News Release

Chancellors Patricia Sullivan and James Renick shake hands after signing the technology transfer and commercialization agreement.

GREENSBORO--Triad entrepreneurs now have a new resource available to them, thanks to a joint initiative by The University of North Carolina at Greensboro and N.C. A&T State University which is being funded by Action Greensboro.

The tech transfer outreach initiative was formally announced by UNCG Chancellor Patricia A. Sullivan and A&T Chancellor James C. Renick in a June 26 ceremony. It is being funded at $165,000 annually for each of the next three years by Action Greensboro. Both chancellors signed a memorandum of understanding that outlines the general goals of the project, which was titled the "North Carolina A&T State University - University of North Carolina at Greensboro Partnership to Enhance Economic Development in the Piedmont Triad."

Chancellor Sullivan said that collaboration will lead to positive change for both universities and the Triad as a whole. "We are beginning a partnership that will enable both institutions to work together for the benefit of the city's economy," said Sullivan. "Our universities must become more fully engaged in the economy of the city and the region for our community to flourish. This partnership agreement is a solid step in that direction."

“Action Greensboro is pursuing a number of strategies to enhance the environment for small business development and entrepreneurship,” said Richard L. "Skip" Moore, chair of the Weaver Foundation and a member of the Action Greensboro board. “In this regard, we feel that actively engaging and facilitating the collaboration of the city's largest academic institutions, both with active research agendas, will result in more commercialization of local proprietary technology.”

Under the agreement, the two universities will operate an Office of Technology Transfer and Commercialization at the Nussbaum Center for Entrepreneurship (NCE), located at 2007 Yanceyville Street in Greensboro. From that office, they will provide support services for entrepreneurship, small business development, technology transfer and women and minority outreach.

“This initiative will facilitate the continued collaboration between two very strong institutions with acknowledged differences, yet shared goals,” said Renick. “By working together and tapping our expertise at all levels, we can enhance our involvement in shaping the face of the Triad’s changing economic climate.”

The new initiative grew out of a recommendation from Action Greensboro's task force on entrepreneurism and small business development. The project is part of an effort to enhance the entrepreneurship support services for the Nussbaum Center. The AG proposal calls for the creation of an operation that will facilitate technology transfer and commercialization through industry-university partnerships. It also is part of the Triad Entrepreneurial Initiative.

When fully realized, the proposal calls for providing comprehensive support services for entrepreneurship, small business development, technology transfer, and women and minority outreach. Expected outcomes include:

• Increased numbers of high-tech, high-growth tenants in the Nussbaum Center creating a vital university industry partnership through more effective leverage of university intellectual property.
• Enhanced community outreach initiatives for aspiring entrepreneurs and minority businesses.
• Replicable prototype for technology transfer initiatives with UNCG, NCA&T SU and other Triad institutions.

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