{"id":515709,"date":"2026-05-04T16:31:57","date_gmt":"2026-05-04T20:31:57","guid":{"rendered":"https:\/\/poole.ncsu.edu\/magazine\/?p=515709"},"modified":"2026-05-04T16:57:49","modified_gmt":"2026-05-04T20:57:49","slug":"from-launch-to-legacy","status":"publish","type":"post","link":"https:\/\/poole.ncsu.edu\/magazine\/from-launch-to-legacy\/","title":{"rendered":"From Launch to Legacy"},"content":{"rendered":"\n\n\n\n\n<p class=\"is-style-lead\"><strong>When Robert &#8220;Chip&#8221; F. Andrews III and his wife Lyn first committed $1 million to NC State<\/strong> in 2016, the goal was straightforward: give talented students with big ideas the resources to actually build something.<\/p>\n\n\n<aside class=\"left-aside wp-block-ncst-aside-widget\">\n    \n<div class=\"has-custombg-two-text-color ncst-fact wp-block-ncst-aside-fact\">\n      <span class=\"ncst-icon\">\n            <svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M3.34541 10.8478H1.0415V11.7117H3.34541V10.8478Z\" fill=\"currentColor\" \/><path d=\"M22.9585 10.8478H20.7024V11.7117H22.9585V10.8478Z\" fill=\"currentColor\" \/><path d=\"M14.0061 19.3922H13.5599V18.0338H12.1344V19.7231H11.6877V18.0338H10.2669V19.3922H9.82066V18.0338H8.48145V19.9922L9.86379 20.6592V21.24H14.0497V20.6592L15.4321 19.9922V18.0338H14.0061V19.3922Z\" fill=\"currentColor\" \/><path d=\"M9.86401 23.333H10.6656L11.064 24H12.85L13.2479 23.333H14.05V22.7522H9.86401V23.333Z\" fill=\"currentColor\" \/><path d=\"M14.0495 21.6862H9.86401V22.3102H14.0495V21.6862Z\" fill=\"currentColor\" \/><path d=\"M12.0239 4.22859C10.6225 4.22552 9.25662 4.66994 8.12531 5.49713C6.99399 6.32432 6.1563 7.49108 5.73424 8.82748C5.31217 10.1639 5.32777 11.6001 5.77876 12.927C6.22975 14.254 7.09258 15.4023 8.24159 16.2047H8.21768L8.48159 17.5781H15.4322L15.8306 16.2052C16.6962 15.5984 17.4032 14.7924 17.8918 13.8551C18.3805 12.9178 18.6366 11.8767 18.6385 10.8197C18.6172 9.07418 17.9127 7.40651 16.6762 6.17435C15.4397 4.94219 13.7695 4.24367 12.0239 4.22859Z\" fill=\"currentColor\" \/><path d=\"M19.6524 2.61715L18.0139 4.23685L18.6213 4.85123L20.2597 3.23153L19.6524 2.61715Z\" fill=\"currentColor\" \/><path d=\"M12.5277 0H11.6638V2.30391H12.5277V0Z\" fill=\"currentColor\" \/><path d=\"M4.35442 2.61456L3.74707 3.22894L5.38553 4.84864L5.99288 4.23426L4.35442 2.61456Z\" fill=\"currentColor\" \/><\/svg>\n\n    <\/span>\n              <h2 class=\"fact__heading\"><strong>The goal was straightforward: give talented students with big ideas the resources to actually build something.<\/strong><\/h2>\n            <\/div>\n\n\n  <\/aside>\n\n\n\n<p>As the <a href=\"https:\/\/entrepreneurship.ncsu.edu\/andrews-launch-accelerator\/\">Andrews Launch Accelerator (ALA)<\/a> marks its 10th anniversary, the couple is doubling down, announcing a new $1 million gift on Day of Giving to establish an endowment that will fund the program in perpetuity.<\/p>\n\n\n\n<p>For Chip Andrews, who earned his B.A. in economics from NC State in 1966, the decision to give again wasn&#8217;t complicated. The numbers made the case on their own.<\/p>\n\n\n\n<p>Since 2016, the ALA has worked with 49 companies and more than 250 people, distributing $476,500 in equity-free seed capital to participating teams. Those teams then attracted more than $44 million in outside investment.<\/p>\n\n\n\n<p>\u201cOur funding has helped, but they are proving themselves in the marketplace,\u201d Andrews says. \u201cThat&#8217;s what this was always about.\u201d<\/p>\n\n\n<aside class=\"right-aside wp-block-ncst-aside-widget\">\n    \n<blockquote class=\"has-custombg-seven-text-color wp-block-ncst-pullquote\">\n  <div class=\"pullquote-container\">\n    <p class=\"pullquote-content\">\u201cOur funding has helped, but they are proving themselves in the marketplace. That&#8217;s what this was always about.\u201d<\/p>\n  <\/div>\n<\/blockquote>\n\n\n  <\/aside>\n\n\n\n<p>The program carries a 65 percent company survival rate, a figure Andrews notes with satisfaction.<\/p>\n\n\n\n<p>\u201cYou have an idea or a concept, and 65 percent of them are making something happen,\u201d he says. \u201cThat&#8217;s meaningful.\u201d<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">From Operating Grant to Endowment<\/h2>\n\n\n\n<p>The Andrews\u2019 original gift served as an operating grant, and it has been supplemented over time by contributions from other donors. With significant funds still remaining and years of distributions ahead, Andrews said he and Lyn wanted to take it one step further with this new gift.