

Cherokee Investment Partners has won an award from the National Association of Home Builders for its green building practices.

– mvc

Changing the face of Kannapolis

March 27, 2007 at 8:59 pm | In business, community, duke, economic development, education, innovation, ncsu, north carolina, science, trends, unc | Leave a Comment

Sixty years ago, Kannapolis was one of the busiest mill towns in the state. But over the last decade, it has been one of the places hardest hit by the forces of economic change. In 2005 though, David H. Murdock, owner of Castle & Cooke and the Dole Food Company, and Molly Broad, then-UNC-system president, announced the creation of a massive new $1.5 billion research facility.

The state will contribute $30 million annually for the operation of the facility, but the bulk of the private funding thus far has come from Murdock, who has committed around $100 million:

Using the best research equipment available, he intends to make the former mill town a center for nutritional research that will fundamentally change how fruits and vegetables are grown and consumed throughout the world.

Duke, NC State, UNC-Chapel Hill, N.C. Central University, UNC-Greensboro, N.C. A&T University and UNC-Charlotte are all committed to operating research facilities on the campus. There are also big hints that another private university will soon join the partnership.

When it is completed, the North Carolina Research Campus will bring thousands of jobs to the area — hundreds of new research positions that will be created and others servicing the campus, which won’t require post-graduate degrees. There is a lot of hope that some of those with new positions will go to former mill workers. In the short term:

As many as 100 new researchers could be hired in the next two years, with hundreds more following them to assist in labs and offices.

Ultimately, planners believe the job creation could be as high as 35,000.

I don’t need to extol the virtues of another research campus in North Carolina — Research Triangle Park speaks for itself. But I don’t think that potential for this facility has been stated enough. It’s not just about jobs that will be created now, or in ten years — world-class research produces new technologies. New technologies become the reasons for new startups, and that type of entrepreneurship will be absolutely necessary for the state’s future.

– mvc

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