UNC-Charlotte, pictured, is one of the seven universities in North Carolina where NCInnovation operates a hub. Photo: Ashley Mahoney/Axios
Bennet Waters, the CEO of the nonprofit NCInnovation, will step down next year, he said in a statement last week.
Why it matters: Waters' decision comes as the nonprofit, which hopes to support burgeoning research at North Carolina universities with grants, fights to keep its funding from the N.C. General Assembly.
What they're saying: "With goals met, results delivered, and NCInnovation in its strongest position to date, my family and I have decided now is the right time to consider my next chapter," Water said in the statement.
Between the lines: NCInnovation was given $500 million from the legislature in 2023, but just two years later, Republicans are questioning that decision and considering taking it back.
The board of the nonprofit, appointed by the General Assembly, has been beset with infighting since it was started. Board member and influential Republican donor Art Pope has been particularly vocal about his dislike of the nonprofit's financial management.
An internal investigation, which came after Pope's complaints, determined that the majority of his complaints were unsubstantiated or already addressed.
Zoom in: So far, NCInnovation has awarded $20 million in grants to 25 UNC System researchers attempting to commercialize their work.
