The membership criteria, which was established by the selection committee, includes:
- Laureate can be founder or subsequent entrepreneurial leader.
- Induction into the Hall of Fame can be during active leadership role, after retirement or posthumously.
- Business founded or led by laureate must have minimum ten-year track record and must have positively impacted the community it serves.
- Laureate must personally have contributed to the greater good of the Carolinas.