RESEARCH TRIANGLE PARK – Every week in 2021, WRAL TechWire added at least one new resource to our Triangle Startup Guide. With ongoing additions and updates to the existing listings, we wanted to keep the guide alive as an up-to-date source of information for anyone looking to start or grow a business in the Triangle area.

As we enter 2022, we wanted to recap all of the additions we made last year and send out an open call for feedback from our readers.

We’re interested in hearing what you like about the guide, what you don’t like, and what we could do better. Please feel free to share feedback through email or via this contact form. We look forward to hearing from you!

Here’s a recap of all the updates we made to each section of the guide in 2021:

Accelerators & Mentorship Programs:

  • LaunchWENDELL: A new 10-week program from the Town of Wendell and Wake Technical Community College aims to support Wendell entrepreneurs and small business owners.
  • Launch Johnston County: Headed by the Clayton Chamber of Commerce, this program aims to provide the coursework, networking, mentorship and funding opportunities emerging businesses need to grow in the Johnston County area.
  • Becoming An Investor-Ready Entrepreneur: A program run by the Small Business and Technology Development Center recently expanded to cover pharmaceutical companies.
  • Test Flight Pitch Practice: An opportunity for early-stage startups to hone their pitch and get valuable feedback from an audience of angel investors, funding groups, customers and other reviewers.
  • An update to the Launch Chapel Hill listing: The startup accelerator announced in June that its program has supported 153 companies since its founding in 2013. The program’s graduates have generated over $69 million in revenue and raised $38.4 million in capital. They also employ more than 800 people. We added this milestone to Launch Chapel Hill’s line in the startup guide.
  • Duke University’s Summer Blockchain Innovation Program: Organized by the Duke Pratt School of Engineering, Duke Innovation and Entrepreneurship, HackDuke and Rev, this new program offers an opportunity for students to build, test and launch their innovative blockchain solutions.
  • Velocity Creative Accelerator: A 10-week business development program offered by Winston-Salem’s Center for Creative Economy. Though the accelerator is held in the Triad, it isn’t limited to local startups.
  • An update to the New Ventures Accelerator listing: In April, Flywheel Coworking announced an expansion to its New Ventures Challenge, in which startup teams compete for seed funding, access to industry experts and mentors, and a spot in the 12-week New Ventures Accelerator. In 2021, Flywheel added four new tracks: Health/Wellness/Nutrition, AgTech, B2B Software and The Come Up, a program for minority founders.

Communities, Networks & Memberships:

  • WE Power Food: A group that provides resources, training seminars, networking and more support to women entrepreneurs in the food industry. The organization was formed out of the Piedmont Food Processing Center, a food incubator based in Hillsborough.
  • Black Entrepreneur Initiative at UNC: A program that supports Black entrepreneurs, creators and innovators on UNC Chapel Hill’s campus. The organization promotes Black-led ventures, provides branding and professional development resources for both current and aspiring Black entrepreneurs, and connects the community through networking events, career opportunities and communication guidance.

Competitions, Grants & Other Funding Sources:

