Velvet Nelson, the director of Launch Chapel Hill, discusses how the startup accelerator and co-working space formed out of a partnership between Carolina, the Town of Chapel Hill and Orange County is helping the local economy.
Named one of the most innovative universities in the world by Reuters, it’s no surprise that Carolina is home to hundreds of startups and growing businesses.
In the past six decades, nearly 800 companies have been founded by Tar Heels taking their ideas from classrooms and research labs to the marketplace to earn a profit, make a social impact and create jobs.
But a thriving business doesn’t just happen overnight.
That’s where Launch Chapel Hill comes in. A startup incubator and coworking space on Franklin Street, the program is helping local entrepreneurs and young businesses get their ideas off the ground.
Created in 2013 through a partnership between UNC-Chapel Hill, the Town of Chapel Hill and Orange County, Launch Chapel Hill’s mission is to help high-impact startups and early-stage ventures fulfill their potential, hit the market and contribute to North Carolina’s economy through revenue and job creation.
Since opening, Launch Chapel Hill has supported 153 companies that have generated nearly $69 million in revenue and raised $38.4 million in total funding. Its ventures employ 802 people, including 684 in North Carolina and 435 in Orange County.
“Launch Chapel Hill has had great success with startup companies that are doing amazing work and contributing to the economic and social fabric of our community,” said Velvet Nelson, who has served as the director of Launch Chapel Hill since December 2019.
As the 15th and most recent cohort of Launch Chapel Hill startups wraps up its time in the accelerator program, Nelson discussed Launch Chapel Hill’s mission, its unique partnerships and how the organization is expanding its economic impact.
| UNC-CH