<\/p>\n\n\n<aside class=\"left-aside wp-block-ncst-aside-widget\">\n    \n<blockquote class=\"has-custombg-seven-text-color wp-block-ncst-pullquote\">\n  <div class=\"pullquote-container\">\n    <p class=\"pullquote-content\">\u201cWe wanted to create an endowment. That will create earnings on its own to provide for future annual funding for the Andrews Launch Accelerator.\u201d<\/p>\n  <\/div>\n<\/blockquote>\n\n\n  <\/aside>\n\n\n\n<p>\u201cWe wanted to create an endowment,\u201d he says. \u201cThat will create earnings on its own to provide for future annual funding for the Andrews Launch Accelerator.\u201d<\/p>\n\n\n\n<p>Andrews is quick to note that the accelerator&#8217;s success has never been solely about his family&#8217;s investment.<\/p>\n\n\n\n<p>\u201cIt&#8217;s not just about what Lyn and I are doing,\u201d he says. \u201cPoole provides extensive support. Haley Huie, the director of the <a href=\"https:\/\/entrepreneurshipclinic.ncsu.edu\/\">Entrepreneurship Clinic<\/a>, and Josh Guter, the program manager, have both been exceptional stewards for the ALA. Without their support, it really couldn&#8217;t work.\u201d<\/p>\n\n\n\n<p>He also singled out the Wilson College of Textiles as a particularly active partner, reflecting the university-wide reach the program has developed.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">The Making of a Mentor<\/h2>\n\n\n\n<p>Chip Andrews takes a hands-on approach to the ALA, and brings decades of expertise to the table. After graduating from NC State, he joined FMI Corporation, a management consulting and investment banking firm serving the international engineering and construction industries, where he became chairman and CEO before retiring in 2014. Today he serves as managing partner of Andrews Ventures LLC, which oversees family investments in startups, real estate and other business opportunities.&nbsp;<\/p>\n\n\n<aside class=\"right-aside wp-block-ncst-aside-widget\">\n    \n<blockquote class=\"has-custombg-seven-text-color wp-block-ncst-pullquote\">\n  <div class=\"pullquote-container\">\n    <p class=\"pullquote-content\">\u201cAs a consultant, you&#8217;re not just giving guidance and advice, customers are also telling you what they&#8217;re doing in operations and strategy. You&#8217;re teaching but also learning from them.&#8221;<\/p>\n  <\/div>\n<\/blockquote>\n\n\n  <\/aside>\n\n\n\n<p>He has remained heavily involved at NC State as well, in roles from serving on the Graduate School Advisory Board to Poole\u2019s Advisory Board, and including two terms on the NC State University Board of Trustees. He currently serves on the Board of Trustees for the NC State Endowment Fund.&nbsp;<\/p>\n\n\n\n<p>Working with hundreds of companies over his long career gives Andrews a unique vantage point.<\/p>\n\n\n\n<p>\u201cAs a consultant, you&#8217;re not just giving guidance and advice, customers are also telling you what they&#8217;re doing in operations and strategy,\u201d he says. \u201cYou&#8217;re teaching but also learning from them.&#8221;<\/p>\n\n\n\n<p>\u201cI&#8217;ve seen lots of successful companies in my career and want to help others find a successful path along the way.\u201d<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">The ALA: 10 Years In<\/h2>\n\n\n\n<p>A decade in, the ALA is as much about learning and mentorship as it is about the entrepreneurial journey. Students learn in a cohort setting, they work through business development milestones, and they dive deep into understanding the customers they\u2019ll serve. Becoming storytellers is also at the heart of the program, Andrews says.<\/p>\n\n\n\n<p>\u201cWhen people come to the accelerator, they&#8217;re asked to describe their opportunity,\u201d he says. \u201cSometimes they don&#8217;t know how to tell a story.<\/p>\n\n\n\n<p>\u201cWe work a lot on that \u2014 you have to be able to get people excited about what you&#8217;re doing.\u201d<\/p>\n\n\n<aside class=\"right-aside wp-block-ncst-aside-widget\">\n    \n<a \n    class=\"has-custombg-two-text-color ncst-fact wp-block-ncst-aside-fact\"\n    href=\"https:\/\/poole.ncsu.edu\/magazine\/brewing-change\/\"\n          >\n      <span class=\"ncst-icon\">\n            <svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M23.7796 16.8384H0.220215C0.220215 18.5213 1.48209 19.3622 2.74443 19.3622H21.6763C22.9382 19.3622 23.7796 18.1003 23.7796 16.8384Z\" fill=\"currentColor\" \/><path d=\"M19.5727 4.63782H5.2688V13.8928C5.2688 15.1552 6.53067 15.9966 7.37208 15.9966H16.628C17.8899 15.9966 18.7313 15.1552 18.7313 13.8928V13.0514C21.6765 13.0514 23.3593 10.9481 23.3593 8.84485C23.3593 6.32016 21.6765 4.63782 19.5727 4.63782ZM18.7313 11.3691V6.32016H19.5727C21.2555 6.32016 21.6765 8.00344 21.6765 8.84485C21.6765 10.1067 20.8351 11.3691 18.7313 11.3691Z\" fill=\"currentColor\" \/><\/svg>\n\n    <\/span>\n              <h2 class=\"fact__heading\">321 Coffee, founded by NC State students Lindsay Wrege and Michael Evans began working with the ALA in 2020.