University Chancellors Express Support for NCInnovation at UNC Board of Governors Committee on Educational Planning, Policies, and Programs Meeting
“I think it’s so important we use this extraordinary resource… to make certain that our best and brightest aren’t leaving the state, that we’re filling this gap, and perhaps even reaching out to bring others into the state.” – UNC System Board of Governors Committee on Educational Planning, Policies, and Programs Vice Chair Gene Davis
Raleigh, NC – Michelle Bolas, NCInnovation Executive Vice President and Chief Innovation Officer, addressed the University of North Carolina Board of Governors Committee on Educational Planning, Policies, and Programs on Feb. 26, 2025, providing an update on NCInnovation’s (NCI) progress over the past 15 months to advance research with commercial potential. By expanding the innovation-driven economic model that has propelled Research Triangle Park’s success statewide, NCI provides the funding and support needed to spur job creation and strengthen North Carolina’s position as a leader in technology and innovation.
Bolas shared, “Our state showed great vision more than 50 years ago in the creation of Research Triangle Park and today looks to NCI to extend that success across the state, anchoring in the potential of our regional universities. NCInnovation is also squarely rooted in the American economic tradition and model of robust partnership between academic research, universities, and private industry that has underpinned decades of innovation, creating jobs for the graduates of all of our institutions.”
With NCI grants already advancing research at eight universities across the state, the Committee voiced strong support for NCI’s efforts to accelerate commercialization and drive sustained economic growth statewide.
UNC System Board of Governors Committee on Educational Planning, Policies, and Programs Vice Chair Gene Davis stated, “I think it’s so important we use this extraordinary resource… to make certain that our best and brightest aren’t leaving the state, that we’re filling this gap, and perhaps even reaching out to bring others into the state.” Davis continued, “The research enterprise, our university system, is truly extraordinary and has created hundreds of thousands – if not millions – of jobs in our state.”
UNC System Vice President for Academic Programs, Faculty, and Research Dr. David English highlighted the importance of sponsored university research and UNC’s partnership with NCI, “This is the third meeting in a row that we’ve discussed the importance of sponsored research in the UNC System… Since we last met, East Carolina University and UNC Charlotte both received the Carnegie R1 designation that was anticipated.” Said English. “This is a partnership that accelerates and advances the work of our institutions and we’re fortunate to have seven regional hubs that serve as leaders in this space.”
UNC System Board of Governors Chair Emeritus Randall Ramsey expressed his confidence in NCI’s ability to transform the state’s innovation landscape, “As I was listening to Ms. Bolas talk, I thought about a meeting I was in… listening to the leadership that put NCInnovation together talk about how transformational it could be, not only for our universities but also for the populace of the great state of North Carolina and beyond.”
North Carolina’s world-class public universities are national leaders in research and development (R&D) funding. However, the state has faced challenges in translating that research into thriving businesses and economic growth. To become an innovation leader, North Carolina must ensure that the technology and ideas developed in its universities stay, grow, and drive economic success right here at home.
UNC System Board of Governors Member Woody White compared NCI’s model to proven success in academia. “This is seed money. It’s meant to be planted and then grow and blossom. If you look at MIT, Harvard, or now Austin and some of these other places, Silicon Valley particularly, they use this seed money, they plant it, they take it to the public market, they keep it private, they expand, it creates jobs – it mushrooms,” said White. “I think that’s what a lot of people are missing about what [NCI] is really supposed to do. Every university in the past 30-40 years has seen that it’s been there organically but it has not been cultivated like [NCI] is meant to cultivate it – with intention and vision.”
North Carolina Agricultural and Technical State University Chancellor James Martin said, “This is a terrific program, and I think it has the potential for very high ROI. There is a methodology to this – there are both primary benefits to the program, but we have to think in terms of ecosystem. As someone who has studied this from a systems standpoint, these things start to grow exponentially because of who’s there because somebody else is there. It’s not the direct impact, it’s secondary and tertiary.”
Bolas closed her presentation by emphasizing NCI’s pivotal role in addressing North Carolina’s challenges in turning research into commercial success. Designed to bridge the gap between discovery and commercialization, NCI isn’t just about keeping groundbreaking ideas in-state—it’s about building a sustainable ecosystem where innovation flourishes.
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.
