MONEY

Accelerator group shows strength of TN entrepreneurs

Charlie Brock
For The Tennessean

At Launch Tennessee (LaunchTN) we see remarkable ideas come to fruition every day, thanks to the entrepreneurs who bring their talents and vision to our accelerators. Last fall, we chose our annual “best of the best,” nine startups for the TENN Master Accelerator. This five-month journey included everything from marketing seminars to master mentor meetings to presentations to venture capitalists on both coasts. The TENN companies did an outstanding job of representing their companies, our accelerator network and the strong entrepreneurial landscape in Tennessee.

This year’s TENN class has raised $4 million, and four teams already are generating revenue — and they haven’t even officially graduated yet!

To get a sense of the dedication these young entrepreneurs have shown since last fall, take a look at what their schedules have held over the last five months:

•More than 340 meetings

•5,500 miles traveled

•Tennessee Roadshow (stops in Kingsport, Knoxville, Chattanooga, Nashville, Memphis and Jackson)

•Site visits (Eastman Chemical, Pershing Yoakley and Associates, Radio Systems, Coyote Logistics, Emma and archer>malmo)

There were also visits to LaunchTN’s accelerators throughout the statewide roadshow, where the TENN participants met with other entrepreneurs, local investors and business and municipal leaders who wanted to hear about these new companies.

Participants also logged plenty of classroom time as well: LaunchTN’s vibrant network of corporate partners presented targeted Learning Days on topics ranging from legal and finance to marketing, sales, scaling technology and building a dynamic company culture.

Even with this grueling schedule, the TENN participants’ enthusiasm never flagged. That’s why the judges’ choice of this year’s TENN Traction winner was a tough decision: Feetz, a graduate of CO.LAB (Chattanooga’s accelerator) won the second annual TENN Traction award at our finale event on Thursday, March 26.

We looked at “traction” through a few different lenses, and here’s what went into our thinking:

People: Has the team become stronger — have they added key employees, advisers, investors? Being able to attract talented people to a startup is key to success.

Product: What advancements have been made with the company’s core offering? Have they listened to their early customers and continued to improve the product accordingly?

Pipeline: What investment and business development opportunities have been closed, and what’s on the horizon?

It takes a lot to make it into the TENN, and it takes even more to rise to the top of that group and take home the Traction award. But rest assured, the other young companies in this group soon will each have a full trophy case of their own. And they’re just a few of the success stories that LaunchTN and its partners are fostering all day, every day. The future of innovation and entrepreneurial growth in Tennessee has never looked better.

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 making Tennessee the No. 1 place in the Southeast for entrepreneurs to start and grow a company. For more information on LaunchTN’s flagship event 36|86, visit www.thirtysixeightysix.com.