  • NC State University’s Make-A-Thon program: Student teams are tasked with creating the best solution to a sustainability challenge, then they pitch their ideas to judges and local companies for a chance to win cash prizes. This year’s competition will be held from Jan. 27–30, and the deadline to register is Jan. 16.
  • Wolf Den: A popular pitch competition held every year during NC State University’s Global Entrepreneurship Week. A handful of student teams present their business ventures to a panel of judges and a live audience for a chance to win cash prizes.
  • PitchRounds: An event that invites life science companies across the southeast to present their solutions in biopharma, digital health, diagnostics and medical devices.
  • Duke Institute for Health Innovation’s annual funding cycle: Supports innovative projects from faculty, staff, trainees and students of Duke University and the Duke University Health System.
  • Duke MEDx-Biomedical Engineering Medical Device Design Program: Teams of undergraduate students from Duke’s Department of Biomedical Engineering will build out medical device concepts proposed by Duke University Medical Center physicians, nurses and other clinical professionals.
  • NEXT Venture Pitch: Held in Greenville, South Carolina, this popular pitch event gathers entrepreneurs, venture capitalists, angel investors and business leaders from across the Carolinas and offers an opportunity for startups in the southeast to refine their pitch and gain attention from new investors.
  • Duke MEDx’s High-Risk, High-Impact Challenge: This program provides up to three awards ranging from $25,000 to $50,000 to early career researchers for interdisciplinary projects tackling human health issues.
  • An update to the Big Launch Challenge listing: Per the latest information from The Launch Place, the annual pitch competition has awarded $159,000 to 14 companies over its eight-year history. We added this milestone to the guide.
  • DIG SOUTH‘s Wild Pitch competition: Taking place at the annual DIG SOUTH Tech Summit, the Wild Pitch program allows early- and growth-stage startups to present their pitch to a panel of judges and a live audience for a chance to win prizes and potentially attract future investors and partners.
  • LaunchBio’s The Big Pitch: Promising early-stage biotech startups in the west, south and northeast regions of the U.S. present their pitch to a panel of investors for a chance to win cash prizes, consulting and patent services, and other opportunities.
  • Carolina Challenge Summer Immersion: An offshoot of UNC Chapel Hill’s annual Carolina Challenge competition, the summer program provides networking, workshops, coaching and up to $2,000 in funding per team to help student entrepreneurs to continue their journey of building their ventures.
  • Meredith (Social) Entrepreneurship Challenge: An annual pitch competition that allows students with business/nonprofit ideas to compete for a $2,000 cash prize. Run by Meredith College’s School of Business, the program has awarded more than $30,000 since its launch in 2017, featuring 122 student participants and over 20 women judges and mentors.
  • UNC’s TraCS $2K program: Funding for researchers as they move forward with innovative studies and research projects.
  • UNC’s TraCS $5K–$50K: One-year research grants of up to $25,000, requiring 50% matching funds by campus departments or partner institutions. The program supports new research projects as they capture preliminary data before seeking future funding.
  • RIoT Your Reality Challenge: A competition program that calls entrepreneurs and innovators to create solutions to a set of civic challenges from the City of Raleigh and the Town of Cary. The winner gets a cash prize and a spot in the next RIoT Accelerator Program cohort.
  • NC State’s Sweat Equity Challenge: An app idea competition for undergraduate and graduate students, and faculty/staff, who will receive customer/market feedback to validate their ideas, develop a prototype, launch a startup and begin looking for funding to help take their business to the next level.
  • UNC-Chapel Hill’s Center for Health Innovation: A program offering pilot funding opportunities for UNC Health and UNC School of Medicine faculty and staff innovations.
  • Pitch: A Competition for Black Student-Founders: A program from Duke University and NC State inviting student entrepreneurs and recent alumni to present their businesses to a panel of investors for a chance to win a cash prize.

COVID-19 Resources for Local Startups & Small Businesses:

