Damp from pelting rain, Jim Roberts sauntered into Harris Teeter’s Port City Java, ordering his third cup of coffee for the day. He is already hard at work getting UNC Wilmington’s new Center for Innovation and Entrepreneurship facility open, and his stay in Wilmington has barely exceeded two weeks. 

 

The CIE acts much like a council for entrepreneurial development, said Roberts. Anyone who wants to develop a new company or product is welcome to the center to cultivate the resources needed to jumpstart their business. 

 

In addition to providing resources, the CIE also houses and fosters these new businesses in their early stages.

 

“We’re more of an accelerator than an incubator,” Roberts said. “The difference between an accelerator and an incubator is that an accelerator often includes investment funds.” 

 

The Seahawk Fund, a venture capital fund, will be used to aid in developing these new businesses.

 

“Say you have a 20 million dollar fund,” Roberts said. “That 20 million is committed to invest into the early stage companies. With the hope that company, five to seven years later, will expand and go public on the stock exchanges.” 

 

While the facility itself was only purchased in late December 2012, the Coastal Council is an entrepreneurial council that has existed for almost 10 years.  The council started in the Cameron School of Business. 

 

However, CIE isn’t limited to business students. The Information Technology and Marine Biotechnology schools will also benefit from the CIE due to UNCW’s marine biology concentration.

 

As director for the CIE, Roberts’ job focuses on growing new companies. This does not restrict it to employee growth, as he’s also tasked with helping companies flourish in a broader sense. Robert explained that new companies or entrepreneurial ideas need a home to grow.

 

“The idea behind the center is that there will be small offices for one or two person companies that can be their home,” Roberts said.

 

The facility will also feature a co-working space, so people can move between companies freely.  Similar to a “floating office,” Roberts said.

 

The purpose behind such an open design is to enable entrepreneurs to bounce ideas of each other. What prevents this type of creative sharing are walls.

 

“So why not have a center that doesn’t have any walls?” Roberts said.  

 

Additionally, the CIE holds its own rooms for events. This comes in handy for companies that need to host an event. Likewise, it prevents the need to rent any space.

 

“We need to invite all the other pieces into that center, so hopefully those companies graduate and find space on the coast,” Roberts said. “Once the small ideas become bigger, we want them to graduate out.”

 

Roberts hopes the CIE will transform Wilmington into a nexus of entrepreneurial activity-a hotspot for economy that will boost the Port City’s commerce beyond tourism. While companies may no longer need the CIE to sustain themselves, the plan is to keep them based in Wilmington. 

 

The Center for Innovation and Entrepreneurship facility’s public opening is scheduled around Labor Day.