Home to one of the world’s best research universities, Chapel Hill seems like the perfect place for entrepreneurial start-ups. Great ideas are born here. It stands to reason they should grow up here, too.
The only thing which seems to be currently missing is a literal space for businesses to locate in. With UNC’s own innovation efforts, there’s great potential for synergy with a county-wide effort.
Yet Chapel Hill feels woefully behind. Start-ups have little room to grow, and Orange County lacks the vision of other parts of the Research Triangle. Companies such as Two Toasters, which develops iPhone and Android apps, have already relocated to other parts of the triangle due to Chapel Hill’s lack of incubator space. It’s not from a desire to be elsewhere, but rather a necessity.
Two Toasters is now located at “American Underground,” an impressive facility in Durham dedicated to young start-ups. That facility is 26,000 square feet of space designed specifically with collaboration and innovative interaction in mind.
Fortunately, our economic development officials are finally starting to realize the problem.
If passed in November, the proposed quarter-cent sales tax increase would be used in part to fund the catch-up growth and development of incubator space for start-ups to develop innovative ideas.
Chancellor Holden Thorp has made entrepreneurial innovation his legacy with the Innovate@Carolina initiative. It will be important to see how county officials intend to marry the push for developing fresh incubator space with the aims of Thorp and the University.
Judith Cone, special assistant to the Chancellor for innovation and entrepreneurship, says that while it’s still early, there is already some dialogue.
“There’s a lot of goodwill — a lot of interest,” she said.