  • Business Recovery Grant: A new program available to North Carolina small businesses dealing with pandemic-related losses. Applications will close on Jan. 31.
  • The Small Business Administration’s Economic Injury Disaster Loan (EIDL) and Targeted EIDL Advance and Supplemental Targeted Advance programs. (Applications closed on Dec. 31.)
  • Southern Opportunity And Resilience (SOAR) Fund: A program that provides low-interest loans of up to $100,000 to small businesses and nonprofits in 15 states across the southeastern region, including North Carolina.
  • RETOOLNC: Grants ranging from $10,000 to $25,000 were awarded to state-certified Historically Underutilized Businesses (HUBs) and Disadvantaged Business Enterprise (DBE) firms.
  • North Carolina Humanities’ American Rescue Plan: Two grant programs supporting nonprofit or governmental organizations experiencing pandemic-related hardships. The programs offer $5,000 to $20,000 to be used for either programming/projects or operating support.
  • The U.S. Small Business Administration’s Restaurant Revitalization Fund: A program providing $28.6 billion in grants to assist restaurants and bars with pandemic-related revenue losses (up to $10 million per business and $5 million per location). Of that total, $5 billion would be set aside for businesses with 2019 gross receipts of less than $500,000.
  • We added an update for a new round of tax relief credits from the Internal Revenue Service: The available business tax credits covered paid leave, employee retention and more.
  • In the “Vaccine Information” section, we added a link to Wake County’s COVID-19 resource page.
  • The City of Raleigh’s Building Up-Fit Grants: The program funds improvements, renovations and/or additions to commercial property owned by local businesses.
  • We added an update about the new round of Paycheck Protection Program (PPP) funding for small businesses and nonprofits: With the PPP Extension Act of 2021 signed into law, the PPP application deadline was extended by 60 days to May 31. (The previous deadline was March 31.)
  • This resource page from the City of Raleigh’s Office of Economic Development and Innovation covers small business safety guidelines, updates on eased restrictions, funding, webinars on COVID-19 topics and more information.
  • The U.S. Small Business Administration’s Shuttered Venue Operators Program: Owners/operators of live venues, theatres, performing arts centers, museums and more eligible entities could receive grants equal to 45% of their gross earned income up to $10 million.
  • Three grant programs from Annuity Freedom, targeting artists, Black or minority business owners and women business owners
  • Wake Tech Community College’s Small Business Rally Fund: A fund to help 17 small businesses in Wake County that have been negatively impacted by the COVID-19 pandemic.
  • We added a link to this explainer we published on the latest round of Paycheck Protection Program (PPP) funding.
  • We added a link to this page from the City of Raleigh, which outlines the permit process for businesses that want to install outdoor seating and temporary structures.
  • We added a link to this list of nationwide funding options, compiled by the U.S. Small Business Administration. The curated index lists national, state, regional and local relief programs for small businesses.
  • Vaccine resources: The NC Department of Health and Human Services’ vaccine portal and FAQ page; this comprehensive resource from the NC Chamber about coronavirus vaccine distribution; WRAL’s guide to where to get your shot in central North Carolina
  • Greenlight Durham: A free COVID-19 support program for businesses in Durham, providing streamlined testing, symptom-monitoring for employees, and access to COVID-19 relief payments and other services.

Events & Meetups:

  • Raleigh Creative Entrepreneurs Meetup: A new event series from local working space Raleigh Founded. First launched in March, the meetup convenes local creative entrepreneurs and storytellers to share their latest ideas and projects in a fun networking environment.
  • First Flight Venture Center events: The life science startup incubator in RTP hosts regular lunch and learns, interactive presentations and workshops for life science entrepreneurs and innovators.
  • Raleigh-Durham Startups Clubhouse: A event series on Clubhouse featuring the stories of local entrepreneurs.

Incubators and Coworking Spaces:

All of the local coworking spaces and incubators we added in 2021:

Inspiration, Advice & More Resources:

