DURHAM - The entrepreneurial support organization and nonprofit NC IDEA has elected Peyton Anderson as chair of the organization's board of directors, and
RESEARCH TRIANGLE PARK – A new working paper from the Kauffman Foundation finds that newly launched startups continue to create new jobs even in times of recession.
The study looks at data from employer startups less than one year old and employer firms one year and older, as well as younger employer firms compared to older employer firms. The bottom line: During the prior four recessionary periods in the United States, startup job creation appeared uncorrelated with these economic downturns.
“Startup net job growth is not impacted during economic downturns or recessions because new firms haven’t yet shed or destroyed jobs,” said Thom Ruhe, president and CEO of NC IDEA, commenting on the study in an interview with WRAL TechWire. “Typically all they do in their first year of existence is hire folks; namely create jobs.”
by NC IDEA May 4, 2021 .
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DURHAM – NC IDEA, a private foundation committed to supporting entrepreneurial ambition and economic empowerment in North Carolina, alongside the leadership of the North Carolina Black Entrepreneurship Council (NC BEC), announced today that the organization has awarded $140,000 in ENGAGE grants to fourteen partners throughout the state executing on innovative and transformational ideas that will elevate Black Entrepreneurship.
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“Under the leadership of the NC Black Entrepreneurship Council and with this newest cohort of partners, we have now deployed over half a million dollars into the ecosystem to help address the challenges of Black entrepreneurship in North Carolina,” said Thom Ruhe, CEO and President of NC IDEA. “By partnering with these organizations
by Special April 26, 2021 .
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DURHAM – NC IDEA, a private foundation committed to supporting entrepreneurial ambition and economic empowerment in North Carolina, announced today that the organization has awarded nearly $200,000 to nineteen North Carolina startups in its sixth NC IDEA MICRO grant cycle. Since the inaugural cycle in Spring 2018, NC IDEA MICRO has awarded nearly $1 million to 96 young companies across the state.
Through small, project-based grants, NC IDEA MICRO awards $10,000 in funding to young companies looking to validate and advance their idea. The program piloted in Spring 2018, was created as an expansion of the Foundation’s long-standing SEED grant program to provide funding to younger, promising startups not yet positioned for the Foundation’s traditional $50,000 grants.
RESEARCH TRIANGLE PARK – Necessity apparently is the mother of entrepreneurship, at least in the times of the COVIDA-19 pandemic. And North Carolina entrepreneurs are those responding at high rates, especially with so-called “high propensity” potential – the potential to create payrolls and thus jobs.
These new firms could produce more than 200,000 jobs over time, according to data from NC IDEA, an economic development foundation in Durham.
Nationally, the rate of new entrepreneurship is the highest it’s been in 25 years and possibly longer. That’s according to a report released this week by the Kauffman Foundation, which found that 380 people out of every 100,000 adults 0.38 percent became new entrepreneurs in any given month of 2020, and increased throughout 2020.