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North Carolina State Budget


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									               North Carolina State University 2007-2009 Legislative Budget Request

 EEED Entrepreneurship & Regional Cluster-Based Economic Development                            $2.0 million

                                            Executive Summary

Significant opportunities exist statewide to create new jobs and investment within targeted industry clusters via
entrepreneurship, technology innovation and the creation of new products, as well as proactive corporate
recruitment and retention. NC State University will leverage and expand its capacity to foster entrepreneurship,
develop high-growth-potential companies and commercialize new technologies, and recruit and retain jobs and
investment as part of a new, regionally organized effort in high priority regional industry clusters: 1) Nonwoven
and other advanced textiles, 2) Medical devices and advanced medical care, 3) Value-added
agricultural/aquacultural products, and 4) Advanced manufacturing of aerospace, automotive, and marine parts.

Entrepreneurship education, training and technical assistance increase the rates of new firm creation, survival,
and expansion; and industry clusters offer individual regions of the State focused opportunities for job and
investment growth. With its presence and partnerships statewide, NC State will align its networks and, with new
capacity, a) foster microenterprise (five employees or less) entrepreneurs, b) secure the production of new high
technology-based products, c) expand international marketing and export trade opportunities, and d) pursue
focused recruitment and retention in the four targeted clusters. Within each cluster, NC State will address the
specific needs of entrepreneurs and companies for skilled workers, new materials and processes, new product
and trade opportunities, capable suppliers and service providers, and good product ion environments. Doing so
will generate a projected 2,500 new or retained jobs per year and recurring returns on investment over time via
entrepreneurship and high-growth-potential companies involving youth and adults, women and minorities,
individual communities, regionally and statewide. In this way, NC State will continue its commitment to the
philosophy and practices of its existing Gateway County Initiative; improving access to University resources by
local citizens statewide to foster economic growth.

Objectives: To strengthen the economy and social fabric of North Carolina, NC State will build on its platform
of inter-institutional cooperation to:
     1. Increase financial and entrepreneurial skills among students and workers.
     2. Respond to community-specific needs for entrepreneurial support infrastructure.
     3. Secure manufacturing and production opportunities resulting from innovation and entrepreneurship.
     4. Pursue cluster-based economic development strategies for job and investment creation.
     5. Increase the global competitiveness and export market opportunities of North Carolina enterprises.

Strategies: These objectives will be pursued via the following action plan:
    1. Align and leverage University networks, in partnership with other universities, community colleges, and
       each of the regional Economic Development Partnerships of the State, to support entrepreneurs and new
       enterprises, and grow and attracted established firms within targeted clusters. For example, we will
       work with the Research Triangle and Southeast Regions in nonwoven and advanced textiles, and the
       Eastern, North Eastern, and Advantage West Regions in aerospace, automotive, and marine parts.
    2. Use research advances in science and technology to improve the competitiveness of North Carolina
       firms in today's global market. Rapidly assess innovations, in such areas as biomedical textiles and
       devices, for commercial viability and provide necessary services to launch new products and companies
       with high growth potential.
    3. Regionally deliver a critical mass of services via new teams of co-located field specialists with targeted
       industry expertise, supported by additional economic development and international marketing and
       export trade professionals.
    4. Engage students and value-adding partners within all sectors and across the State.
    5. Conduct program assessment to satisfy stakeholder requirements and demonstrate accountability.

Budget Request:
Supporting entrepreneurs, nurturing high-growth-potential technology companies and growing region-specific
industry clusters are personnel-intensive activities requiring new campus and field faculty and staff. Field
faculty will be co-located at existing NC State Extension offices, host universities and community colleges, and
regional partners, eliminating the need for facility investments. This also places NC State professionals directly
in communities. Also included within the budget is $60,000 to engage 10 undergraduate and graduate students
in specific community-based projects.

1. Industrial Extension Service - Regional Industry Field Specialists (2) - Providing technical $      165,000
   assistance to individual firms in targeted clusters from field locations.

2. New Business Creation Initiative -Technology Assessment and Licensing staff (2) -                   360,000
   Forming investment-grade technology firms (including legal and other consultants)
   Student Interns                                                                                      40,000

3. Economic Development Partnership
   Regional Industry Cluster Developers - Engaging University resources with the economic              870,000
   development community to grow and retain resident firms and attract new companies
   within targeted industry clusters;
       Nonwoven and other Advanced Textiles (1.5)
       Medical Devices and Advanced Medical Care (2)
       Value-added Agricultural/Aquacultural Products (2)
       Advanced Manufacturing (Aerospace, Automotive, and Marine) (2)
   Design Extension Coordinator (1) - Coordinate delivery of industrial
   and community design expertise to facilitate new product development and
   manufacturing and enhance the attractiveness of North Carolina communities.
   Technology Transfer Specialist (1) - Manage intellectual property and support
   new product development opportunities resulting from industry collaborations
   and design extension activities.
   Student Interns                                                                                      20,000
   Administrative Assistant V (1)                                                                       50,000

4. Small Business and Technology Development Center
   Regional Industry Field Specialist (2)                                                              165,000
   Providing business counseling, management education and technical expertise from
   field locations.

5. North Carolina Cooperative Extension Service
   Minority Owned Business Specialists (2) -                                                           170,000
   Entrepreneurship education, training and technical assistance to
   Hispanic/Latino community

6. International Business Development
   International Trade and Export Marketing Specialists (2)                                             160,000
   Developing international trade opportunities for North Carolina firms and growers.

        Total recurring request                                                                     $ 2,000,000



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