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DURHAM – Nearly 250 educators, business leaders and legislators met to discuss how to better prepare the future leaders of tomorrow on Thursday.

It's all part of the second annual North Carolina Chamber Education Summit.

“Education is the most important thing we can do if we want to have jobs and a strong economy for the future,” said Jim Hunt, a former governor of North Carolina.

Hunt received a standing ovation as he took the podium. He is a well respected leader in education and wants to see the state thrive in the 21st century. In order to achieve that goal, business leaders and educators came together to discuss how to shape the future so that students can compete globally.

“We're not just competing with other states but with other countries around the world, so our kids today need to be better education, better prepared and more rigorous, and I think the economy and the jobs of the future will require that,” said Lew Ebert, the president for the North Carolina Chamber of Commerce.

Students aren't the only ones being graded. The United States Chamber of Commerce released a report card to look at innovation in K through 12 education.

Out of eight categories, North Carolina received a D in finance, a C in school management and B's in all the other categories including hiring and evaluation, removing ineffective teachers, data, pipeline to postsecondary and technology. They did not receive a grade in state reform environment for a lack of data.

“A majority of states were really clumped in the middle and North Carolina was one of those states as well, so when we think about what can be done differently and how does North Carolina improve, we can think about giving principals and teachers greater flexibility in the schools,” said Karen Elzey, with the U.S. Chamber of Commerce.

Leaders also said to continue developing innovative programs and focusing on core subjects.

“Worldwide we're slipping a bit in the sciences and in math and we've got to do something about that and it's not an issue for just the best kids, I repeat, it's not just an issue for the best kids, it's an issue for all,” said Sam Houston, the president and the CEO of the North Carolina Science Math and Technology.