Our Model

Our Purpose

NCInnovation unlocks the innovative potential of North Carolina’s world-class public universities. We provide grant funding and support services to public university applied researchers working on discoveries that have commercial promise. NCInnovation helps inventions advance towards commercialization – accelerating the transition from academia to industry – by supporting university applied research through the critical research & development (R&D) phase between proof concept and readiness for the private market.

North Carolina’s public university system is the crown jewel of our state and home to some of the top minds in the world. However, North Carolina right now is not commercializing its university research success on par with the volume of its research and development activity. In fact, we’re falling behind other states – losing researchers, intellectual property and revenue as commercialization opportunities flee to other states with better innovation ecosystems or die on the vine without the support needed to scale into commercial products.

NCInnovation funds the crucial R&D stage between proof of concept and market readiness, often called the “valley of death.” We provide the necessary investment and support to transform research breakthroughs into thriving businesses that improve economic opportunities in all regions of North Carolina.

Go Deeper: Learn more about the university R&D process, and the specific phase in which NCInnovation targets its support.

What We Do

We help public university researchers move inventions to market, creating long-term economic benefits for all regions of the state. State and federal dollars already fund early-stage applied research; NCInnovation supports the final leg of the university R&D relay race, helping promising discoveries become commercial-ready for the private sector

Grants Programs

NCInnovation’s grant program supports public university applied research that has the highest potential for commercialization. NCInnovation provides funding and support services at the critical middle-stage of the R&D process. Applied researchers at all 16 UNC System universities are eligible for grants. NCInnovation does not fund private companies or take equity positions in exchange for grant funding.

Regional Innovation Networks

NCInnovation focuses on public university-based applied research across North Carolina. Through a statewide footprint, NCInnovation’s Regional Directors connect public university researchers with industry partners, private sector knowledge, and support services to accelerate effective commercialization strategies across the state. NCInnovation operates four regional innovation networks anchored by “hub” universities.

Bridging Academia to Industry

NCInnovation unlocks the innovative potential of North Carolina’s world-class public universities. We do this by providing grant funding, mentorship, and partnership development to public university applied researchers working on discoveries that have commercial promise, helping accelerate the transition from academia to industry.

University applied research portfolios are natural engines of economic growth and have underpinned American technological dominance for decades. If matured properly and with commercialization as an end goal, the applied research underway in North Carolina’s public universities can create jobs and economic growth in every corner of the state.

Fiscally Responsible Research Support

NCInnovation re-deploys state reserves into an endowment to help commercialize the successes of those investments. This endowment model is core to NCInnovation’s value proposition to the state. The North Carolina state budget established the $500 million NCInnovation reserve, split into $250 million allocations over two years. Instead of spending taxpayer dollars from the state budget each year, these funds create an endowment that is independently managed to produce interest and low-risk investment income which funds NCInnovation’s programs.

With administrative costs funded by private contributions, 100% of NCInnovation’s program funding goes directly to North Carolina public university researchers. NCInnovation and its endowment are governed by a Board of Directors comprised of seven General Assembly appointees and five private members with decades of combined senior leadership experience.

In 2025, the North Carolina Office of the State Auditor conducted a performance audit and confirmed that NCInnovation complied with state laws and procedures in documenting both private funding commitments and awarding grants.

How We Work