Genesis Block Advancing Entrepreneurship and Innovation in the Eastern North Carolina
Genesis Block was founded in 2020 on the principle that the most productive path toward community prosperity and social reconciliation is directly connected to the advancement of entrepreneurship. That principle has manifested as a dynamic network of entrepreneurs, innovators, business leaders, and state agencies working in unison to foster community, collaboration, and creativity — collectively inspiring positive change in our community.
We are thankful to everyone supporting the advancement of entrepreneurship and we are excited to sneak a peek into 2025 with our latest projects and organizational strategy for the next few years. Our programs and impact targets will focus primarily in three targeted areas:
Gaps in Commercialization Support
Based on feedback from workshops, network surveys, and input from community financial partners, we have identified a growing trend of high failure rates among business owners within the first three years of operation, even for those with access to capital.
Interviews revealed that business owners who participated in prior business training, incubator programs, and cohort-oriented wraparound support demonstrated significantly higher success rates compared to those without such support.
In response, we are actively connecting with two projects focused on:
- Increasing the success rates of small business owners through targeted support and resources.
- Collecting and analyzing data to better understand the factors that influence business creation and long-term sustainability.
These efforts aim to provide actionable insights and build systems that empower entrepreneurs to thrive.
Inclusive Entrepreneurship and Innovation Access
The digital divide refers to the gap between individuals and communities with access to technology, the internet, and digital literacy training and those without. This issue transcends generations, affecting both rural and urban areas as well as a wide range of industries and sectors.
At Genesis Block, over 90% of the companies we serve are women-owned, and more than 85% are minority-owned. These groups are among the most affected by limited access to entrepreneurship and innovation resources.
To address this disparity, Genesis Block is building a network of partners to create entrepreneurship and innovation hubs across eastern North Carolina. These hubs aim to:
- Bridge the digital divide.
- Provide entrepreneur training and support programs in rural communities.
- Offer access to robust business and innovation networks.
Through these efforts, we are committed to empowering underserved communities with the tools and resources needed to thrive in today’s digital economy.
Lowering Entrepreneur Production and Operating Cost
The rising operating costs of business and obstacles to labor market participation are two of the most significant challenges facing entrepreneurs and business owners today. At Genesis Block, we are committed to reducing the barriers to entrepreneurship and addressing the high costs of doing business, which can often determine the difference between success and failure.
Our programs and business operations are designed to support entrepreneurs at critical commercialization stages, where cost efficiency is paramount. Our focus includes:
- Delivering high-quality experiential training programs.
- Reducing operational costs for businesses.
- Providing affordable opportunities for businesses to modernize their workforce
By addressing these challenges, Genesis Block is empowering entrepreneurs to overcome hurdles and achieve sustainable growth.
Here are the Genesis Block 2025 Projects and Impact Goals.
Block Eatz Food Innovation Center
This project entails expansion of the Block Eatz incubator to support a regional food innovation center. This food innovation center will support local food entrepreneurs, fosters innovation in the culinary arts and anchor local food systems in the region. The 11,700 facility will host Block Eatz food incubator, test new food products, operate a licensed shared use kitchen commissary and support initiatives related to food security, sustainable local food systems and food as medicine programs.
Impact Goals
- $6.5 million in client revenue
- $7.5 million in economic activity
- 11,700 food innovation center
- 60 Culinary Workforce Graduates
- 850 program and event attendees
Conversation to Contracts
Supplier diversity platform supporting diverse owned business growth, regional workforce training and community engagement. The quarterly event connects local diverse businesses to large organizations and anchor institutions.
Impact Goals
- $2.5 million in supplier diversity contracts
- 40 Minority businesses certified in Walk Thru events
- 200 Diverse owned businesses participating
- 1000 attendees
Regional Entrepreneur-Innovation Scorecard
To create a repository of data and actionable metrics focused on the innovation, entrepreneur and small business community in the Southeast region. This could include both publicly available data at the state, county, and census tract level, as well as surveys, and other non-public data that we could aggregate to paint a more precise picture of the on-the ground circumstances.
Impact Goals
- Cape Fear Region Small Business Innovation Scorecard
- Quarterly event reporting insights
- Platform informing business creation metrics
- Insights on factors influencing small business success and failure rates
SmallBiz Spark
Genesis Block In partnership with Cape Fear Community College, UNCW, UNCW CIE, Swain Center and the Greater Wilmington Business Journal introduce SmallBiz Spark. This regional event brings together small business, innovation, entrepreneurship, the business community and economic development stakeholders to connect and get comprehensive information on what is driving the local economy.
Impact Goals
- Cape Fear Regional Small Business Innovation Scorecard report
- Micro Biz Pilot
- SmallBiz Spark Business Incubator
- Retail Pop Up Shop Program
- Small Business Success (SBS) Best Practices
Genesis Block Labz
Establish an entrepreneurship and innovation research hub to serve as the gathering place for entrepreneurial activity, networking, incubators and training.
Impact Goals
- 75 graduates Block Academy
- Shared coworking space
- Business Incubators & Accelerators
- 2000 attendees for workshops and networking events
- Entrepreneurship and Innovation Research Center
For the latest developments at Genesis Block, follow us on these digital platforms.
Facebook: https://www.facebook.com/profile.php?id=61552904945539
Twitter: https://twitter.com/block_ilm
LinkedIn: https://www.linkedin.com/company/genesis-block-ilm
Instagram: https://www.instagram.com/genesisblockilm
Medium: https://genesisblkilm.medium.com/
Greater Wilmington Business Journal: https://www.wilmingtonbiz.com/insights/girardnewkirk/237