<\/h2>\n              <p class=\"fact__cta\">\n      <span class=\"text\">Check out 321 Coffee<\/span><span class=\"arrow-indicator\"><svg class=\"wolficon wolficon-arrow-right-bold\" role=\"img\"  aria-hidden=\"true\">\n\t\t\t\n\t\t\t<use xlink:href=\"#wolficon-arrow-right-bold\">\n\t\t<\/svg><\/span>\n    <\/p>\n    <\/a>\n\n\n  <\/aside>\n\n\n\n<p>The program moves participants through customer orientation, pushing them well beyond the handful of conversations most founders think constitutes market research to have hundreds of customer conversations. They move then into product development, legal and accounting fundamentals, go-to-market strategy, and fundraising and investor readiness.<\/p>\n\n\n\n<p>Andrews can rattle off success stories in a way that\u2019s clear he is someone who has watched them unfold up close.<\/p>\n\n\n\n<p>CN Seamless, a hardware startup built around portable fabrication machines, began as a senior design project before its founders recognized they had a real business on their hands. They&#8217;ve since scaled internationally. An introduction through the ALA connected them with an investor who became a lasting advisor.<\/p>\n\n\n\n<p>\u201cThey said hearing from different experts in sales, product development, and business gave them entirely new perspectives,\u201d Andrews recalls.<\/p>\n\n\n<aside class=\"left-aside wp-block-ncst-aside-widget\">\n    \n<div class=\"has-custombg-two-text-color ncst-fact wp-block-ncst-aside-fact\">\n      <span class=\"ncst-icon\">\n            <svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M12 0.587814L14.8406 9.3061H24L16.5553 14.6939L19.3959 23.4122L12 18.0244L4.60406 23.4122L7.44469 14.6939L0 9.3061H9.15937L12 0.587814Z\" fill=\"currentColor\" \/><\/svg>\n\n    <\/span>\n              <h2 class=\"fact__heading\">Casalu, a rum-based hard seltzer brand celebrating Latino culture, was founded by Gabriel Gonz\u00e1lez, a previous ALA administrator before deciding to become an entrepreneur himself.<\/h2>\n            <\/div>\n\n\n  <\/aside>\n\n\n\n<p>321 Coffee, founded by NC State students Lindsay Wrege and Michael Evans began working with the ALA in 2020. The company, a coffee shop and roaster that employs adults with disabilities, now has more than 50 employees and corporate partnerships with companies like Whole Foods.<\/p>\n\n\n\n<p>Another startup focused on South Asian fashion \u2014 formal wear for weddings and celebrations that American customers couldn&#8217;t find domestically \u2014 was forced to completely reinvent itself when COVID eliminated many of those events for a while, Andrews says. Understanding how to pivot is another vital step in the process, he notes.<\/p>\n\n\n\n<p>And Casalu, a rum-based hard seltzer brand celebrating Latino culture, was founded by Gabriel Gonz\u00e1lez, who had previously worked as an ALA administrator before deciding to become an entrepreneur himself.<\/p>\n\n\n\n<p>\u201cGabe is building a successful enterprise, one learning step at a time,\u201d Andrews says.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">The Andrews\u2019 \u201cWhy\u201d<\/h2>\n\n\n\n<p>The Andrews\u2019 decision to give this latest gift is about their long-time support for NC State, and about Chip Andrews\u2019 passion for entrepreneurship following a career spent watching ideas sprout into businesses that then learned to grow.<\/p>\n\n\n\n<p>He also recognizes the value of the ALA is about lessons learned and carried forward. Some of these entrepreneurs may end up in other industries where they\u2019ll bring valuable experience and knowledge.<\/p>\n\n\n<aside class=\"left-aside wp-block-ncst-aside-widget\">\n    \n<blockquote class=\"has-custombg-seven-text-color wp-block-ncst-pullquote\">\n  <div class=\"pullquote-container\">\n    <p class=\"pullquote-content\">\u201cYou don&#8217;t have to know what you want to do, just be there, understand what their challenges are, and find where you can help.&#8221;<\/p>\n  <\/div>\n<\/blockquote>\n\n\n  <\/aside>\n\n\n\n<p>\u201cThese participants learn a lot about turning an idea into profitable revenue,\u201d he says. \u201cThat&#8217;s what hiring companies are looking for \u2014 people who go through the ALA are much more valuable candidates for jobs they may pursue.\u201d<\/p>\n\n\n\n<p>To other alumni considering their own involvement, financial or otherwise, Andrews offers simple advice: show up.