One of the most inspiring conversations I have had
recently on my Leaders and Legends podcast on Radio Nyra was with Krista
Covey, president and CEO of First Flight Venture Center. Our discussion
reinforced a belief I have shared in several previous WRAL TechWire opinion
pieces: North Carolina’s future will be built through innovation, entrepreneurship,
and the leaders who create an environment where groundbreaking ideas become
world-changing companies.
First Flight Venture Center has been doing exactly that
for more than three decades, established in 1991 as a spin out from the North
Carolina Department of Commerce. As one
of the nation’s premier science and technology incubators, it has helped launch
hundreds of companies, supported thousands of high-quality jobs, attracted
significant investment, and strengthened North Carolina’s position as one of
America’s leading innovation economies. Perhaps the most remarkable takeaway from my interview
with Krista Covey was this: 430 companies supported by First Flight Venture
Center have grown to a combined market value of $26 billion—a powerful example
of innovation driving economic opportunity.
As she always does, Krista summed up First Flight
Venture’s mission in four words:
High Impact. High Science.
Those words perfectly describe both First Flight’s legacy
and the future of the Research Triangle.
Innovation doesn’t happen in isolation. It happens when
visionary entrepreneurs, researchers, investors, universities, corporate
partners, and public leaders come together to build an ecosystem where great
ideas can thrive. First Flight has become one of the cornerstones of that
ecosystem.
One aspect of my conversation with Krista that
particularly stood out was First Flight Venture Center’s expanding global
vision. Krista recently traveled to India, where she participated in a major
AgTech conference and presented in Hyderabad’s Hitec City, one of
India’s premier technology and innovation districts. During her visit, she met
with entrepreneurs, innovators, investors, and business leaders interested in
expanding into the U.S. market while also traveling to New Delhi, Agra,
and Bengaluru. Her stop in Bengaluru was especially significant, as
North Carolina maintains an economic development office there that continues to
strengthen business relationships and attract investment between India and our
state.
One exciting opportunity emerging from these
conversations is positioning First Flight Venture Center as a “soft
landing” destination for Indian companies looking to establish operations,
build partnerships, commercialize technology, and invest in North Carolina.
That strategy is already showing promise and reflects the increasingly global
nature of our state’s innovation economy.
The Research Triangle has long benefited from
international talent, research collaboration, and foreign direct investment.
Strengthening partnerships with innovation hubs like Hyderabad and Bengaluru
creates new pathways for economic development, technology commercialization,
and high-paying jobs. As North Carolina continues building its reputation as a
global innovation leader, partnerships like these will attract new investment,
strengthen our entrepreneurial ecosystem, and deepen the economic relationship
between India and North Carolina.
Our state’s innovation story has never been stronger.
From biotechnology and life sciences to artificial intelligence, clean energy,
advanced manufacturing, AgTech, and health technology, North Carolina continues
to emerge as one of the country’s leading centers for innovation.
This success is no accident.
It is the result of decades of investment in research,
education, entrepreneurship, and organizations like First Flight Venture Center
that help entrepreneurs navigate the difficult journey from laboratory
discovery to commercial success.
As I have written previously in WRAL TechWire, North
Carolina’s long-term economic strength will come not only from recruiting major
employers but also from empowering homegrown entrepreneurs to build companies,
create jobs, and grow right here in our state.
In my May 2026 opinion column, North Carolina’s
Startup Rebellion Is Here—And the Force Is Strong, I argued that
“startups mean jobs—jobs, jobs, jobs,” emphasizing that
entrepreneurship is one of the strongest drivers of economic growth. I also
highlighted the more than 171,000 new businesses registered in North Carolina
in 2023, demonstrating the remarkable entrepreneurial momentum taking place
across our state.
More recently, in my June 2026 WRAL TechWire column, The
AI Revolution Must Include Main Street, I emphasized that small businesses
and startups create jobs, strengthen communities, and drive economic growth
while urging North Carolina to ensure that innovation benefits businesses of
every size—not just large corporations.
These ideas came alive during my conversation with Krista
Covey. First Flight Venture Center embodies this vision by helping
entrepreneurs transform bold ideas into successful companies that create
high-paying jobs, attract investment, and strengthen North Carolina’s economy.
Today, North Carolina is consistently ranked among
America’s best states for business, innovation, and technology. We have
world-class universities, exceptional research institutions, an outstanding
quality of life, and one of the nation’s fastest-growing technology workforces.
But maintaining that leadership requires continued
investment in innovation infrastructure.
Organizations like First Flight Venture Center provide
much more than office space. They offer mentorship, business development
support, investor connections, strategic guidance, and an entrepreneurial
community that dramatically increases the chances of success for early-stage
companies.
These organizations create the next generation of
employers.
Today’s startup becomes tomorrow’s major company.
Today’s entrepreneur becomes tomorrow’s industry leader.
Today’s scientific breakthrough becomes tomorrow’s
life-changing innovation.
As North Carolina continues to compete nationally and
globally for talent, investment, and opportunity, our innovation ecosystem will
be one of our greatest competitive advantages.
I have often said that Wake County and North Carolina has the
opportunity to become the Silicon Valley of the East—not by copying
California, but by building on our own unique strengths: our collaborative
spirit, our research universities, our entrepreneurial culture, and our ability
to bring together public, private, academic, and nonprofit partners around a
common vision.
That vision extends well beyond our borders. From Research
Triangle Park to Hyderabad’s Hitec City, Bengaluru, New Delhi, and innovation
centers across the globe, North Carolina’s future will be shaped not only
by the companies we grow at home, but also by the global partnerships we
cultivate. Those partnerships will generate investment, create jobs, accelerate
innovation, and further establish our state as a premier destination for
entrepreneurs from around the world.
That vision is already becoming reality.
First Flight Venture Center is helping lead the way.
I want to thank Krista Covey and the entire First Flight
team for their outstanding leadership and unwavering commitment to growing
North Carolina’s innovation economy. I am also excited about the continued
expansion of the First Flight campus, which will further strengthen our
region’s ability to support entrepreneurs, attract investment, commercialize
groundbreaking research, and create the high-paying jobs that will define our
future.
High Impact.
High Science.
A brighter future for North Carolina.
If you share this vision for North Carolina’s innovation
future, I encourage you to join us at the First Flight Venture Center High
Flyer Awards Luncheon at Prestonwood Country Club in Cary. The event
celebrates the entrepreneurs, researchers, investors, mentors, and partners
whose work is shaping the next generation of breakthrough companies. It is a
wonderful opportunity to recognize the extraordinary impact First Flight
Venture Center has had on our state and to celebrate the people and ideas that
will define North Carolina’s next chapter of innovation.
About the author
Steve S. Rao is a
former mayor pro tem and council member for the Town of Morrisville and a regular contributor to WRAL TechWire.