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February 5th, 2015

February 5th, 2015

TENNESSEE INNOVATION IN THE NEWS

Launch Tennessee Ramps Up Momentum to 36|86 with “Southern Series”
Launch Tennessee Blog
Launch Tennessee (LaunchTN) announces today the selection of three partners for its 36|86 Southern Series. Each event provides an opportunity for regional startup celebration and to identify the very best entrepreneurs located throughout the Southeast. Ten startups will be selected to pitch at each stop on The Southern Series, where winners will advance to LaunchTN’s inaugural 36|86 conference in June for the opportunity to win cash prizes, including $36,000 to the winner.  All Southern Series winners selected to attend 36|86 will receive a travel and lodging stipend.

2014: A Banner Year
The Jump Fund (Chattanooga)
What a year it has been!  Officially launching our fund in January 2014 and signing on over 50 women investors by June of last year were major accomplishments in themselves. We proved that there ARE women with the means and interest to be angel investors both in the Southeast and beyond.  We also found many other partners and supporters who believe that more women should play an active role in our entrepreneurial ecosytem, both as investors and entrepreneurs.  Our mission to make the Southeast the BEST place for a woman to invest in or grow a business resonated far beyond our back yard, gaining us recognition as “Angel Group of the Year” from BuildUP, a Silicon Valley organization dedicated to increasing diversity in the tech start-up sector.

GigTank Partners with Major Firms
Chattanooga TImes Free Press
Some big corporate names are partnering this year with Chattanooga’s GigTank, beefing up the summer-long accelerator program’s power and promise for the startups it takes under its wing. Alcatel-Lucent, Verizon Wireless, HomeServe USA, UPS Connect, US Ignite and Mozilla are on the list. There will likely be more, but Co.Lab, which runs the program, is still firming them up. The corporations and organizations have agreed to make their market access and industry expertise available to the startups selected for the program.

Initial State Raises $1M to Keep Data Simple
Southern/alpha
Initial State, a Nashville-based SaaS company, just raised $1M to close out a seed round of funding. The startup is a cloud-based log visualization-as-a-service platform. It helps engineers make sense of the exploding number of logs being produced by “smart,” complex products and applications. Founder Jamie Bailey describes the product as something to help users understand hardware and network connected products. “We make it easy to capture and visualize data from internet connected services and devices (Internet of Things, IoT),” Bailey said.

Nashville Capital Network’s $50M Investment Milestone
Nashville Business Journal
Sid Chambless’ mantra has been to help provide startups and entrepreneurs with capital beyond the initial seed fundraising among family and friends, to provide larger sources of funding that help fuel the growth of Nashville’s early stage companies. The executive director of Nashville Capital Network is a firm believer that there’s a funding gap for Middle Tennessee startups – between those first investments from a close circle of friends and the larger institutional investors.

New Musetic Website Designed Especially for Creators
Chattanoogan.com
Dave Connis and Joshua Chandler have launched the first alternative to Reddit, built specifically for creators (comic makers, writers, poets, etc.) and artists, called Musetic. They are sharing a community home to user-created content, curated by user up-vote. Reddit users started a news-making discussion in October for not allowing users to submit self-made content. Musetics will not ban users for posting their creations and the site wants to inspire and encourage users to create, not turn them away when they do.

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