<\/p>\n\n\n\n<p>\u201cGet involved, learn from your peers, interact with the dean or the chancellor or professors,\u201d he says \u201cYou don&#8217;t have to know what you want to do, just be there, understand what their challenges are, and find where you can help.&#8221; &nbsp;<\/p>\n\n\n<div class=\"ncst-magazine-preview  wp-block-ncst-magazine-preview has-custombg-four-background-color\">\n    <h2 class=\"magazine-preview__heading\">More from Poole Business: Spring 2026<\/h2>\n          <p class=\"magazine-preview__teaser\">At Poole College, we create impact by preparing students for meaningful careers, generating knowledge that informs practice, and engaging with organizations and communities in ways that make a difference.<\/p>\n    \n    <div class=\"magazine-preview__stories-container\">\n      <a\n    class=\"ncst-content-card \"\n    href=\"https:\/\/poole.ncsu.edu\/magazine\/brewing-change\/\"\n  >\n  \n          <div class=\"content-card__image-container\">\n        <div class=\"content-card__image-background\">\n          <img decoding=\"async\"\n            class=\"content-card__image wp-image-&lt;img width=&quot;2560&quot; height=&quot;905&quot; src=&quot;https:\/\/poole.ncsu.edu\/magazine\/wp-content\/uploads\/sites\/425\/2026\/04\/321-alumni-banner-500x530-1-scaled.jpg&quot; class=&quot;attachment-post-thumbnail size-post-thumbnail wp-post-image&quot; alt=&quot;Two female and one male barista in cafe&quot; srcset=&quot;https:\/\/poole.ncsu.edu\/magazine\/wp-content\/uploads\/sites\/425\/2026\/04\/321-alumni-banner-500x530-1-scaled.jpg 2560w, https:\/\/poole.ncsu.edu\/magazine\/wp-content\/uploads\/sites\/425\/2026\/04\/321-alumni-banner-500x530-1-300x106.jpg 300w, https:\/\/poole.ncsu.edu\/magazine\/wp-content\/uploads\/sites\/425\/2026\/04\/321-alumni-banner-500x530-1-1024x362.jpg 1024w, https:\/\/poole.ncsu.edu\/magazine\/wp-content\/uploads\/sites\/425\/2026\/04\/321-alumni-banner-500x530-1-768x271.jpg 768w, https:\/\/poole.ncsu.edu\/magazine\/wp-content\/uploads\/sites\/425\/2026\/04\/321-alumni-banner-500x530-1-1536x543.jpg 1536w, https:\/\/poole.ncsu.edu\/magazine\/wp-content\/uploads\/sites\/425\/2026\/04\/321-alumni-banner-500x530-1-2048x724.jpg 2048w&quot; sizes=&quot;(max-width: 1500px) 100vw, 1500px&quot; \/&gt;\"\n            alt=\"\"\n            src=\"https:\/\/poole.ncsu.edu\/magazine\/wp-content\/uploads\/sites\/425\/2026\/04\/321-alumni-banner-500x530-1-scaled.jpg\"\n            style=\"aspect-ratio: 16\/9; object-fit: cover; \"\n          \/>\n        <\/div>\n      <\/div>\n    \n    <div class=\"content-card__text-container\">\n      \n                        <h3 class=\"content-card__headline\">Brewing Change<\/h3>\n              \n\n              \n\t      \t        <p class=\"content-card__teaser\"><span class=\"text\">Poole alumna Lindsay Wrege, co-founder of 321 Coffee, is redefining inclusion through meaningful employment.<\/span><span class=\"arrow-indicator\"><svg class=\"wolficon wolficon-arrow-right-light\" role=\"img\"  aria-hidden=\"true\">\n\t\t\t\n\t\t\t<use xlink:href=\"#wolficon-arrow-right-light\">\n\t\t<\/svg><\/span><\/p>\n\t      \t    \n          <\/div>\n\n  <\/a>\n<a\n    class=\"ncst-content-card \"\n    href=\"https:\/\/poole.ncsu.edu\/magazine\/poole-pack-profile-meet-doug-rowe\/\"\n  >\n  \n          <div class=\"content-card__image-container\">\n        <div class=\"content-card__image-background\">\n          <img decoding=\"async\"\n            class=\"content-card__image wp-image-&lt;img width=&quot;1500&quot; height=&quot;844&quot; src=&quot;https:\/\/poole.ncsu.edu\/magazine\/wp-content\/uploads\/sites\/425\/2026\/04\/Doug-Rowe-headshot-2-1500x844-2.jpg&quot; class=&quot;attachment-post-thumbnail size-post-thumbnail wp-post-image&quot; alt=&quot;Portrait of Doug Rowe&quot; srcset=&quot;https:\/\/poole.ncsu.edu\/magazine\/wp-content\/uploads\/sites\/425\/2026\/04\/Doug-Rowe-headshot-2-1500x844-2.jpg 1500w, https:\/\/poole.ncsu.edu\/magazine\/wp-content\/uploads\/sites\/425\/2026\/04\/Doug-Rowe-headshot-2-1500x844-2-300x169.jpg 300w, https:\/\/poole.ncsu.edu\/magazine\/wp-content\/uploads\/sites\/425\/2026\/04\/Doug-Rowe-headshot-2-1500x844-2-1024x576.jpg 1024w, https:\/\/poole.ncsu.edu\/magazine\/wp-content\/uploads\/sites\/425\/2026\/04\/Doug-Rowe-headshot-2-1500x844-2-768x432.jpg 768w&quot; sizes=&quot;(max-width: 1500px) 100vw, 1500px&quot; \/&gt;\"\n            alt=\"\"\n            src=\"https:\/\/poole.ncsu.edu\/magazine\/wp-content\/uploads\/sites\/425\/2026\/04\/Doug-Rowe-headshot-2-1500x844-2.jpg\"\n            style=\"aspect-ratio: 16\/9; object-fit: cover; \"\n          \/>\n        <\/div>\n      <\/div>\n    \n    <div class=\"content-card__text-container\">\n      \n                        <h3 class=\"content-card__headline\">Poole Pack Profile: Meet Doug Rowe<\/h3>\n              \n\n              \n\t      \t        <p class=\"content-card__teaser\"><span class=\"text\">The college&#8217;s human resources consultant strives to meet employees where they want to be met.