Launch Tennessee gives leg up to young entrepreneurs
At Launch Tennessee, we strive to be as enterprising as the entrepreneurs we serve, which means continually creating new programs that support the formation and success of high-growth businesses in Tennessee. In that vein, we launched the Blackstone Specialist Program with a grant from the Blackstone Charitable Foundation this past summer. The Blackstone Charitable Foundation provides funding for new programs that support innovation and entrepreneurship in an ecosystem. Now, we’re taking a look at the results from the first program — and looking forward to the next chapter this spring and summer.
The specialist program brings college students and recent college graduates from across the country to Tennessee to work in our regional accelerators. Our accelerators run 13- to 15-week programs where companies turn prototypes and ideas into investible stories. Specialists have the opportunity to work either directly with the accelerator’s executive staff or with one or more startups, depending on their expertise. They are assigned a variety of projects, such as website development, graphic design, financial planning and customer discovery. Specialists also support the accelerator staff with budget management or demo day event planning. Specialists have the opportunity to network with entrepreneurs, investors, master mentors and sponsors.
In the program’s first run this summer, 27 specialists came from across the country to participate. There were 14 students from out-of-state schools and 13 from Tennessee schools. The program provides a fantastic opportunity for the specialists to learn more about the startup world and to get valuable real-world experience in their chosen field. It is mutually beneficial for the accelerators to have more hands on deck during the programs, enhancing the value to the participating companies.
Another hope for the program is that some of the specialists will return to Tennessee after graduation to start their own companies or continue to participate in the startup ecosystem. After just a few months, we are seeing success on this front. Two students continue to work as interns at the regional accelerators, one student has taken equity in a company and is continuing his work with them and three are still working with their startup companies. Several other students made connections throughout the program and continue to stay in touch regarding future opportunities.
We currently have a small fall specialist class working predominantly with the accelerator directors. We are beginning to recruit specialists for the spring and summer classes. The spring specialists will have the opportunity to work with one or more companies that are participating in The TENN, Launch Tennessee’s Master Accelerator Program. Students will be paired with companies based upon their expertise and where each company is based in Tennessee. The summer program will once again give students the opportunity to work with one of the accelerator programs across the state.
We are recruiting students with a variety of skills and an interest in entrepreneurship. Students or recent graduates interested in participating in the program can visit our website or email Brittany Burgess at brittany@launchtn.org for more information. Applications for both programs will open next week.
We already have some of the most specialized accelerators in the country (each focuses on an industry of particular regional strength), and our uniquely connected network of accelerators means there is a program for almost any kind of entrepreneur in Tennessee. Because of this, we are attracting entrepreneurs and startups from across the country — and even the world — to attend our accelerator programs. The specialist program expands that opportunity for talented young people who do not have a startup, but want to be a part of the ecosystem.
Charlie Brock is CEO of Launch Tennessee (www.launchtn.org), a public-private partnership focused on supporting the development of high-growth companies in Tennessee with the ultimate goal of fostering job creation and economic growth.