DURHAM – Doug Speight, American Underground’s (AU) head of Growth and Startup programs and former executive director, is moving on.

His next move: to start a new venture with a fellow AU founder, though the name of that person and the startup’s are still under wraps.

“Our team is developing a suite of B2B enterprise solutions built upon a tech platform licensed from a global tech corporation. Cryptic, I know,” he wrote in an email to AU members earlier this month.

WRAL TechWire

Touring American Underground’s main campus (L-R)
Photo4: Carolina Small Business Development Fund’s
Joe Battle, Brian Abrahamson, Au’s Doug Speight, NC’s Military and Veterans Affairs Secretary Larry Hall, AU’s Veteran-In-Residence Tim Horan.

“But due to the terms of the deal, I’ll be at liberty to disclose more in the near future.”

Speight added: “If you know me at all, you know that I thrive on acts of service, and serving this amazing community of founders has been a labor of love. I have a “founder-first” perspective because I know intimately, can relate to and empathize with the challenges that you face daily.

“It gives me great joy to aid your growth through and beyond those challenges. Thank you for that honor and privilege. In return, you’ve inspired me, in the best way, to pursue my best and highest contribution to this world, and that’s to build, to create and bring to market.”

AU shakeup

The news comes just two months after the Durham-based startup and entrepreneurial hub announced that it had merged with Big Top, a Triangle-based networking platform and events series for startups.

The shakeup resulted in Speight switching roles from executive director, where he served for a little more than a year, to head of Growth and Startup Programs.

Molly Demarest, formerly Big Top’s director, is now AU’s general manager.

AU – one of 11 Google for Startups hubs in North America – launched seven years ago in the basement of an old tobacco warehouse at the American Tobacco Historic District. Owned by WRAL TechWire parent Capitol Broadcasting, it now encompasses close to 125,000 square feet of space at three locations in downtown Durham.

“Rest assured that you are in the best hands possible,” Speight told AU members.

“I’m honored to have served alongside a stellar AU team who all have your best interests in mind and will go over and above the call of duty to see you succeed.

“Together, we’ve initiated renovation of our spaces, expansion of our hallmark programs and engagement in new partnerships. My partner, colleague and friend, Molly Demarest, is poised to take American Underground to new heights in operational excellence and regional connectivity, resulting in more resources for you to grow and succeed.

(C) Big Top

Molly Demarest

“Alas, this is not farewell, as my new company will remain AU-based and I’ll continue to serve this great community and the city that I love.”

In a follow-up email, Demarest wrote: “He’s contributed to the community in his role at the AU. We’re super excited for Doug in this next phase, and we can’t wait to continue cheering him on.”

American Underground merges with Big Top, expanding its range of services