<\/span><span class=\"arrow-indicator\"><svg class=\"wolficon wolficon-arrow-right-light\" role=\"img\"  aria-hidden=\"true\">\n\t\t\t\n\t\t\t<use xlink:href=\"#wolficon-arrow-right-light\">\n\t\t<\/svg><\/span><\/p>\n\t      \t    \n          <\/div>\n\n  <\/a>\n<a\n    class=\"ncst-content-card \"\n    href=\"https:\/\/poole.ncsu.edu\/magazine\/from-classroom-to-boardroom-jenkins-mba-students-help-shape-a-companys-ai-future\/\"\n  >\n  \n          <div class=\"content-card__image-container\">\n        <div class=\"content-card__image-background\">\n          <img decoding=\"async\"\n            class=\"content-card__image wp-image-&lt;img width=&quot;1500&quot; height=&quot;844&quot; src=&quot;https:\/\/poole.ncsu.edu\/magazine\/wp-content\/uploads\/sites\/425\/2026\/05\/AI-roadmap-graphic.jpg&quot; class=&quot;attachment-post-thumbnail size-post-thumbnail wp-post-image&quot; alt=&quot;graphic depiction of roadmap with stages of innovation icons and a human finger pointing at the map&quot; srcset=&quot;https:\/\/poole.ncsu.edu\/magazine\/wp-content\/uploads\/sites\/425\/2026\/05\/AI-roadmap-graphic.jpg 1500w, https:\/\/poole.ncsu.edu\/magazine\/wp-content\/uploads\/sites\/425\/2026\/05\/AI-roadmap-graphic-300x169.jpg 300w, https:\/\/poole.ncsu.edu\/magazine\/wp-content\/uploads\/sites\/425\/2026\/05\/AI-roadmap-graphic-1024x576.jpg 1024w, https:\/\/poole.ncsu.edu\/magazine\/wp-content\/uploads\/sites\/425\/2026\/05\/AI-roadmap-graphic-768x432.jpg 768w&quot; sizes=&quot;(max-width: 1500px) 100vw, 1500px&quot; \/&gt;\"\n            alt=\"\"\n            src=\"https:\/\/poole.ncsu.edu\/magazine\/wp-content\/uploads\/sites\/425\/2026\/05\/AI-roadmap-graphic.jpg\"\n            style=\"aspect-ratio: 16\/9; object-fit: cover; \"\n          \/>\n        <\/div>\n      <\/div>\n    \n    <div class=\"content-card__text-container\">\n      \n                        <h3 class=\"content-card__headline\">From Classroom to Boardroom: Jenkins MBA Students Help Shape a Company\u2019s AI Future<\/h3>\n              \n\n              \n\t      \t        <p class=\"content-card__teaser\"><span class=\"text\">What started as a class assignment became a real-world strategy when Jenkins MBA students built an AI roadmap now guiding a digital marketing agency\u2019s next move.<\/span><span class=\"arrow-indicator\"><svg class=\"wolficon wolficon-arrow-right-light\" role=\"img\"  aria-hidden=\"true\">\n\t\t\t\n\t\t\t<use xlink:href=\"#wolficon-arrow-right-light\">\n\t\t<\/svg><\/span><\/p>\n\t      \t    \n          <\/div>\n\n  <\/a>\n\n    <\/div>\n\n            <a href=\"https:\/\/poole.ncsu.edu\/magazine\/issues\/poole-business-spring-2026\/\" class=\"magazine-preview__link\">\n          <span class=\"text\">See all in current issue<\/span><span class=\"arrow-indicator\"><svg class=\"wolficon wolficon-arrow-right-bold\" role=\"img\"  aria-hidden=\"true\">\n\t\t\t\n\t\t\t<use xlink:href=\"#wolficon-arrow-right-bold\">\n\t\t<\/svg><\/span>\n        <\/a>\n    <\/div>\n","protected":false,"raw":"<!-- wp:ncst\/dynamic-header {\"block\":\"ncst\/default-immersive-post-header\"} -->\n<!-- wp:ncst\/default-immersive-post-header {\"displayCategoryID\":8,\"subtitle\":\"Chip and Lyn Andrews renew their investment in the Andrews Launch Accelerator, further fueling opportunities for NC State founders.\"} \/-->\n<!-- \/wp:ncst\/dynamic-header -->\n\n<!-- wp:paragraph {\"className\":\"is-style-lead\"} -->\n<p class=\"is-style-lead\"><strong>When Robert \"Chip\" F. Andrews III and his wife Lyn first committed $1 million to NC State<\/strong> in 2016, the goal was straightforward: give talented students with big ideas the resources to actually build something.<\/p>\n<!-- \/wp:paragraph -->\n\n<!-- wp:ncst\/aside-widget {\"alignment\":\"left\"} -->\n<!-- wp:ncst\/aside-fact {\"svgSlug\":\"lightbulb\",\"heading\":\"\\u003cstrong\\u003eThe goal was straightforward: give talented students with big ideas the resources to actually build something.\\u003c\/strong\\u003e\",\"textColor\":\"custombg_two\"} \/-->\n<!-- \/wp:ncst\/aside-widget -->\n\n<!-- wp:paragraph -->\n<p>As the <a href=\"https:\/\/entrepreneurship.ncsu.edu\/andrews-launch-accelerator\/\">Andrews Launch Accelerator (ALA)<\/a> marks its 10th anniversary, the couple is doubling down, announcing a new $1 million gift on Day of Giving to establish an endowment that will fund the program in perpetuity.