{"id":837,"date":"2024-07-01T14:34:18","date_gmt":"2024-07-01T14:34:18","guid":{"rendered":"https:\/\/sites.ncleg.gov\/houseoversight\/?p=837"},"modified":"2024-07-01T14:34:21","modified_gmt":"2024-07-01T14:34:21","slug":"ncinnovation-to-report-on-spending-first-round-of-grants","status":"publish","type":"post","link":"https:\/\/sites.ncleg.gov\/houseoversight\/2024\/07\/ncinnovation-to-report-on-spending-first-round-of-grants\/","title":{"rendered":"NCInnovation to Report on Spending, First Round of Grants"},"content":{"rendered":"<figure class=\"wp-block-post-featured-image\"><img loading=\"lazy\" decoding=\"async\" width=\"940\" height=\"428\" src=\"https:\/\/sites.ncleg.gov\/houseoversight\/wp-content\/uploads\/sites\/15\/2024\/07\/Hearing-use-this-one-copped.jpg\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" style=\"object-fit:cover;\" \/><\/figure>\n\n<div class=\"wp-block-post-date\"><time datetime=\"2024-07-01T14:34:18+00:00\">July 1, 2024<\/time><\/div>\n\n\n<p>The House Oversight and Reform Select Committee has called NCInnovation (NCI) CEO Bennet Waters to testify before the committee Tuesday, July 9, at 9 a.m. in the Legislative Building\u2019s Blue Ridge Auditorium.<\/p>\n\n\n\n<p>NCI is a public-private partnership intended to speed commercialization of university research. After proposals to fund NCI from the earnings of a $1.425 billion endowment, the final 2023 budget bill (HB 259, SL 2023-134) included two appropriations to the endowment of $250 million each.<\/p>\n\n\n\n<p>\u201cThe General Assembly made a big bet on NCInnovation. If it succeeds in bringing university research to market, the state will reap significant returns,\u201d said co-chair Rep. Harry Warren (R-Rowan). \u201cNCI leadership has not publicly addressed its funding assumptions or its operations. This hearing can be a step to increase our comfort with putting so much faith in one organization\u2019s ability to pick winning technologies.\u201d<\/p>\n\n\n\n<p>Committee members have questions on NCI\u2019s legislative reporting, receipt and use of state funds, its operations and grantmaking, its funding assumptions, and its long-term plans.<\/p>\n\n\n\n<p>Co-chair Rep. Jake Johnson (R-Polk) noted, \u201cNCInnovation intentionally chose two projects from each region, which does raise concerns of how much it is making decisions on merit and how much on political considerations.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The House Oversight and Reform Select Committee has called NCInnovation (NCI) CEO Bennet Waters to testify before the committee Tuesday, July 9, at 9 a.m. in the Legislative Building\u2019s Blue Ridge Auditorium. NCI is a public-private partnership intended to speed commercialization of university research. After proposals to fund NCI from the earnings of a $1.425 [&hellip;]<\/p>\n","protected":false},"author":59,"featured_media":838,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_FSMCFIC_featured_image_caption":"","_FSMCFIC_featured_image_nocaption":"","_FSMCFIC_featured_image_hide":"","footnotes":""},"categories":[1],"tags":[22,20,19,21,56,18,32],"class_list":["post-837","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uncategorized","tag-general-assembly","tag-house","tag-johnson","tag-legislature","tag-ncinnovation","tag-oversight","tag-warren"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.2 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\r\n<title>NCInnovation to Report on Spending, First Round of Grants - House Oversight and Reform Committee<\/title>\r\n<meta name=\"description\" content=\"The House Oversight and Reform Select Committee has called NCInnovation (NCI) CEO Bennet Waters to testify before the committee.\" \/>\r\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\r\n<link rel=\"canonical\" href=\"https:\/\/sites.ncleg.gov\/houseoversight\/2024\/07\/ncinnovation-to-report-on-spending-first-round-of-grants\/\" \/>\r\n<meta property=\"og:locale\" content=\"en_US\" \/>\r\n<meta property=\"og:type\" content=\"article\" \/>\r\n<meta property=\"og:title\" content=\"NCInnovation to Report on Spending, First Round of Grants - 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