A New Era of GROWTH
Meet Our Team
Abha Bowers
JP Maloney
Hunter Young
Elaina Bade
Preet Mankad
Alex Bloom
Katelin Wheeler
Jay Bigelow
Yash Mehta
Reflecting on my first six months as CEO of CED, I am both humbled and energized by this organization — what we have accomplished, what we are doing now, and the significant opportunity that lies ahead.”
CED has spent 42 years helping founders build and scale their companies through proven programs and continued innovation. That legacy is a powerful foundation, and our best work is still to come.
When I accepted this role, I drew on more than a decade of personal experience with CED — as a mentor in the VMS program, a coach in the inaugural GRO cohort, and earlier as an entrepreneur myself, seeking capital and connections. As a four-time tech CEO, I understand firsthand what founders need to succeed. I am proud to lead an organization singularly dedicated to providing it.
CED is unlike any other organization in this space. Our sole focus is helping founders build their businesses and elevating the profile of this region. We accept no government funding, lease no real estate, and rely on no endowment. We are built by the ecosystem, for the ecosystem — sustained by the alumni who came before and the partners who supported them. That includes you. Your continued commitment has been essential to everything we have achieved, and I am genuinely grateful for it.
I also want to be direct: there is more we can accomplish together, and I am eager to do it.
At Venture Connect, Yoram Wijngaarde of Dealroom affirmed what our data reflects — the Triangle has moved beyond the startup phase and into what he defines as
the emerging stage of global ecosystem development. With more than 3,800 highgrowth companies, a combined market cap of $185 billion, and over 210,000 people employed across our innovation economy, we are no longer an early-stage ecosystem. We are substantial, established, and well-positioned for what comes next.
The ingredients for top-tier global standing are here. CED has helped bring us to this point, and we are not satisfied to stop here. With your continued support, we are committed to leading the Triangle’s next phase of growth.
The pages that follow outline our 2025 impact and the priority areas where we see the most promising opportunities ahead. I welcome the chance to connect with each of you, share more about our direction, and explore how you can play an even greater role in this collective effort.
Thank you for your partnership. I look forward to building the future of this ecosystem — together.
Best,
Alex Bloom | CEO Center for Entrepreneurial Development
Companies that partner with CED don’t just grow —
they outperform. Compared to their non-CED peers, CED supported companies raise more total funding, complete more funding rounds, and score higher on Dealroom signal — a composite measure of growth, traction, and investor interest.
The data is clear: CED support is a growth multiplier.
more total funding raised vs. non-CED companies 4.8X
more funding rounds completed 3.6X
2.1X
higher Dealroom Signal score — indicating stronger overall company health and investor attractiveness
CED PARTNERS VS NON CED PARTNERS
* Dealroom Signal is a proprietary predictive algorithm that identifies promising startups and tech companies likely to raise funding soon, designed for investors to discover high-growth opportunities. It calculates a score based on four main inputs: company growth, founder strength, profile completeness, and funding timing.
Doubling Down on Dealroom
At the end of 2024, we launched Dealroom powered by CED—a real-time dashboard tracking enterprise value across the Triangle ecosystem. Thanks to the early engagement of founders, investors, and partners across the region, the platform already offers one of the clearest, most comprehensive snapshots of our innovation ecosystem.
The data speaks for itself: 3,800+ companies tracked, $185B in ecosystem value, and a growth trajectory that
Let’s keep building on it. Access the dashboard at cednc.dealroom.co.
puts the Triangle firmly in the conversation with the top tech hubs in North America. That picture exists because this community showed up.
Now we’re asking you to help make it even sharper. Every profile updated, every funding round logged, and every new connection made strengthens the tool for everyone — founders seeking capital, investors sourcing deals, and partners tracking the ecosystem they help build. The foundation is strong. Let’s keep building on it.
If you’re a company building in the Triangle, make sure your Dealroom profile is claimed and up to date.
