When a UNC-Chapel Hill faculty member or a student decides to launch a commercial or social venture, they begin an entrepreneurial journey of passion and perseverance.
They have a deep-seeded belief that their idea has the potential to thrive in the market and make life better for many. But that’s the long-term goal. In the short-term, they have to prove that their idea has potential. That requires dedication, hard work and funding. And for UNC startups working on new treatments, cures and social innovations, the end results are well worth the effort.
Despite making impressive early headway with limited funding, most early startup companies or non-profit organizations still aren’t mature enough to receive large federal grants. They’re also viewed as too risky for equity investments. The result? Faculty and students become squeezed for the funding they need to successfully take their ideas, technologies and funding prospects to the next level.
How this opportunity makes a difference
The Venture Acceleration Fund will multiply the ability of faculty and student ventures to take their ideas further, faster. Alumni and friends of the University can donate to a sidecar fund that the University uses to contribute additional funding as part of investment deals designed to support and grow UNC ventures.
These investments help faculty and student companies and non-profits:
The benefits of this investment fund are a ripple effect. By investing in faculty and student ventures, Carolina helps these organizations find success in the short term. When these organizations then return revenue to the University, Carolina has the resources to invest in new startups in the future. Success today breeds success tomorrow. The next companies in the University’s innovation pipeline get a chance to grow based on the achievement of the Carolina-supported companies that preceded them.
Why your gift matters
The Venture Acceleration Fund also allows the University to providing matching funds to early federal grants secured by its most promising ventures. This additional support is especially critical due to recent changes in the North Carolina funding landscape. The state of North Carolina has historically provided matching grants of up to $65,000 once a North Carolina startup receives a federal Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) grant. However, changes in the 2017 State of North Carolina budget mean that North Carolina startups receiving SBIR/STTR federal grant dollars will no longer receive matching grants from the state.
Your contributions are critical to providing funding that the University can use to accelerate the progress of its highest-impact ventures. With your support, we can bring new life-changing products, services and medical treatments to market and to the people who need them – faster than ever.
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