Raleigh-Durham is the startup capital of the South: Google Tech Hub leads nation in funding, jobs, and minority-led businesses.

Author:Brown, Carolyn M.
Position:DID YOU KNOW?
 
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AMERICAN UNDERGROUND, A CAMPUS THAT HOUSES small businesses and accelerators throughout Durham and Raleigh, North Carolina, established a bold goal to build the most diverse startup hub in the country. Launched six years ago in the basement of an old tobacco warehouse at the American Tobacco Historic District, American Underground (americanunderground.com) has rapidly grown into the region's most robust entrepreneurial ecosystem, deemed by CNBC to be "the Startup Capital of the South." The startup hub reported a record year in 2015 in funding, jobs, and minority-led businesses, according to figures on diversity and funding.

According to American Underground, 29% of its businesses are led by women and 22.4% are minority led. Of the companies that raised money, 28.6% were women or minority led. Nationally, approximately only 1% of startup founders are black and 8% are female, according to CB Insights. Durham is 'hot.' In just two years, seven companies have exited to the tune of $1.5 billion.

American Underground is one of eight Google for Entrepreneurs tech hub partners around North America, established to help local startup communities thrive. American Underground's founding partners include Coastal Federation Credit Union, the Research Triangle Park Foundation, Durham Chamber of Commerce, Duke University, Fidelity Labs, NC IDEA, and Capitol Broadcasting...

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