Business

June 5, 2014

Report: $461M raised by NC startups in 2013

More than $461 million was raised last year by North Carolina entrepreneurs through equity investments, grants and awards, according to a report issued by the Durham-based Council for Entrepreneurial Development.

More than $461 million was raised last year by North Carolina entrepreneurs through equity investments, grants and awards, according to a report issued by the Durham-based Council for Entrepreneurial Development.

CED reported that 260 investments were made in life science, technology and advanced manufacturing companies.

“The Innovators Report suggests that the level of interest in North Carolina companies is higher than what many had anticipated,” said CED President Joan Siefert Rose, in a statement.

Nine North Carolina-based companies filed IPOs in the calendar year, compared to 26 in the entire Southeast region. The state saw only one IPO in 2012, from Cempra Pharmaceuticals.

Investments in life science companies outpaced technology companies in the quantity of deals as well as dollar amount. Life science companies received $244.7 million in equity and more than $30.7 million in grants and awards. Technology companies received $116.1 million in equity and $225,789 from crowdfunding. Crowdfunding platforms such as Kickstarter provide ways for people to invest smaller amounts in startup companies.

CED also tracks investments in advanced manufacturing, which accounted for $68 million of the $461 million raised.

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