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May 9th, 2014

May 9th, 2014

Tennessee Innovation in the News

Boston Business Journal: Adtech firm Moontoast acquires Nashville-based marketing tech startup Spendship
Advertising technology firm Moontoast, based in Boston, announced Thursday it has acquired Nashville, Tenn.-based tech startup Spendship for an undisclosed amount. The acquisition will help brands improve their engagement with fans on social media, according to Moontoast…Moontoast’s new social rich media advertising unit for Pinterest was launched with California-based technology company AMD. Moontoast built an advertising unit for AMD to help drive customers to the company’s Pinterest page. Moontoast announced in late January it closed an additional $4.5 million in its Series B funding from a Tennessee-based investment firm. This brings total funding for Moontoast to $20.5 million since its original founding in 2008 in Nashville.
Chattanoogan: Google To Help Tennessee Small Businesses May 19
U.S. Senator Bob Corker Thursday announced that representatives from Google will host a Tennessee Get Your Business Online event in Chattanooga on Monday, May 19, from 9 a.m.–12 p.m. at the Waterhouse Pavilion at Miller Plaza. At the Tennessee Get Your Business Online event, Google experts will help small business owners create a free website, and those in attendance will receive a customized domain name, free web hosting for one year, a local business listing on Google Maps, and additional tools, training and resources. The Google experts will also help train business owners on how to reach more customers online.Memphis Magazine: MEMMobile “Roll Out” Event
Inspired by best practices in Nashville, Tennessee, and Austin, Texas, this innovative new pilot program from the City of Memphis, the Mayor’s Innovation Delivery Team, and alt.Consulting aspires to give Memphians more diverse retail options, test mobile retail as a business model, and promote locally-owned businesses. MEMMobile contributes up to $15,000 in forgivable loans to five mobile businesses. In order to be eligible for this funding opportunity, successful applicants have equity of 25% of total costs. These five forgivable loans help local entrepreneurs launch their business ideas, develop a mobile business model, and enhance vibrancy in Memphis.

National Innovation in the News

Re/Code: Six Truths Digital-Health Entrepreneurs Need to Know
With billions of dollars at stake, the U.S. health-care system offers entrepreneurs a tremendous opportunity to shake up one of the most complex sectors of the American economy. But the battlefield is hazardous, the competition is stiff and the way forward is riddled with booby traps. There are at least six fundamental truths that digital-health entrepreneurs will have to accept as necessary (but not sufficient) for finding success in this alluring but notoriously tricky business. Keep these truths in mind, and you will increase your chance of success.

Forbes: The Ultimate Pitch Deck to Raise Money for Startups
Great startups don’t fund themselves. Raising money from investors for your startup is challenging at any stage and requires a great pitch, even for experienced founders with significant traction in their company. The good news is that there’s a formula for pitching your startup that has helped startup founders raise millions. In this article below I’ve distilled the investor pitch formula down to the 11 core slides you need in your initial pitch deck.

Huffington Post: Startups: Surviving the Journey to Market
There is no getting around it: startups are difficult. It is though, as most of us know, meant to be that way. As a startup, your goal is — or at least should be — to try to do things that no one has ever done before. You are working to disrupt markets with the goal of making life better in some capacity for your target audience. Inevitably, mistakes will be made and — forgive me, but — you will fail. This may sound disheartening, however, failing is not only part of being a startup, but also an integral part of learning. What is important, therefore, is to make sure that your entire company understands and internalizes that startups are indeed meant to be difficult. 

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