<\/p>\n<!-- \/wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>For Chip Andrews, who earned his B.A. in economics from NC State in 1966, the decision to give again wasn't complicated. The numbers made the case on their own.<\/p>\n<!-- \/wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Since 2016, the ALA has worked with 49 companies and more than 250 people, distributing $476,500 in equity-free seed capital to participating teams. Those teams then attracted more than $44 million in outside investment.<\/p>\n<!-- \/wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>\u201cOur funding has helped, but they are proving themselves in the marketplace,\u201d Andrews says. \u201cThat's what this was always about.\u201d<\/p>\n<!-- \/wp:paragraph -->\n\n<!-- wp:ncst\/aside-widget -->\n<!-- wp:ncst\/pullquote {\"value\":\"\u201cOur funding has helped, but they are proving themselves in the marketplace. That's what this was always about.\u201d\",\"textColor\":\"custombg_seven\"} \/-->\n<!-- \/wp:ncst\/aside-widget -->\n\n<!-- wp:paragraph -->\n<p>The program carries a 65 percent company survival rate, a figure Andrews notes with satisfaction.<\/p>\n<!-- \/wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>\u201cYou have an idea or a concept, and 65 percent of them are making something happen,\u201d he says. \u201cThat's meaningful.\u201d<\/p>\n<!-- \/wp:paragraph -->\n\n<!-- wp:heading {\"levelOptions\":[2,3,4,5,6]} -->\n<h2>From Operating Grant to Endowment<\/h2>\n<!-- \/wp:heading -->\n\n<!-- wp:paragraph -->\n<p>The Andrews\u2019 original gift served as an operating grant, and it has been supplemented over time by contributions from other donors. With significant funds still remaining and years of distributions ahead, Andrews said he and Lyn wanted to take it one step further with this new gift.<\/p>\n<!-- \/wp:paragraph -->\n\n<!-- wp:ncst\/aside-widget {\"alignment\":\"left\"} -->\n<!-- wp:ncst\/pullquote {\"value\":\"\u201cWe wanted to create an endowment. That will create earnings on its own to provide for future annual funding for the Andrews Launch Accelerator.\u201d\",\"textColor\":\"custombg_seven\"} \/-->\n<!-- \/wp:ncst\/aside-widget -->\n\n<!-- wp:paragraph -->\n<p>\u201cWe wanted to create an endowment,\u201d he says. \u201cThat will create earnings on its own to provide for future annual funding for the Andrews Launch Accelerator.\u201d<\/p>\n<!-- \/wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Andrews is quick to note that the accelerator's success has never been solely about his family's investment.<\/p>\n<!-- \/wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>\u201cIt's not just about what Lyn and I are doing,\u201d he says. \u201cPoole provides extensive support. Haley Huie, the director of the <a href=\"https:\/\/entrepreneurshipclinic.ncsu.edu\/\">Entrepreneurship Clinic<\/a>, and Josh Guter, the program manager, have both been exceptional stewards for the ALA. Without their support, it really couldn't work.\u201d<\/p>\n<!-- \/wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>He also singled out the Wilson College of Textiles as a particularly active partner, reflecting the university-wide reach the program has developed.<\/p>\n<!-- \/wp:paragraph -->\n\n<!-- wp:heading {\"levelOptions\":[2,3,4,5,6]} -->\n<h2>The Making of a Mentor<\/h2>\n<!-- \/wp:heading -->\n\n<!-- wp:paragraph -->\n<p>Chip Andrews takes a hands-on approach to the ALA, and brings decades of expertise to the table. After graduating from NC State, he joined FMI Corporation, a management consulting and investment banking firm serving the international engineering and construction industries, where he became chairman and CEO before retiring in 2014. Today he serves as managing partner of Andrews Ventures LLC, which oversees family investments in startups, real estate and other business opportunities.&nbsp;<\/p>\n<!-- \/wp:paragraph -->\n\n<!-- wp:ncst\/aside-widget -->\n<!-- wp:ncst\/pullquote {\"value\":\"\u201cAs a consultant, you're not just giving guidance and advice, customers are also telling you what they're doing in operations and strategy. You're teaching but also learning from them.\\u0022\",\"textColor\":\"custombg_seven\"} \/-->\n<!-- \/wp:ncst\/aside-widget -->\n\n<!-- wp:paragraph -->\n<p>He has remained heavily involved at NC State as well, in roles from serving on the Graduate School Advisory Board to Poole\u2019s Advisory Board, and including two terms on the NC State University Board of Trustees. He currently serves on the Board of Trustees for the NC State Endowment Fund.&nbsp;<\/p>\n<!