  • Tech Innovation Index: A new report from the North Carolina Technology Association (NC TECH) provides a detailed snapshot of how the state’s metro areas compare to other top metros nationwide, measuring tech innovation across three broader categories: talent supply, talent demand and innovation.
  • “Tomorrow’s Unicorns”: A six-part multimedia series covering Raleigh’s most promising startups with “unicorn” potential (a term designated for companies surpassing the $1 billion valuation mark).
  • StartUp at Wake Tech: A new resource hub from Wake Technical Community College that offers free one-on-one business counseling, workshops and seminars, how-to guides and other content to help anyone start or grow a business.
  • Angel Resource Institute’s 2020 HALO Report: An inside look at the latest angel investing trends across the U.S. The 2020 report shows that the Southeast is the country’s second most active angel investor region, accounting for nearly 16% of deals. It also notes that early-stage life science and health care companies in the Raleigh/Durham area appear to be sourcing funds from outside investors in California, New York and Chicago.
  • National Venture Capital Association’s model legal document resource: Designed to be used in venture capital financings, the organization’s legal model templates include items such as term sheets, stock purchase agreements, voting agreements, management rights letters, and more.
  • Council for Entrepreneurial Development’s 2020 Innovators Report: This annual report provides an overview of North Carolina’s innovation economy and includes the latest data on funding, deal flow and exits. The 2020 edition reports a record $3.4 billion raised by 187 North Carolina companies across 223 deals.
  • NC State Entrepreneurship’s YouTube channel: Pitches and interviews featuring student founders, 101-style videos on topics like market research and networking, and overviews of startup programs and other resources for innovators on campus.
  • We Get Real AF (WeGRAF): A weekly podcast hosted by two Triangle women, Susanne Robinson and Vanessa Alava, discussing emerging trends in science and technology and interviewing the women powering them.
  • DurhamBusiness360.com: Run by Durham’s Office of Economic and Workforce Development, this site offers a comprehensive overview of the steps new business owners need to take to start and grow a business in the Bull City. It guides entrepreneurs and small business owners through the process of registering their business, planning an opening/launch, marketing, emergency preparedness, filing taxes and more.
  • 2021 Triangle Tweeners: Compiled by local entrepreneur and investor Scot Wingo, the annual “Triangle Tweeners” roundup tracks the Triangle’s most promising up-and-coming tech companies with at least $1 million in sales or 10 full-time employees.
  • “Startup Stories” web series from NC State’s Poole College of Management: This series features prominent alumni entrepreneurs and business leaders sharing their success stories.
  • RIoT’s YouTube channel: RIoT features a range of content for entrepreneurs, business leaders, technologists and IoT enthusiasts alike, including virtual lunch and learns, pitch events, panel discussions, live podcast streams and more.
  • Poole Podcast: Run by NC State’s Poole College of Management, this podcast features university faculty and industry leaders sharing their perspectives on thought leadership.
  • First Check, with Venture Capitalist Tim McLoughlin: This podcast is hosted by seasoned Triangle investor Tim McLoughlin, a partner at Cary-based VC firm Cofounders Capital. Every week, McLoughlin shares tips on VC and angel investing and interviews other investors.
  • 2021 State of the Region Address by Tom Snyder, executive director of RIoT: The 2021 edition focused on the impact of the COVID-19 pandemic on local business, the environment, the economy, diversity, equity and inclusion, and broadband.
  • Raleigh Founded’s 2020 Innovators Guide to Raleigh: A resource guide packed with information about Raleigh’s growing startup scene, including a recap of 2020 developments, success stories, plans for what’s to come, and more.
  • Talking Shop: A video series from Research Triangle Park-based startup prototyping lab Hangar6. The monthly series features a one-on-one discussion with entrepreneurs and innovators from the Triangle area. Episodes are streamed on Hangar6’s Facebook and YouTube channels.

Venture Capital & Angel Groups:

  • Triangle Tweener Fund: A fund targeting local early-stage startups that launched last month with support from 20-plus entrepreneurs.
  • RollingSouth: A new rolling fund from South Carolina-based angel investor group VentureSouth. The fund launched in October and targets early-stage tech startups across the Southeast.
  • We updated the Wolfpack Investor Network listing to include that the group has totaled $15 million in investments since its founding in December 2016, per the latest information from NC State University. We also added a new line to the Triangle Venture Alliance listing, noting that it has invested $53 million into 73 portfolio companies since 2016.
  • Chapel Hill-based Leeds Illuminate: This firm invests in growth-stage companies offering technology in early childhood, K-12, higher education and workforce development.
  • Duke Impact Investing Group: A student-run organization providing capital, mentorship, pro-bono consulting, due diligence and other resources for businesses. Its investment division manages Duke’s first-of-its-kind impact VC fund, totaling $100,000 and targeting businesses in education, health, fintech, consumer products, energy and environment sectors.
  • Tiverton Advisors: A Triangle-based investment group that exclusively focuses on agribusinesses. Equity deals range from $5 million to more than $50 million, focusing on production and processing agribusinesses, including permanent crops, row crops, dairies, poultry, and fruits and vegetables.
  • Carolina Research Ventures (CRV): This group invests in seed to early-stage ventures founded by UNC-Chapel Hill faculty, trainees and staff.