In the 1950’s, North Carolina’s economy was ranked 49thout of 50 states and too dependent on tobacco, textiles, and furniture. Then a partnership was formed by Duke, UNC, and NC State to turn a pine forest that separated them into the Research Triangle that would leverage their ideas and talent.
Today, salaries in the Park are nearly 50% higher than state and national averages. The region has also lifted North Carolina’s economy notably through its acceleration of an $83B life sciences sector.
Hidden in the shadows of this great success are too many unskilled and underemployed Triangle neighbors who lack affordable housing and economic opportunity. Commonwealth Triangle is building impact investing deals to bring more economic opportunity to all Raleigh-Durham citizens.
Commonwealth is a city-based platform designed to accelerate the supply of high impact investing opportunities.
Through two techniques — a venture competition and an online marketplace — Commonwealth will create first-ever visibility into the quality deals that already exist and use its consulting services to make these businesses more market-ready.