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NCBiotech's mission is to accelerate life sciences technology-based economic development through innovation, commercialization, education and business growth. Through the Emerging Company Development program, the Center invests in promising, emerging life science companies across the state. These investments are intended to help recipients achieve meaningful research and commercial milestones. This in turn enables them to attract additional funding to fuel their growth. Historically, each dollar of NCBiotech investment has been followed by an average of $104 in follow-on funding. This funding includes government grants, angel and venture capital investments, IPOs and strategic partnerships. Small Business Research Loan (SRL) supports business inception and research critical to the development of products, processes or tools with clear commercial potential: Award range: $75,000 to $250,000. Strategic Growth Loan (SGL) matches Biotechnology Center investment with angel or venture capital investments to fund life science companies that have established technical proof-of-concept and require further support to accelerate growth. Award range: $250,000 to $500,000. NCBiotech provides limited access to office space with its Landing Pad program, but the Center does not house wet labs. Since 1989, NCBiotech has invested in more than 280 North Carolina life sciences companies through loan and convertible note programs.
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