-- \/wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Working with hundreds of companies over his long career gives Andrews a unique vantage point.<\/p>\n<!-- \/wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>\u201cAs a consultant, you're not just giving guidance and advice, customers are also telling you what they're doing in operations and strategy,\u201d he says. \u201cYou're teaching but also learning from them.\"<\/p>\n<!-- \/wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>\u201cI've seen lots of successful companies in my career and want to help others find a successful path along the way.\u201d<\/p>\n<!-- \/wp:paragraph -->\n\n<!-- wp:heading {\"levelOptions\":[2,3,4,5,6]} -->\n<h2>The ALA: 10 Years In<\/h2>\n<!-- \/wp:heading -->\n\n<!-- wp:paragraph -->\n<p>A decade in, the ALA is as much about learning and mentorship as it is about the entrepreneurial journey. Students learn in a cohort setting, they work through business development milestones, and they dive deep into understanding the customers they\u2019ll serve. Becoming storytellers is also at the heart of the program, Andrews says.<\/p>\n<!-- \/wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>\u201cWhen people come to the accelerator, they're asked to describe their opportunity,\u201d he says. \u201cSometimes they don't know how to tell a story.<\/p>\n<!-- \/wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>\u201cWe work a lot on that \u2014 you have to be able to get people excited about what you're doing.\u201d<\/p>\n<!-- \/wp:paragraph -->\n\n<!-- wp:ncst\/aside-widget -->\n<!-- wp:ncst\/aside-fact {\"svgSlug\":\"mug\",\"heading\":\"321 Coffee, founded by NC State students Lindsay Wrege and Michael Evans began working with the ALA in 2020.\",\"callToAction\":\"Check out 321 Coffee\",\"url\":\"https:\/\/poole.ncsu.edu\/magazine\/brewing-change\/\",\"textColor\":\"custombg_two\"} \/-->\n<!-- \/wp:ncst\/aside-widget -->\n\n<!-- wp:paragraph -->\n<p>The program moves participants through customer orientation, pushing them well beyond the handful of conversations most founders think constitutes market research to have hundreds of customer conversations. They move then into product development, legal and accounting fundamentals, go-to-market strategy, and fundraising and investor readiness.<\/p>\n<!-- \/wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Andrews can rattle off success stories in a way that\u2019s clear he is someone who has watched them unfold up close.<\/p>\n<!-- \/wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>CN Seamless, a hardware startup built around portable fabrication machines, began as a senior design project before its founders recognized they had a real business on their hands. They've since scaled internationally. An introduction through the ALA connected them with an investor who became a lasting advisor.<\/p>\n<!-- \/wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>\u201cThey said hearing from different experts in sales, product development, and business gave them entirely new perspectives,\u201d Andrews recalls.<\/p>\n<!-- \/wp:paragraph -->\n\n<!-- wp:ncst\/aside-widget {\"alignment\":\"left\"} -->\n<!-- wp:ncst\/aside-fact {\"svgSlug\":\"star\",\"heading\":\"Casalu, a rum-based hard seltzer brand celebrating Latino culture, was founded by Gabriel Gonz\u00e1lez, a previous ALA administrator before deciding to become an entrepreneur himself.\",\"textColor\":\"custombg_two\"} \/-->\n<!-- \/wp:ncst\/aside-widget -->\n\n<!-- wp:paragraph -->\n<p>321 Coffee, founded by NC State students Lindsay Wrege and Michael Evans began working with the ALA in 2020. The company, a coffee shop and roaster that employs adults with disabilities, now has more than 50 employees and corporate partnerships with companies like Whole Foods.<\/p>\n<!-- \/wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>Another startup focused on South Asian fashion \u2014 formal wear for weddings and celebrations that American customers couldn't find domestically \u2014 was forced to completely reinvent itself when COVID eliminated many of those events for a while, Andrews says. Understanding how to pivot is another vital step in the process, he notes.<\/p>\n<!-- \/wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>And Casalu, a rum-based hard seltzer brand celebrating Latino culture, was founded by Gabriel Gonz\u00e1lez, who had previously worked as an ALA administrator before deciding to become an entrepreneur himself.<\/p>\n<!-- \/wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>\u201cGabe is building a successful enterprise, one learning step at a time,\u201d Andrews says.