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December 29th, 2014

December 29th, 2014

TENNESSEE INNOVATION IN THE NEWS

Bellhops Founders Overcame Iron Bowl Rivalry to Move Mountains…of Furniture
Chattanooga Times Free Press
Alabama and Auburn might be gridiron rivals, but in the business world, it’s a different story. Graduates of the two schools who a few years ago started Bellhops, a moving service that employs college students, have seen their young business score big time in the Silicon Valley. Matt Patterson, Bellhops chief operating officer and a 2008 University of Alabama graduate with a degree in finance, said the company recently raised $6 million from Silicon Valley investors. Its total venture capitalist funding stands now at $7.8 million.

Horizon Technology Finance Provides Venture Loan Facility to SIGNiX
MarketWatch
Horizon Technology Finance Corporation, a leading specialty finance company that provides capital in the form of secured loans to venture capital backed companies in the technology, life science, healthcare information and services, and cleantech industries, today announced it has closed a venture loan facility for SIGNiX, Inc., a leading provider of secure digital signatures. SIGNiX will use the proceeds for working capital purposes.

How to Launch a Business in the Sharing Economy (featuring Bellhops)
Entrepreneur
Another company, Bellhops, a moving service that contracts students, targets potential movers via reputable student organizations such as ROTC and sports teams, says co-founder and chairman Cameron Doody. The Chattanooga, Tenn.-based company has a network of 10,000 movers operating in 136 cities.

The “Internet of Things” is a Strange Term, but a Big Opportunity
Knoxville News Sentinel
What did you think of when you first heard the term, “Internet of Things”? My first thought was to imagine how my grandmother might have described the Internet the first time she surfed online. As terrible as the name is, the “Internet of Things” is in fact a real term that each of us will hear more and more about in the coming years. Many experts describe it as the next big revolution in technology and believe that it will cause massive changes to the world as we know it.

NerdWallet: Nashville a Top Place to Live and Work in 2014
Nashville Business Journal
According to NerdWallet’s analysis, Nashville had strong performance in home ownership and entrepreneurship, with relative overall affordability.

Tennessee Crowdfunding Rules Go Into Effect Next Month
Memphis Business Journal
The door opens for Tennessee businesses looking to solicit capital from in-state investors online, also known as crowdfunding, in January. Supporters of crowdfunding say it allows entrepreneurs and startups to tap a wider net in order to get the early capital to a company off the ground. In the General Assembly this past year, state lawmakers followed up on federal actions to allow companies to raise up to $1 million per year from Tennessee investors and accept up to $10,000 from individual unaccredited investors.

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