We would put this region in the breakout stage… on par with Seattle and Los Angeles—on its way up. And the conversion from startup to scale-up to breakout is really good [in the RTP area].
YORAM WIJNGAARDE IN CONVERSATION WITH BILL SPRUILL
Investor engagement tools available to partners
Dealroom features:
Regional capital heatmaps
Startup trends
A Community Built for Founder & Operators
As the Triangle continues to rise among the nation’s leading startup ecosystems, momentum alone isn’t enough — sustained growth comes from a self-reinforcing cycle of support and action. That’s the flywheel at the heart of CED, and FORGE is where it spins fastest.
FORGE is a founder-first community where startup leaders and operators connect, learn, and grow through peer cohorts, curated resources, and shared experience.
The more founders who move through FORGE, the stronger the community becomes. The stronger the community, the more founders succeed. And the more founders succeed, the more they pour back into the ecosystem that helped get them there. That loop turns density into velocity — and ensures the Triangle thrives for years to come.
747
STARTUPS SUPPORTED
13K+
SUPPORT HOURS
1,032 47%
INTRODUCTIONS MADE
UNDERREPRESENTED FOUNDERS SUPPORTED
As a company from abroad, coming from Europe with very high ambitions in the U.S., getting plugged into the local community through CED has had a huge impact on us. It has connected us with the right people across every area, whether commercial, HR, operations, and beyond. The support we have received has been genuinely mind-blowing. It has influenced everything from finding the right location to establishing meaningful commercial opportunities. It has truly been a testament to the power and strength of this supportive community.”
ADAM HARTMANN-KRUCKOW | EUPRY | FOUNDER
The Flywheel that Powers the Ecosystem
Meet our 2025 Founders-in-Residence. Our FIRs are successful founders who now advise, teach, and champion the next generation. We introduce them to the right founders at the right time.
My mother often quoted a Chinese proverb: ‘xi shui chang liu’—the small stream flows long. CED has been that steady stream in my journey: early-stage support when I was just starting out, relationships that compounded over the growth years, and now the chance, as a CED Founder-in-Residence, to pour that support back into the next generation of entrepreneurs.”
Thank you to the entire CED team for creating such a powerful, transformative program. The GRO Incubator came at a pivotal moment and helped me refine my strategy, strengthen my narrative, and step fully into my founder identity — momentum that led to Squadies being selected as one of 12 global AWS × Techstars finalists and opening doors with enterprise partners, angels, and VCs. GRO10 didn’t just shape my company; it shaped me, and I’m deeply grateful for the support, connections, and belief in founders that made it possible.”
RYAN BROWN | SQUADIES | FOUNDER & CEO
Agtech Founder in Residence
MedTech & Commercialization Founder in Residence
Deeptech Founder in Residence
Biotech Founder in Residence
Saas Founder in Residence
Software & Growth Founder in Residence
Giles Shih
Leah Townsend
George Wildeman
Kelli Luginbuhl
Jed Carlson
Tyson Nargassans
Capital at Work
ACCELERATE is CED’s strategy for making capital move smarter, faster, and more intentionally in the Triangle. Whether through large-scale programs like Venture Connect, or curated 1:1 introductions, our goal is simple: help the right investors meet the right startups—and build confidence in the region’s capacity to deliver.
2025 was a year of growth for ACCELERATE. We directly connected over 100 unique investment funds from 22 states with Triangle-based founders. The conversations didn’t stop at introductions—more than 400 curated investor-to-investor and founder-to-investor connections were made, often leading to follow-on meetings, diligence, and real dollars moving.
