NCInnovation Names Michelle Bolas Acting CEO as Organization Build on Statewide Momentum
Research Triangle Park, NC – Inside a regularly scheduled board meeting today, NCInnovation (NCI) took a clear next step in its growth: Michelle Bolas, Executive Vice President and Chief Innovation Officer, was named Acting CEO effective December 1, succeeding J. Bennet Waters, who will step down November 30 after leading the organization since April 2022. Waters was commended for his leadership and for achieving key milestones that position NCI to build upon its success.
NCI was created to turn North Carolina’s university discoveries into home-grown companies, scale those companies, and ultimately create jobs across the state. The Board’s decision to appoint Bolas underscores organizational continuity and acceleration at a pivotal moment in NCI’s trajectory.
Since its founding, NCI has awarded $18.8 million in funding to 25 projects across 14 UNC System institutions, helping transform university research into practical innovation. These awards move technologies from bench to market readiness in sectors essential to North Carolina’s economic future—including advanced manufacturing, ag-tech, biotech, advanced materials, energy transition technologies, and textiles. The Program Committee of NCI’s Board of Directors is currently reviewing proposals for the next round of funding and is expected to recommend a new slate of projects to the full Board in early December.
Bolas joined NCInnovation in January 2023 after more than a decade advancing innovation at UNC-Chapel Hill. She brings over 25 years of experience working at the intersection of higher education, industry and government and previously served as Executive Director of Innovate Carolina and Chief Innovation Officer at UNC-Chapel Hill, where she led the Innovation Roadmap initiative and accelerated invention disclosures, patenting and licensing efforts.
Board Chair Kelly King said, “Over the past several years we have built NCInnovation as a bridge between university research and regional economic growth. I’m deeply thankful to Bennet Waters for his leadership through that critical phase. With Michelle Bolas stepping into the Acting CEO role on December 1, the Board is confident that the momentum we’ve created will continue—her experience, track record and deep knowledge of our innovation ecosystem make her the right leader for this next chapter. Our mission remains the same, our sense of urgency has never been greater, and we are poised to accelerate impact across North Carolina.”
Bolas framed her vision by saying, “Converting innovation to impact drives thriving economies, and it’s the key to a prosperous future for all of North Carolina. Our public universities make that vision possible. I’m honored to step into this role and help NCI carry that mission forward—turning ideas discovered here into opportunities grown here.”
The Board engaged The Nautical Group to run a national search for a permanent CEO and President. That is expected to take three to six months.
NCInnovation, Inc. is a Research Triangle Park, NC-based 501(c)(3) public-private partnership designed to accelerate commercialized innovation from North Carolina’s research universities. Backed by more than $25 million in private philanthropic commitments, NCInnovation uses the interest and income from a $500 million State-funded endowment to provide non-dilutive grant funding, mentors, and support services so that North Carolina university proofs-of-concept return value to the regional communities that created them. Learn more at NCInnovation.org.
