Grant Program 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.
In 2012, a detailed analysis of the program's impacts was conducted. It found that, in the program's first six years, the program helped to:
- Create and retain nearly 500 private sector jobs statewide – more to come as more companies benefit and grow.
- Enable more than 200 small businesses bring to market biotechnology, nanotechnology, medical technologies, computer software, military/defense technologies, pharmaceuticals, textiles, and other high-tech applications.
- Enable small businesses generate a 9-to-1 return on the state dollar through attracting more than $85 million in external investment and more than $73 million in follow-on federal funds.
- Increase the Phase II follow-on federal funding rate from 49% to 56%, six points above the U.S rate of 50%.
- Enable the small businesses to project more than $60 million in 2012 sales directly related to the products and services developed and commercialized with state support.
- Enable significant technology/business-development partnerships among NC universities & businesses.
“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.”
A similar detailed analysis will be conducted in 2017 and will further document the program's impacts since 2006.
"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.”
||For more detail regarding the strong impacts of the One NC Small Business Program overall in its first six years, see pages 29-39 of the Office of Science & Technology's Continuation Review Report (March 2012).
The following one-page profiles (pdf format) provide compelling examples of how some of the small businesses have used One NC Small Business Program grants to develop and commercialize new technologies to grow the economy and improve our quality of life.
- Advanced Liquid Logic, Durham
- Alderon Biosciences, Newport
- Bennett Aerospace, Cary
- Cognosci, Research Triangle Park
- Grassroots Biotechnology, Durham
- Hermes, Wilmington
- KeraNetics, Winston-Salem
- Morphormics, Durham
- NanoTechLabs, Yadkinville
- Novan, Durham
- Semprius, Durham and Henderson
- Southeast TechInventures, Research Triangle Park
- SoyMeds, Charlotte
- Theralogics, Chapel Hill
- ZenBio, Durham
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. The total amount awarded to the 27 grantee organizations is $1.9 million. Twenty-four of the state-funded grantees have completed their projects and submitted their final reports to date. 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): $7.8
- Jobs created: 46
- Jobs retained: 51
- Patents issued: 2
- Copyrights issues: 3
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.
"Creating the NC Green Business Fund Grant program 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
||For more detail regarding the strong impacts of the NC Green Business Fund overall, see pages 40-47 of the Office of Science & Technology's Continuation Review Report (March 2012).