The Chapel Hill Town Council unanimously agreed to expand funding for start-up incubator Launch Inc. last week, matching the financial commitments made by Orange County and providing for new co-working space and programming.

Started in 2012 with funding through the Chapel Hill Downtown Partnership, Launch has grown into a stand-alone non-profit. It provides office space, opportunities for networking and programming for new start-ups in the area.

At last week’s town council meeting, council members praised Launch, citing the potential for economic growth and job creation that is incentivized to stay right here in the local area.

Councilmember Michael Parker said the benefits go beyond the businesses directly involved with Launch Inc.

“I’ll give you all the money you want.” he said, laughing.

Chapel Hill mayor Pam Hemminger said the start-up market is an opportunity that the town and the county shouldn’t pass up.

“Two out of every five new jobs in America are in the start-up industry,” Chapel Hill mayor Pam Hemminger said at the council meeting. “And it’s said that the towns that are ready to realize that and capture that and growth that are going to have more successful job markets.”

Launch Inc accepts two cohorts a year, with around eight to 12 companies per cohort. Current residents include medical technology start-ups, a digital resource for dual language learning in grade schools, and online platform for matching mental health specialists and patients.  Alumni include Academic Benchmarking, Quantworks and Localfit.

Of the 75 alumni organizations, 46 remain in business – 25 based in Orange County.