Innovate Carolina

Innovate Carolina, the university’s campuswide initiative for innovation, entrepreneurship and economic development, offers support and services to faculty, staff and student entrepreneurs at UNC-Chapel Hill. Our programs and services help Carolina innovators and entrepreneurs launch startups and create market-ready technologies, products and services. By helping these problem-solvers move more inventions and valuable ideas into the world faster, we make the greatest social and economic impact possible.

This year, we are highlighting our student innovators. Your gift to the Innovate Carolina Student Fund (081407) directly supports all of Innovate Carolina’s student programs like startup internships, 1789 venture fund, Luby pitch competition and more.

Student Innovation

The 1789 Student Innovation Community and Incubator, operated by Innovate Carolina, is UNC-Chapel Hill’s campuswide hub for student innovation and entrepreneurship. It helps undergraduate and graduate students solve entrepreneurial problems, launch ventures, participate in pitch competitions and events, and pursue careers in innovation.

Student innovation community. During FY25, there were 507 active student members, contributing to a cumulative membership of more than 1,394 students since 2018.
Student startups. Current and former members of the 1789 incubator have founded 244 startups, raising $47.2 million in total funding. Of those startups, 100 remain active and earned $37.4 million in annual revenue while creating 5,346 jobs.
Student venture fund. Established in 2019-2020 by Jim Kitchen, an entrepreneur and Professor of the Practice at Kenan-Flagler Business School, the 1789 Student Venture Fund draws from revenues generated by student-run ventures in his business course. As of FY25, the fund has provided 163 funding awards to 137 student startups. Of these startups, 67 remain active and earned $7.9 million in annual revenue and created 5,676 jobs in FY25.
Pitch competition. Established in 2024, the Joan and Chester Luby Pitch Competition offers substantial support for leading student ventures. Funded through the Joan and Chester Luby Charitable Trust, it has distributed $187,000 in total funding to 16 student startups, which have gone on to raise $836,000 in total funding.
Student-startup career development. Carolina Innovators Connect is a program that helps UNC-Chapel Hill students explore startup careers and gain professional experience. Since 2021, it has connected 850 students to 190 startups for career development. This includes 33 student interns funded by Innovate Carolina to support startup growth in North Carolina.

Moving Research to Market

Research discoveries that sit dormant on lab shelves don’t do anyone any good. That’s why Innovate Carolina’s Office of Technology Commercialization team works closely with UNC-Chapel Hill researchers to take their scientific discoveries to market. Whether it’s licensing Carolina-born technologies to industry or launching new startups, we find the smartest paths to human and economic impact.

42 UNC research-based products on the market (since 2006).
4,776 invention disclosures (cumulative).
1,426 issued U.S. patents to Carolina inventors (cumulative).

Nearly 200 startups based on UNC intellectual property (cumulative).

Creating Startups and Impact

Carolina startups begin with the passion that student, faculty and alumni founders have for solving hard problems. Problems like devastating diseases, environmental hazards, economic hardship, hunger and poverty, technological quandaries, and energy challenges.With more than 1,200 UNC-affiliated startups launched—and over 680 ventures remaining active—the human and economic impact of Carolina startups is significant. For instance, the 537 active UNC startups headquartered throughout 32 North Carolina counties generate economic and employment impact across the state and within local communities.

$4.29 billion in value added to North Carolina’s GDP (FY25).
$7.96 billion in total economic activity generated by UNC startups in North Carolina (FY25).
33,643 total jobs supported by UNC startups in North Carolina (FY25).

Junction Innovation Hub

Innovate Carolina’s offerings include the Junction Innovation Hub, UNC Institute for Convergent Science, technology commercialization, student innovation services, market research and competitive intelligence services, startup accelerators and support, as well as design thinking consultations and workshops that guide entrepreneurs to develop products and services that customers want.

Your past support has led to…

1,270+ UNC-affiliated startups launched by students, faculty, staff and recent alumni (since 1950).
131,000+ jobs created by 682 active UNC startups (FY25).
$22.6 billion in annual revenue earned by UNC startups (FY25).
$48.9 billion in total capital raised by UNC startups (cumulative).