Where are they now?

A double Tar Heel, Terrence DeFranco worked thirteen years on Wall Street before deciding to pivot into the world of entrepreneurship. The September 11^th attack on the World Trade Center – where DeFranco had an office – sparked a sense of purpose within the budding business leader. DeFranco started Edentify, a data analytics solution provider focused on helping financial institutions combat fraud. He now leads IotaComm and uses his platform to make a positive impact on his home community in Lehigh Valley, Pennsylvania, and beyond.

IotaComm delivers innovative solutions that empower organizations to collect, analyze, and act on data from connected devices, driving smarter, more sustainable outcomes in the Internet of Things (IoT) ecosystem. Sustainability is a core value at IotaComm, reflected in its commitment to environmental, social, and economic impact through the Triple Bottom Line, “People, Planet, and Profit.” One initiative that exemplifies this commitment is the IotaCommUnity program and the Center for Sustainable Innovation (CSI). Among CSI’s initiatives are opportunities for paid summer internships for underserved high school students (grades 10–12), equipping them with transferable skills in artificial intelligence and technology through partnerships with local colleges and/or universities. In its inaugural year, students worked on analyzing air quality data from nearby buildings including those from the Allentown School District. DeFranco fondly recalled a conversation with a young student with asthma, who shared how the program deepened her understanding of environmental issues and empowered her to advocate for peers facing similar challenges.

After the pandemic, DeFranco enrolled in Kenan-Flagler’s MBA program. He admits he originally pursued the degree as a “bucket list item,” but quickly credited what he learned for keeping IotaComm in business as he simultaneously pursued the roles of student and CEO. Now, with a daughter about to graduate from Carolina in May, DeFranco remains involved as a guest lecturer and student mentor.

Life Advice

When offering advice to students aspiring to follow a similar career path, DeFranco emphasizes the importance of recognizing the vastness and complexity of the world beyond early perceptions. “The world is a lot bigger than you think it is growing up,” he reflects, urging students to approach every situation with humility. Acknowledging that his own journey from investment banker to tech CEO was not a straight line, DeFranco encourages students to embrace diverse opportunities and focus on building transferable skills, particularly “the ability to sell ideas and intangibles,” which he considers critical for long-term success.