Durham, a city with deep
entrepreneurial roots, has been garnering national attention for its
progressive and innovative nature for hundreds of years. Durham is home to
Research Triangle Park (RTP), the largest high-tech research and science park
in North America. In addition, Downtown Durham is home to over 60 startup companies employing more than 500 people.
The startup culture is hardly new.
Durham has always been a hotbed of entrepreneurialism - the Great American
Indian Trading Path ran through here; a route that was an early manifestation
of entrepreneurial activity. In the 1860s,
Washington Duke started what grew into the mega-giant American Tobacco Company from
pocket change. Businesses like Durham-based
Cree and Quintiles grew from a handful of employees 25 years ago to their
current status as multinational companies with thousands of employees.
More recently, in 2011, Durham was the
first stop on the US Small Business Administration’s national tour of
roundtable discussions called Startup America: Reducing Barriers. In other
words, entrepreneurism is an essential part of Durham’s DNA.
With the startup landscape flourishing
in Durham, the future looks brighter every day.
An influx of small business incubators and accelerators has drawn
entrepreneurs to Durham from around the world, all of whom have a dream and the
drive to succeed. Organizations like JoyStick Labs, LaunchBox Digital and Bull City Forward, to name a few.
Much of the success of these small
businesses can be traced to organizations and programs that help entrepreneurs
thrive. The Greater Durham Chamber of Commerce and Downtown Durham Inc. have hosted The Bull City Start-up Stampede,
a competitive initiative matching start-up companies with free office space and
technical assistance. CED, the regional council for entrepreneurial development located in Downtown Durham also provides
entrepreneurs with the necessary resources and tools to start and grow their
businesses.
Duke University recently launched a
major campus-wide initiative in innovation and entrepreneurship led by Kimberly
Jenkins. A Duke alumna, Jenkins’ resume
includes working with Microsoft’s Bill Gates back when it was a start-up company,
leading the marketing department for Steve Jobs at NeXT, as well as stints
advising companies such as Sun, Oracle and Cisco. This effort will help keep bright graduates
close by and further expand the societal impact of Duke innovations.
Turns out, Durham is also a great
place to be to work on stepping away from a business that has grown to great
success, too. Two of Durham’s
entrepreneurs, Jess Eberdt and Doug Townsend, did exactly this and maneuvered away
from the daily operations of their hugely successful business Parata Systems. They started Tempus Durham, a firm that helps
successful entrepreneurs do exactly as they have done, devise an exit strategy
from a successful business to have freedom to pursue other things.
Durham has myriad stories of dreams
that became ideas that became realities that grew into great successes. It’s really a city to be reckoned with when
it comes to starting a business, routinely being named in the same breath as
Silicon Valley.
Considering that more than 80% of
relocating executives visit a location first before deciding to move their
companies, the success of Durham as a visitor destination can only further encourage
the natural evolution and current momentum that made Durham such a highly
sought-after business climates in the U.S.
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