OUTSIDE OF NC 68% FUNDS ENGAGED 405
INVESTOR INTRODUCTIONS 421
CED is an incredible resource for founders and funders looking to get connected in the Triangle. I’ve seen and experienced how programming like their Venture Connect, Investor Fly-In, and Strength In Numbers events grow local talent and raise the region’s profile with national investors.” MAHATI SRIDHAR | REVOLUTION | PARTNER
Key Programs and Events
VC25 welcomed 1,000+ attendees, showcased 150+ companies, and a panel of successful Triangle Founders. New this year: A fireside chat between Peter Walker of Carta, and Bill Spruill of 2ndF. A podcast studio to capture meaningful conversations, and a dedicated Founder Lounge for teachers and learners to be in one room together, AMA style.
Venture Report Dinner
We hosted our 2nd annual dinner for a private, roundtable discussion (20 local investment leaders) on the activity happening in the Triangle ecosystem and beyond. Our Venture Report covers all fundraising activity state-wide.
We hosted 80+ funds in Q3 for a specialized LP session, company updates, and a Tech and Life Science Ecosystem tour—complete with good food and a few cracks at batting practice on the Durham Bulls field.
CONNECT TO CAPITAL SERVICE
Provided bespoke matching and investor insight reports to growthstage companies through-out the year.
Strengthening the Ecosystem Through Partners & Students
The Triangle’s innovation economy thrives because of the connections that fuel it—between partners, students, and the startups they support. CONNECT is CED’s answer to that challenge, offering structure and visibility to the regional support system.
Our Partners
CED works hand-in-hand with the Triangle’s valued resources including businesses, universities, nonprofits and government entities that have services and resources that founders need to accelerate business growth.
PARTNER ACTIVITY HIGHLIGHTS:
• Increased corporate support for 2 GRO Incubator cohorts via Wells Fargo sponsorship
• Expanded our Strength in Numbers program impact through impact investment from Hutchison PLLC & Four Light Ventures (4LV)
81
8 PARTNERS INVESTED VIA CED
• Provided out-of-region investors with an ecosystem tour of the Triangle Life Science and Tech communities thanks to Investor Fly-In sponsorship from EisnerAmper, Wyrick Robbins, Balentine, Live Oak, DualBoot PROGRAMS HOSTED BY PARTNERS
242
FOUNDER TO PARTNER INTRODUCTIONS
The mentor-driven experience of GRO Incubator delivers actionable, consistent, and close support while the program’s weekly sessions pull from the larger partner community to provide practical ideas and solutions on several different topics, all vitally important to their success.”
JULIE HAMPTON | WELLS FARGO | GRO INCUBATOR SPONSOR
Introducing Abha Bowers
We’re thrilled to have Abha leading our CONNECT team. She brings a wealth of knowledge across strategic marketing, leadership, and community building.
“The CED network has already proven to be so welcoming and supportive—I’m excited about our potential for growth and increasing our impact on the ecosystem.”
ABHA BOWERS | CED HEAD OF STRATEGIC PARTNERSHIPS
Strength in Numbers
This program continues to gain momentum, with highlights from 2025 being nearly 200 tickets sold to our Likeable Badass event with author Alison Fragale, and launching memberships. Strength in Numbers is where female-identifying members of the innovation ecosystem come together to connect, collaborate, and grow.
We believe that success is multiplied when we share knowledge, connections, and opportunities.
If you believe women will lead the next decade of growth in our region, this is your moment to step in and support making it happen.
Our Associates
CED partners with students shaping the next generation of talent. By combining university collaborations with community support, we offer hands-on experiences and development opportunities across North Carolina.
2025 Student Engagement
STUDENTS ENGAGED
STARTUP TNT ASSOCIATES 17
STUDENT VOLUNTEERS UNIVERSITY PARTNERS*
* Meredith, NC Central, Duke, Appalachian State, NC State, UNC Chapel Hill, and Campbell
The Startup TNT Program has been transformative for our students. The internship provides an excellent onramp into the world of applying what they’re learning in the classroom, and they form invaluable connections with the local startup ecosystem that will serve them throughout their careers. We are so grateful that CED offers this opportunity!”
