Grant Impacts

One NC Small Business Program

The One NC Small Business Program helps helps small businesses develop and commercialize innovative technologies to benefit the general population. In the process, it helps high-tech businesses attract more funding to the state―keeping home-grown technologies in North Carolina and creating more well-paying jobs. 

In 2017, a detailed analysis of the program's impacts was conducted. It found that, since its inception in 2006, the program has helped enable:
  • the creation and retention of nearly 900 private sector jobs statewide – more to come as more companies benefit and grow.
  • more than 250 small businesses bring to market biotechnology, nanotechnology, medical technologies, computer software, military/defense technologies, pharmaceuticals, textiles, and other high-tech applications.
  • more than 77 percent of the small businesses to remain in operation.
  • the small businesses to attract more than $515 million in external investment, including more than $122 million in follow-on federal funds.
  • 60 percent of NC matching grant winners have gone on to win Phase II federal grant awards, each with a considerably larger average value of $1 million (nationally, 54 percent of Phase I award winners graduate to Phase II awards).
  • the small businesses to produce more than $125 million in total sales resulting directly from the technology developed with Program funding.
  • significant technology/business-development partnerships among NC universities & businesses.  

For a printable two-page summary of the the strong impacts of the One NC Small Business Program since its inception in 2006, see One NC Small Business Program Fact Sheet (June 2018).  

For an economic impact analysis of the overall impacts on North Carolina’s economy resulting from the increased number of employees that North Carolina small businesses created with the One NC Small Business Program grants between 2006 and 2018, see The Impact of the One NC Small Business Matching Grants Program on North Carolina’s Economy: Evidence from IMPLAN (May 2018). 

Grantee Stories & Profiles

The following two-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.

Current Stories - Bridging the Valley of Death Series (2018)
  • Vigilant CyberSystems (Mt. Airy) - Surviving Threats in Cyberspace and The Tough World of Business
  • Prevention Strategies (Greensboro) - Preventing Bad Behavior Alone Doesn't Lead to Business Success
  • Bennett Aerospace (Cary) - Smart Engineering Creates New Products & A Successful Company 
  • More stories coming soon

“Overall, we strongly agree that this program is essential to our growth and will have a great impact on our future revenue and employee growth in NC. We hope that future companies can benefit from this program in the future.” – Enformia, Inc., Huntersville

“…the Matching Grant Program was key to the survival of our company in its earliest days. It helped us achieve profitability and grow to employ 100 people in NC.” – Precision Biosciences, Durham

“I can’t stress enough the importance and potential that this baseline technology has and the multitude of applications that can build jobs and economic growth for North Carolina. These matching funds have been a tremendous help to reach those goals.” – Advanced Hydrogen Technologies Corporation, Morganton 

“Hugely helpful to NC small businesses. Thanks for the support!! You've allowed us to be competitive with companies on the West Coast where all the funding is.” – FokusLabs Behavioral Solutions, Inc., Wake Forest

“The money awarded from the program is absolutely the most critical funding available to a small startup and positions the company for follow on Phase II funding and secures commercialization activities that are critical to overall future success. The program is a must-have for all new enterprise in the state.” – Kepley Biosystems, Greensboro

"The program provided our company with sufficient upfront cash flow to undertake the risk of hiring a new high-level employee and bring his family from Utah to North Carolina. Using the matching funds and the programming support of this new employee, we were able to rapidly advance our SBIR project.” – Blue Ridge Research, Asheville

Previous Profiles (2012)

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).

For a comprehensive report detailing the nature of the ARRA-funded program, its award process and awardees, and the use, outcomes, and impacts of the grants overall, see NC Green Business Fund: Final Program Performance Report (November 2012).

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