Insights

As a board member at CED and a dedicated advocate for entrepreneurial success, Joy Parr Drach has witnessed firsthand the impact of support organizations like CED on startup growth.

According to Joy, starting a company is inherently challenging, and “entrepreneurial support organizations like CED can mean the difference between success and failure.” CED excels at connecting young companies with the vital resources they need to grow. In particular, the Mentor Match program has made a significant impact, offering mentorship that allows entrepreneurs to gain fresh perspectives on their challenges.

Joy’s experience at Venture Connect serves as a testament to CED’s effectiveness. When she pitched at the event years ago, she was unaware that Labcorp had a venture fund. After stepping off the stage, the Head of Ventures for Labcorp introduced herself. Nine months later, Labcorp became an investor in Joy’s company. She credits Labcorp and Megann Vaughn Watters with providing not just funding but also invaluable support as her team expanded their work from livestock diagnostics to human healthcare applications.

Looking ahead, Joy envisions CED playing an even larger role in addressing the Triangle’s evolving needs. There are many promising companies poised to scale. CED has the potential to help these businesses achieve bigger exits, which can in turn attract more investment and attention to the region to help young startups overcome the challenge of access to capital.

Joy’s advice to entrepreneurs is simple when it comes to getting involved with CED: “Just do it.” The Triangle is full of talented individuals who are eager to share their time, expertise, and perspectives. By getting involved, introducing yourself, asking questions, shaking hands, and attending events like Venture Connect, you can tap into a wealth of resources that may shape the future of your business.

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