FUELING NORTH CAROLINA'S INNOVATION ENGINE: SBTDC INTERNSHIP PROGRAM LINKS PROFESSIONAL STUDENTS AND INNOVATION BUSINESSES.

Phaxtec, a firm founded in 2019 to develop sustainable coating materials lauded Lois Chen's contribution to the company's vision, financial planning, and strategy development. Chen was not an employee or consultant hired by the company, but rather a graduate student intern. Each summer, the North Carolina Small Business and Technology Development Center (SBTDC) offers the opportunity for graduate students from across the state to work closely with early-stage innovation-based companies. Chen joined an impressive list of over 200 SBTDC internship alums that have taken part in the program over the past 21 years and shared that the program provided "a rare opportunity for one to work directly with CEOs who have a clear vision for innovative technology."

The SBTDC is a business and technology extension program of the UNC System, administered by North Carolina State University and operated in partnership with the U.S. Small Business Administration. SBTDC's business counselors assist small and midsize businesses throughout North Carolina from 16 offices across the state, each affiliated with a college or university. The SBTDC's Technology Commercialization Program focuses on providing counseling and resources to small business owners, university researchers and entrepreneurs looking to advance their innovations to the marketplace.

Program Director John Ujvari explains that graduate interns can provide a deeper level of consultative engagement to companies that are nearing commercialization. "We work with hundreds of clients a year and hand-select companies that, with additional resources, can address business challenges more effectively and efficiently." These challenges often revolve around commercialization and fundraising.

Phaxtec, like many innovation-based firms, is seeking funding as they conduct the R&D needed to develop a revenue-generating product. The advanced materials and biotechnology company is seeking to commercialize sustainable materials through the development, production, and marketing of naturally occurring PolyHydroxyAlkanoate (PHA) biopolymers. Founded by Anindya Mukherjee, Phaxtec's proprietary technology will be utilized to meet the market demand for renewable, biodegradable, and compostable food packaging, fertilizer coatings and other products, reducing the negative environmental impacts of fossil plastics. With Small Business Innovation Research (SBIR) funding from the National Science Foundation and a One NC Small...