A New Chapter for North Carolina Startups: Scot Wingo and Robbie Allen on NC IDEA's #Ecosysteming Podcast

In this special replay, we unpack the statewide expansion of the Tweener Fund, the power of NC's startup ecosystem, and why this new model could unlock more capital for founders across the state.

This episode is a special one. We’re replaying NC IDEA’s Ecosysteming Podcast episode featuring Scot and Robbie following the announcement of the new North Carolina Tweener Fund powered by NC IDEA. (Check out the announcement.)

The conversation covers the “why” behind the partnership, how the Tweener model works, why statewide startup data matters, how founders can connect with the fund, and why this effort could attract even more outside capital into North Carolina. It’s part ecosystem strategy, part founder playbook, and part invitation to think bigger about what’s possible for startups across the state.

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North Carolina’s startup ecosystem has been building toward this moment for years, and this conversation makes one thing clear: the next chapter is going to be bigger, broader, and more connected than ever.

Highlights covered

• NC IDEA and the formerly Triangle-focused Tweener Fund have joined forces to create the North Carolina Tweener Fund, powered by NC IDEA. The partnership expands the Tweener model from the Triangle to all of North Carolina

• Robbie shares his own story of receiving an NC IDEA grant in 2009 and how that support helped launch his startup journey

• Scot explains the origin of the Tweener List and how it became the foundation for the fund’s index-style approach

• The fund is designed to invest in a basket of promising North Carolina startups, helping reduce risk through diversification

• The discussion reinforces the idea that North Carolina has a uniquely broad startup base across sectors like AI, healthtech, agtech, aviation, manufacturing, ecommerce, and more

• Thom Ruhe highlights how better startup data helps ecosystem builders, policymakers, and funders make smarter decisions

• Scot and Robbie explain how increased visibility and deal activity can help pull more outside capital into the state

• Founders are encouraged to reach out directly, the approach is intentionally founder-friendly and operator-led

• The episode also outlines how accredited investors can participate, including through AngelList and, in some cases, retirement vehicles like self-directed IRAs

How to watch:

Visit Tweener Talks to listen for all audio podcast players

We have a video version on YouTube (make sure to subscribe!)

NC Founders, we want you!

NC Tweener companies must meet the following criteria:

• Headquartered in North Carolina (Primary executive and operational presence must be in NC.)

• Technology company, including any of the following:

  • Software (SaaS, AI, platforms, enterprise, consumer, etc.)

  • Hardware

  • Tech-enabled services

  • Digitally native brands

  • E-commerce companies

• We do not include:

  • Industries requiring FDA approval

  • Pharmaceutical

  • Clinical/regulated medical products

  • Traditional services businesses (agencies, consulting firms, etc.)

• Tweener Scale Threshold (Must Meet ONE)

  • $1,000,000+ in annual revenue (ARR)

  • $80,000+ in monthly recurring revenue (MRR)

  • 10+ full-time employees

  • (In startup terms: $1M ARR or $80K MRR — or meaningful team scale.)

If you meet these criteria (or know someone who does), reach out to us directly at contact@tweenerfund.com - we’ll schedule a convo!

Investors/LPs, we want you too!

Do you want to join with our 200 lifetime Limited Partners (or LPs, what we call our investors in VC) in helping us support NC startups? We’re structured as a rolling fund, which means, unlike closed funds that only let investors in every 5-10 years, we are ‘always open’ for new LPs. Here’s the details:

• Must be an accredited investor - SEC rule, not ours

• 1yr commitment, $30,000 for the year or $7,500/Q

• 1% management fee, 20% carry and a small AngelList administrative fee

For more details - visit www.tweenerfund.com where you can see our pitch and hit the invest button to get started - we’d love to help you and you can come on the journey for the next $10m!

📌 What’s Next

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