NCInnovation Bolsters its Private Funding Commitments with $500,000 Pledge from The Huntington National Bank
Durham, NC – NCInnovation, a nonprofit organization that helps turn North Carolina’s university research breakthroughs into commercially viable solutions, today announced a new private funding commitment of $500,000 from The Huntington National Bank’s affiliated foundation, The Huntington Foundation.
Kelly King, Chair of NCInnovation’s Board of Directors, said, “We’re thrilled to add Huntington Bank to our list of NCInnovation donors and supporters. Our work to support university applied research with commercial promise can be truly transformative, and I’m proud to count Huntington Bank as a partner.”
“North Carolina is home to some of the nation’s most promising research, which will improve lives and strengthen communities in North Carolina and across the country,” said Brant Standridge, Huntington Bank President of Consumer and Regional Banking. “At Huntington, we look out for people. One of the most impactful ways we can do that is to support organizations like NCInnovation as they help move ideas and research into products and services.”
Huntington Bank executives announced plans to expand the financial institution’s commercial presence in the Carolinas last fall and has added a growing team of local, experienced bankers specializing in commercial with middle market, corporate and specialty banking.
The Huntington Foundation’s $500,000 pledge brings NCInnovation’s private funding commitments closer to its $25 million target. Because of contributions from private donors like Huntington Bank, 100% of funds earned from the NCInnovation endowment directly support university applied researchers.
“Huntington Bank is committed to creating opportunities for economic growth in North Carolina. Helping to bridge the gap between research and capital is a great way to achieve this,” said Heath Campbell, Huntington Bank Executive Managing Director of the Carolinas. “North Carolina is home to some of the top research universities in the country. Our contribution will help maximize the impact of the cutting-edge research happening all across the state, resulting in tangible economic expansion and job growth.” NCInnovation helps accelerate the transition from academia to industry by supporting university researchers with grant funding and support services to advance their research breakthroughs toward commercialization. State and federal dollars already fund early-stage applied research – NCInnovation supports a critical leg of the university R&D relay race, helping promising discoveries become commercial-ready for entry into the private sector.
NCInnovation is a 501(c)(3) not-for-profit corporation focused intensely on support for North Carolina public university research that has commercial promise. NCInnovation deploys funding, mentors, and support services so that North Carolina university proofs-of-concept can turn into companies and create jobs that remain in North Carolina. Learn more at NCInnovation.org.