ANNA JACOBS | DUKE INNOVATION AND ENTREPRENEURSHIP | PROGRAM MANAGER
Startup TNT Program
Hands-on Ecosystem Impact:
Associates played pivotal roles across CED’s major events this year—including Venture Connect, GRO Demo Day, Investor Fly-in, and Strength in Numbers: Likeable Badass—building their networks while taking on small leadership roles that supported the team’s overall execution.
Direct Startup Support:
With Ana Lucia (Fall) serving as our first GRO Extern, Startup TNT piloted a new model of placing a student directly with a startup participating in the Fall 2025 GRO Incubator. We plan to build on this pilot to strengthen the pipeline of vetted student talent supporting the Triangle entrepreneurship ecosystem.
Deepened Associate Roles:
Startup TNT piloted a yearlong track for a select group of specialized Associates—Marketing, Finance & Investor Relations, and GRO Incubator— while the rest of the cohort remained on our traditional one-semester timeline. This model has allowed returning Associates to build deeper context and sustain momentum, strengthening the impact they’re able to make at CED.
This program was funded by the CED Board of Directors through their Annual Campaign. CED is actively looking for additional capital to expand the program.
CED continues to strengthen partnerships with university career centers and experiential learning programs, working to increase student participation through programmatic pipelines, mentorship opportunities, and the growing Startup TNT Associate Program.
Spring 2025
Summer 2025
Fall 2025
Harrison Dixon
Ana Lucia Ochoa
Jacob Diebler
Rayna Patel
Katie McCormack
Kelvin Mccaffity Jr.
Anushay Atif
Rui Sun
Owen Dong
Nicholas Otelsberg
Casey Byrne
Satvik Chethan
Vonna Pollard
Ogechi Onyeukwu
Nikhil Methi
Sophie Ashley
Yug Sharma
INVEST Fueling the Next Chapter of Growth
CED is seeking partners to scale three proven programs that are already shaping the next generation of Triangle founders, operators, and leaders.
CED has always counted on the business community for support. As the Triangle ecosystem has matured, so has a new source: successful founders paying it forward. In 2026, approximately 50% of CED’s $2.5M budget comes from entrepreneurs who have made multi-year pledges to this work.
That’s the flywheel in action. But there’s more to do.
CED is seeking funding in three areas — proven programs ready to scale:
FOUNDERS IN RESIDENCE — EXPANDED
CED’s FIRs embody the Triangle flywheel: successful founders who now advise, teach, and champion the next generation.
Today, CED engages 4-6 FIRs on a fractional basis. They serve as trusted sounding boards on fundraising, go-to-market strategy, and team building — and support CED’s educational programs and CEO roundtables.
Demand far exceeds current capacity. Additional funding would expand both the number of FIRs and the depth of their engagement — moving from ad hoc advising toward structured office hours, roundtables, and targeted clinics.
ASK: $500K per year for three years
The Founder-In-Residence program is unlike any other resource in the Triangle ecosystem. It cuts through the red tape typically required to get in the same room with someone who could meaningfully shift your perspective—and CED consistently makes the right connections at the right time.”
JED CARLSON | ROUNDUP.ORG | FOUNDER & CEO
ASK:
$300K per year for three years
STARTUP TALENT IN TRAINING (TNT)
Startup TNT connects high-potential students with high-growth Triangle startups — building a pipeline of future operators who choose to build their careers here.
Today, CED hires 6-8 students per semester to work in a variety of CED programs. In 2025, CED piloted leveraging the Associates to do direct project work for our startup companies— for example, competitive analyses, pricing studies, AI experimentation, and UX reviews — with strong results from both founders and students.
Expanded funding would allow CED to run Startup TNT across three semesters annually and broaden the scope of projects available to founders.
03
STRENGTH IN NUMBERS
Strength in Numbers increases the success rate of female founders by expanding their access to networks, capital, and practical insight.
Launched in 2025 with a multi-year $100,000 gift, the program already has over 100 members and regularly draws 150-200 attendees to its events. It has outgrown its initial capacity.
