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Investment group offers funding for North Carolina startups

North Carolina
Investment group offers funding for North Carolina startups

Story excerpt provided by Time Warner Cable News
Written by Amara Omeokwe

Starting a company can come with challenges, and raising money is often one of the biggest. One group of investors visited Wilmington Tuesday to explain how they can help start-ups looking for funding.

One man, Scott Kanyok, knows well how tough it can be for young businesses to raise money.

His 2-year-old nutritional shake company, UB Real, is based in Wilmington and is currently exploring retail distribution strategies. Kanyok says this process requires capital and that getting that money won’t necessarily be easy.

"It's a learning curve, because when you live your story everyday, it obviously makes complete sense to you; but, trying to educate people of where you're going and to come in and fund your mission is challenging," said Kanyok.

That's where Innovation Fund North Carolina hopes to step in. The program is a statewide initiative that came to the University of North Carolina Wilmington (UNCW) Center for Innovation and Entrepreneurship (CIE) on Tuesday. The goal was clear: to raise awareness of funds it offers early-stage companies.