A recent analysis conducted by Innovate Carolina, the University of North Carolina at Chapel Hill’s (UNC) innovation services hub and University-wide initiative for innovation and entrepreneurship, documented the positive effect of UNC-affiliated start-ups during the past fiscal year.
According to this article in WRAL TechWire, the analysis demonstrates how Carolina-based start-ups work as engines for economic growth, creating jobs and strengthening local economies and communities as they seek to recover from the pandemic. More specifically, during fiscal year 2021, UNC start-ups and ventures had the following impact:
- $15.2 billion in annual revenue earned by UNC-affiliated start-ups with 95 percent of that revenue ($14.4 billion) coming from ventures headquartered in North Carolina;
- 12,767 people employed in North Carolina by UNC start-ups with 89,579 people employed by Carolina start-ups worldwide;
- 83 percent of active UNC-Chapel Hill start-ups (446 of 538) headquartered across 29 North Carolina counties; and
- $2.3 billion in funding raised during fiscal year 2021 (a total of $17.8 billion raised since 1958).