A dedicated staff lead would deepen the curriculum, grow the mentorship network, and ensure the annual showcase consistently features an inspirational speaker to further inspire these women.
ASK:
$125K per year for three years
The Triangle has produced exceptional founders. Some of them now fund this work. If you’re in a position to do the same, we’d welcome that conversation.
The People Powering our Mission
Behind every connection made, program delivered, and startup supported, there’s a network of dedicated people who show up—consistently, selflessly, and with conviction.
Our Board of Directors, led by Co-Chairs Karl Rectanus and Scott Uknes, includes committed leaders from across the startup, investment, and corporate landscape. Our board members serve as ambassadors, advocates, and investors—guiding our long-term strategy while supporting our day-to-day impact.
Forty years ago, it was hard to imagine what this region could become as an entrepreneurial hub. A small group of us believed in the potential and worked collaboratively to lay the foundation. Today, the Triangle stands shoulder-toshoulder with its peer ecosystems and continues to rank among the best places to build a business. Nancy and I are proud of what’s been accomplished, energized by what’s ahead, and committed to helping shape the next chapter. We invite anyone who cares about this region’s future to join us in building what comes next.”
FRED HUTCHISON | HUTCHISON PLLC | FOUNDER CED CO-FOUNDER AND IMPACT INVESTOR
I welcome the chance to connect with each of you, share more about our direction, and explore how you can play an even greater role in this collective effort. I look forward to building the future of this ecosystem — together.”
ALEX BLOOM | CED CEO
Together, We Build What’s Next
Behind every founder story is a network of believers— those who see potential before it scales. In 2025, over 95 individuals, companies, and organizations invested in the future of the Triangle. Their support fuels our programs, powers connections, and strengthens the flywheel that drives innovation forward.
| $1M+
| $50,000+
WE’RE GRATEFUL FOR THEIR VISION—AND FOR THEIR COMMITMENT TO BUILDING SOMETHING BIGGER THAN THEMSELVES.
| $25,000+
$1M
Bill Spruill
$100K Fred and Nancy Hutchison $38K EisnerAmper
Regions Bank Foundation
Wyrick Robbins
Charles Gaddy 4LV
Hutchison PLLC
Sue and Scott Uknes
$50K Gray Family Foundation
Wells Fargo
EXECUTIVE | $10,000+
STRATEGIC | $5,000+
ALEX BLOOM
KARL RECTANUS & VICTORIA WHEELER
PREMIUM | $3,000+
Bagchi Law, PLLC
Bernard Robinson & Company
CLA
Cofounders Capital
CSC Leasing Company
Dean Dorton
PATRONS
Alex Gray
Annalise Perry
Anne English
Aprio, LLC
Barbara Coury
Christy Shaffer
Fox Rothschild LLP
Fulcrum Equity Partners
Function
Lavoie PLLC
Longfellow Real Estate Partners
Pinnacle Bank
| UP TO $2,500
Elizabeth Kelly
Galen Robertson
Greggory Bordes
Jay Bigelow
Kevin Mosely
Michael, Best & Friedrich
Polsinelli PC
RC Capital
RHA Wealth
SJF Ventures
CDD
Michael Crooke
Susan Wall
Susan Cook
Toni Bucci
Tim McLoughlin
Travis Milks
Every name in this report represents a decision to invest in our region’s talent, energy, and potential. If you believe in a future built by founders and powered by community, we invite you to join us.
Alex Bloom Chief Executive Officer abloom@cednc.org
Abha Bowers Head of Strategic Partnerships abowers@cednc.org
Jay Bigelow Head of Founder Engagement jbigelow@cednc.org
CED is a nonprofit organization that provides support to the entrepreneurial community by deploying its own resources and resources from the CED Network of Partners. Donations made directly to CED enable us to track entrepreneurial and investor activity, then report out to you on an annual basis. For information on how you can support the work of CED, please contact us: CEDNC.ORG