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Feb 3, 2025

We Are Now in the Entrepreneur Economy

Sponsored Content provided by Heather McWhorter - Director, UNCW Center for Innovation and Entrepreneurship

The modern economy is undergoing a seismic shift, driven by innovation, creativity, and the resilience of entrepreneurs. Across the country—and particularly here in Wilmington, NC, and the greater southeast North Carolina region—small businesses and startups are not just contributors but are the backbone of economic growth. We are living in what can only be described as the Entrepreneur Economy, where small businesses and visionary founders are shaping our future.
 
The Impact of Entrepreneurs
Small businesses make up 99.6% of all businesses in North Carolina, employing 1.8 million people—nearly half of the state’s workforce. Here in Wilmington, the entrepreneurial ecosystem thrives thanks to Wilmington Business Coalition resources like the UNCW Center for Innovation and Entrepreneurship (CIE). CIE offers mentorshipcoworking and collision spacesevents and programs, networking and connections, and more to entrepreneurs and aspiring business owners. Last year, CIE supported 285 entrepreneurs, including 30% female founders and 20% minority founders. These businesses represent a wide array of industries, from tech and healthcare to the innovative “Blue Economy,” which leverages our region’s love for the ocean and solving problems related to the waterways and living on the coast.
 
One compelling example of entrepreneurial impact is OpiAID, a Wilmington-based startup addressing the opioid crisis through data analytics. This company has secured $2.8 million in funding and exemplifies how local startups can tackle global challenges while creating jobs and driving economic growth. Another example is Predicate HPG, a Wilmington-based startup and 2024 Coastal Entrepreneur of the Year, that is using artificial intelligence (AI) to improve the detection of sepsis. 
 
Wilmington’s entrepreneurs are literally saving lives.
 
Why Wilmington?
Wilmington offers a quality of life and strategic advantages that attract entrepreneurs from across the nation. The city’s coastal beauty fosters creativity and resilience—qualities essential for successful entrepreneurship. Moreover, resources like CIE and events such as the Ocean Innovation Conference help build a pipeline of startups and talent, ensuring that the next generation of innovators is prepared to succeed.
 
Wilmington consistently ranks among the top in the nation and globally for our startup ecosystem for small cities. In January 2025, the Global Startup Ecosystem Index ranked Wilmington as 61st globally as compared to all cities, regardless of size. Wilmington climbed three spots globally, showing continued improvement in our Entrepreneur Economy. Wilmington also ranked 22nd in the United States, an increase of 10 spots since the prior year and our best ranking since 2020.
 
The “Blue Economy” innovations are a standout example. For example, Partners of Commercial Fishermanhas built a support network for, well, partners (loved ones) of commercial fisherman that could potentially be a rich resource of information about our oceans. Another example is Local Catch, which can connect you to fresh seafood while increasing sustainable fishing. These ventures align economic development with environmental stewardship, creating a unique value proposition for our region.
 
Why Small Businesses Matter
Small businesses and startups are job creators, innovators, and community builders. They account for 64% of net new jobs created annually in the U.S. Here in coastal North Carolina, they add diversity to the economy and can serve as a stabilizing force during economic downturns.
 
Paul Baron, a Wilmington entrepreneur and 2023’s Coastal Entrepreneur of the Year, demonstrates the ripple effect one person can create. His company, The Wall Printer, has sold 100 devices across North and South America, creating 100 new businesses in the process. Entrepreneurs like him are not just building their own ventures but empowering others to follow suit.
 
Thinking About Starting a Business?
If you’ve ever thought about starting your own business, now is the time. Wilmington is rich with resources to support budding entrepreneurs, from coworking spaces to mentorship programs. Starting a business might seem daunting, but every entrepreneur begins with a single step—a vision for change. The CIE is here to help with programs tailored to startups, including networking events, capital connections, and access to cutting-edge facilities.
 
One inspiring success story is CIE coworker Wisely Inc., founded by a first-time entrepreneur Rachelle McCray. Wisely has developed smart containers designed to reduce food waste, securing an EPA SBIR grant and ReFED Catalytic Grant. Stories like this show that with the right support, innovative ideas can flourish.
 
The Future is Entrepreneurial
As Wilmington continues to build its entrepreneurial ecosystem, the benefits ripple far beyond business success. Entrepreneurs solve pressing problems, create sustainable models, and drive community development. Their creativity fuels innovation, bringing new industries and opportunities to the region.
 
Wilmington and southeast NC are committed to fostering this growth, and the results speak for themselves: an inclusive, thriving economy built on the dreams and determination of its people. Whether you’re a student, a seasoned professional, or someone with a passion for innovation, now is your moment to contribute to the Entrepreneur Economy.
 
For those ready, we at the CIE are here to support you every step of the way. Let’s build the future together—one startup at a time.
 
Heather McWhorter, MS, PE, ECM is the director of the UNCW Center for Innovation and Entrepreneurship (CIE). CIE supports innovation-forward start-ups and helps to build a vibrant innovation economy for all in southeast NC. 
To learn more about CIE and our services, programs, and events, follow us on social media: InstagramFacebookLinkedInTikTok, or YouTube. CIE’s website is uncw.edu/cie
 

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