Background
How Does NC Compare?
TEConomy Partners, LLC analyzed dozens of innovation metrics in North Carolina and across the country, comparing our state to six peer competitors:
Arizona
Colorado
Georgia
Massachusetts
South Carolina
Tennessee
North Carolina’s Innovation Performance Doesn’t Measure Up to the Size of Its Research Base
The data reveals economic outputs and R&D inputs are not aligned.
NC rank (of 7 states) and Comparison to U.S. (Above/Below)
|
Measure per GSP
|
Change since 2010
|
Change since 2015
|
|
|---|---|---|---|
| University R&D |
2nd
|
6th
|
5th
|
| Industry R&D |
3rd
|
2nd
|
3rd
|
| Industry-Academic R&D |
2nd
|
7th
|
7th
|
|
Measure per GSP
|
Change since 2010
|
Change since 2015
|
|
|---|---|---|---|
| Publications |
NA
|
NA
|
NA
|
| Patents |
4th
|
6th
|
5th
|
|
Measure per GSP
|
Change since 2010
|
Change since 2015
|
|
|---|---|---|---|
| Venture Capital |
4th
|
4th
|
3rd
|
| SBIR Awards |
3rd
|
1st
|
2nd
|
R&D
Where Are the Funds Being Invested?
A major variance in research funding between regions is to be expected. But with the lack of research funding at other institutions also comes less developed research commercialization and tech transfer operations. Even if researchers develop products with viable marketplace applications, they lack a clear pathway to commercialization.
Charlotte
Eastern
Fayetteville
Piedmont Triad
Research Triangle
Western
Wilmington
Capital Landscape
A Closer Look
Commercialization is impossible without capital. North Carolina’s capital landscape is severely underdeveloped compared to competitor states and it’s getting worse, not better.
- The only region of the state with higher-than-average venture funding is the Triangle.
- The problem is even starker when viewing venture dollars compared to total R&D funding.