<\/p>\n<!-- \/wp:paragraph -->\n\n<!-- wp:heading {\"levelOptions\":[2,3,4,5,6]} -->\n<h2>The Andrews\u2019 \u201cWhy\u201d<\/h2>\n<!-- \/wp:heading -->\n\n<!-- wp:paragraph -->\n<p>The Andrews\u2019 decision to give this latest gift is about their long-time support for NC State, and about Chip Andrews\u2019 passion for entrepreneurship following a career spent watching ideas sprout into businesses that then learned to grow.<\/p>\n<!-- \/wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>He also recognizes the value of the ALA is about lessons learned and carried forward. Some of these entrepreneurs may end up in other industries where they\u2019ll bring valuable experience and knowledge.<\/p>\n<!-- \/wp:paragraph -->\n\n<!-- wp:ncst\/aside-widget {\"alignment\":\"left\"} -->\n<!-- wp:ncst\/pullquote {\"value\":\"\u201cYou don't have to know what you want to do, just be there, understand what their challenges are, and find where you can help.\\u0022\",\"textColor\":\"custombg_seven\"} \/-->\n<!-- \/wp:ncst\/aside-widget -->\n\n<!-- wp:paragraph -->\n<p>\u201cThese participants learn a lot about turning an idea into profitable revenue,\u201d he says. \u201cThat's what hiring companies are looking for \u2014 people who go through the ALA are much more valuable candidates for jobs they may pursue.\u201d<\/p>\n<!-- \/wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>To other alumni considering their own involvement, financial or otherwise, Andrews offers simple advice: show up.<\/p>\n<!-- \/wp:paragraph -->\n\n<!-- wp:paragraph -->\n<p>\u201cGet involved, learn from your peers, interact with the dean or the chancellor or professors,\u201d he says \u201cYou don't have to know what you want to do, just be there, understand what their challenges are, and find where you can help.\" &nbsp;<\/p>\n<!-- \/wp:paragraph -->\n\n<!-- wp:ncst\/magazine-preview {\"backgroundColor\":\"custombg_four\",\"issueID\":84} \/-->"},"excerpt":{"rendered":"<p>Chip and Lyn Andrews renew their investment in the Andrews Launch Accelerator, further fueling opportunities for NC State founders.<\/p>\n","protected":false},"author":52483,"featured_media":515711,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"views\/single-immersive.blade.php","format":"standard","meta":{"_acf_changed":false,"source":"","ncst_custom_author":"Lea Hart","ncst_show_custom_author":true,"ncst_dynamicHeaderBlockName":"ncst\/default-immersive-post-header","ncst_dynamicHeaderData":"{\"displayCategoryID\":8,\"showAuthor\":true,\"showDate\":true,\"showFeaturedVideo\":false,\"subtitle\":\"Chip and Lyn Andrews renew their investment in the Andrews Launch Accelerator, further fueling opportunities for NC State founders.\",\"titleColor\":\"custombg_one\"}","ncst_content_audit_freq":"","ncst_content_audit_date":"","ncst_content_audit_display":false,"ncst_backToTopFlag":"","footnotes":""},"categories":[8,26],"tags":[],"_ncst_magazine_issue":[84],"class_list":["post-515709","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-giving","category-newswire"],"displayCategory":{"term_id":8,"name":"Impact of Giving","slug":"giving","term_group":0,"term_taxonomy_id":8,"taxonomy":"category","description":"","parent":0,"count":15,"filter":"raw"},"acf":{"ncst_posts_meta_modified_date":null},"_links":{"self":[{"href":"https:\/\/poole.ncsu.edu\/magazine\/wp-json\/wp\/v2\/posts\/515709","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/poole.ncsu.edu\/magazine\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/poole.ncsu.edu\/magazine\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/poole.ncsu.edu\/magazine\/wp-json\/wp\/v2\/users\/52483"}],"replies":[{"embeddable":true,"href":"https:\/\/poole.ncsu.edu\/magazine\/wp-json\/wp\/v2\/comments?post=515709"}],"version-history":[{"count":9,"href":"https:\/\/poole.ncsu.edu\/magazine\/wp-json\/wp\/v2\/posts\/515709\/revisions"}],"predecessor-version":[{"id":515882,"href":"https:\/\/poole.ncsu.edu\/magazine\/wp-json\/wp\/v2\/posts\/515709\/revisions\/515882"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/poole.ncsu.edu\/magazine\/wp-json\/wp\/v2\/media\/515711"}],"wp:attachment":[{"href":"https:\/\/poole.ncsu.edu\/magazine\/wp-json\/wp\/v2\/media?parent=515709"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/poole.ncsu.edu\/magazine\/wp-json\/wp\/v2\/categories?post=515709"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/poole.ncsu.edu\/magazine\/wp-json\/wp\/v2\/tags?post=515709"},{"taxonomy":"_ncst_magazine_issue","embeddable":true,"href":"https:\/\/poole.ncsu.edu\/magazine\/wp-json\/wp\/v2\/_ncst_magazine_issue?post=515709"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}