WINSTON-Entrepreneurial efforts in the Triad are being combined into one organization, leaders of the new organization announced Thursday morning.

The Piedmont Entrepreneurial Network and the Triad Entrepreneurial Initiative are being merged into one group — the Piedmont Triad Entrepreneurial Network, or PTEN for short.

The merger was announced by Allen Joines and David Norbury, co-chairmen of the PTEN board. Joines is mayor of Winston-Salem and president of the Winston-Salem Alliance. Norbury is a retired chief executive officer of RF Micro Devices.

PTEN is now looking to hire a chief executive officer. PTEN will have an annual budget of some $650,000. An office location central to the region will be selected in the near future.

Merger the groups has been the subject of talks since earlier this year.

The combined entity is supported by Action Greensboro, Winston-Salem Alliance, High Point Partners and various corporate supporters.

“PTEN is significant because it represents strong participating and collaboration among the major communities in the Triad — and the interest of the three communities to support a regional approach to grow high-impact companies,” Joines said in a statement.

PTEN plans to offer networking, education and mentoring, business plan competitions, capital access and communications support.

“We now have the opportunity to assist new companies from birth and throughout their life cycles,” Norbury added in the announcement. “They can now access support from one organization that can help them develop their ideas and turn them into significant businesses.”

Other members of the PTEN board include:

  • Jeff Burgess, treasurer and managing partner, Grant Thornton, LLP

  • Gayle Anderson, president, Winston-Salem Chamber of Commerce

  • Charles Calkins, partner, Kilpatrick Stockton, LLP

  • Greg Chabon, partner, Womble Carlyle Sandridge & Rice

  • Roddy Davis, partner, Nexsen Pruet Adams Kleemeier, PLLC

  • Don deBethizy, president and CEO, Targacept, Inc.

  • Greg Frisby, CEO, Technology Growth Resources, LLC

  • Lee Lloyd, special counsel, Brooks, Pierce, McLendon, Humphrey & Leonard, LLP, and representative of Action Greensboro

  • Reid Marsh, CEO Marsh Furniture and chairman, High Point Partners

  • Harold Martin, chancellor, Winston-Salem State University

  • Doug Speight, interim director, Office of Technology Transfer,
    NCA&T University

  • Doug Young, president, Young & Company
  • Other members will be named later.