Commercialization, Innovation Research and Entrepreneur Success Rates Highlight Genesis Block 3 Year Eastern North Carolina Strategy
Girard Newkirk
Cofounder and CEO of Genesis Block, Speaker, Writer, Google For Startups Black Founders Exchange Alum
“Learning and innovation go hand in hand. The arrogance of success is to think that what you did yesterday will be sufficient for tomorrow.”
William Pollard
Advancing entrepreneurship and innovation within communities has been a cornerstone of Genesis Block’s vision since the launch of its first business incubator in January 2021. Central to this vision is the commitment to lowering barriers to entrepreneurial success and fostering inclusive networks that promote information sharing, knowledge spillover, and sustained business growth.
Through daily engagement with entrepreneurs and collaboration with policymakers and large organizations, Genesis Block has gained invaluable insights and practical experience. This unique position enables us to share analysis, best practices, and strategic guidance, serving as catalysts for the expansion of entrepreneurship and innovation across diverse communities.
Our research and program experiences have highlighted four major challenges impacting entrepreneurship and the innovation economy in eastern North Carolina. Addressing these challenges is critical to advancing economic empowerment and fostering meaningful progress in the region. While Genesis Block supports entrepreneurship at all levels, our five-year strategic focus includes these areas and why.
Developing Programs to Cut Operating Costs and Increase Labor Market Participation
Reducing barriers for entrepreneurs by providing resources and solutions that make business operations more cost-effective and accessible. Our aim is to develop programs with commercialization models that are beneficial to the entrepreneur by lowering their costs and connecting them to training programs that build a talented workforce.
Regionally Targeted Incubator and Accelerator Programs
Supporting businesses at the commercialization stage to strengthen regional supply chains and drive sustainable growth. We need more emphasis on existing businesses with proven records to strengthen their ventures for growth and expansion.
Establishing Inclusive Entrepreneur and Innovation Networks
Bridging rural and urban communities through inclusive networks that encourage collaboration, resource sharing, and innovation. Eastern North Carolina has one of the highest poverty rate in the state and needs to be connected to economic opportunities in entrepreneurship and the innovation economy.
Providing Research and Insights
Delivering actionable data and analysis to inform and enhance entrepreneurship and innovation initiatives. Micro businesses account for over 90% of the businesses in the United States and over 26 million direct jobs yet we lack sufficient data on the dynamics driving business creation and sustainability.
Through these priorities, Genesis Block is building a foundation for long-term entrepreneurial success and regional economic development in the Cape Fear region and eastern North Carolina.
What Genesis Block program supports entrepreneurs by lowering costs and helping with challenges in the labor market?
Block Eatz supports local food entrepreneurs with quality training programs, affordable food production space, partnerships with local workforce development programs and access to a robust business network to build their brand. Block Eatz launched in September 2023 as part of a collaboration with Cape Fear Community College to foster culinary talent, cultivate entrepreneurship and provide learning opportunities for students in the region. Here is the impact so far:
What is the strategy for Block Eatz expansion to increase impact?
In response to the growing waiting list and the increasing demand for licensed kitchen space to expand programming, Block Eatz is planning to develop a Food Innovation Campus in the Soda Pop District. This initiative aims to create a hub for culinary entrepreneurship, offering expanded resources, training, and facilities to support food-based businesses and drive innovation in the local food economy.
The 11,700-square-foot facility will house the Block Eatz Food Incubator and serve as a hub for testing new food products, operating a licensed shared-use kitchen commissary, and supporting local initiatives. These include programs focused on food security, sustainable local food systems, and food as medicine — enhancing community well-being while fostering culinary innovation and entrepreneurship.?
Block Eatz Expansion Impact
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How is Genesis Block supporting the challenges small businesses are facing with commercialization, implementing ideas and getting new customers?
Over the past four years, Genesis Block has engaged with hundreds of entrepreneurs and founders, building close relationships with business owners at various stages of their entrepreneurial journey. Through workshops, network surveys, and input from community financial partners, we have identified a troubling trend: high failure rates among business owners within the first three years of operation, even among those with access to capital.
In response, we have developed SmallBiz Spark — a program tailored for business owners and entrepreneurs who have established operations and are ready for growth. SmallBiz Spark provides targeted support to strengthen ventures, equipping them with the resources, skills, and strategies needed to scale and achieve long-term success.
The SmallBiz Spark ecosystem is designed to provide a holistic approach to supporting small businesses and entrepreneurs through a range of initiatives, including:
At the heart of this ecosystem is the SmallBiz Spark Quarterly Event, which is set to become a flagship regional economic development gathering. This event will provide critical insights into the small business and entrepreneurial landscape, offering comprehensive updates on what’s driving the local economy.
In partnership with Cape Fear Community College Small Business Center, The Coalition, and UNCW CIE , Genesis Block introduces SmallBiz Spark — a regional initiative that unites small businesses, innovators, entrepreneurs, and economic development stakeholders. This collaboration aims to strengthen the success rates of entrepreneurs within the business community while providing actionable information to fuel growth and innovation in the region.
SmallBiz Spark Ecosystem Impact
How can Genesis Block and its network help bridge the digital divide and connect entrepreneurship and innovation to eastern North Carolina?
Genesis Block envisions creating a network of innovation hubs across eastern North Carolina (applying a Hub an spoke model for engagement)in collaboration with ecosystem partners, research institutions, state agencies, and community stakeholders. Genesis Block Labz will serve as the laboratory for entrepreneur and innovation research and development. Anchored in Wilmington, North Carolina, this network aims to serve as a catalyst for regional growth by fostering entrepreneurship and driving innovation.
By leveraging insights from the Regional Small Business Innovation Project, these hubs will provide critical resources, support systems, and collaborative opportunities to empower entrepreneurs and innovators. This initiative is designed to fuel economic development, create sustainable businesses, and advance the entrepreneurial ecosystem in eastern North Carolina.
Genesis Block Labz Projected Impact
In the United States, there are over 28.9 million businesses operating without the benefit of comprehensive data to analyze the environment in which they conduct business. Recognizing this gap, Genesis Block, in collaboration with UNCW, the Swain Center, UNCW CIE, and the Coalition, is developing a Regional Small Business-Innovation Index.
This initiative addresses the lack of transparency in the “real economy,” often referred to as the Main Street economy or locally driven economics. Comprehensive datasets for factors such as enterprise creation, business sustainability, and failure trends are insufficient, limiting the ability to design effective policies, allocate appropriate resources, and perform meaningful gap analyses.
The Regional Small Business-Innovation Index will serve as a vital tool to provide insights into these areas, empowering stakeholders to drive practical policy changes, allocate resources effectively, and foster a more sustainable entrepreneurial ecosystem.
Regional Small Business Innovation Index Impact
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