26 startup teams to build businesses over the next 120 days in Memphis
(SouthernAlpha) MEMPHIS, Tenn. (April 30, 2014) – Start Co. today announces the kickoff of the organization’s “Summer of Acceleration” with the launch of four accelerator programs plus a new 12-week intensive program created for local entrepreneurs with innovative small businesses. 26 startup teams comprised of over 50 entrepreneurs will embark on an intense entrepreneurial journey over the 120-day period. The companies include a diverse cross-section of sectors and services, including wearable technology, graph databasing, drones, social commerce, and more. All teams will unveil their startups on August 21st at Demo Day, as an opportunity to celebrate their accomplishments, network with the entrepreneurial community, and start to further socialize their businesses with investors and other follow-on resources.
The teams were chosen from an applicant base of more than 200 submissions globally to develop an airtight business plan, refine their offering or products, tackle company operations and begin marketing efforts. Additionally, more than 120 mentors from the business and creative community have signed on to support the teams via office hours, workshops, and training. Start Co.’s is one of 50 members of the Global Accelerator Network which sets the standard for excellence in startup acceleration.
“The Summer of Acceleration is a first for Memphis and the Mid-South,” said Start Co. CEO Eric Mathews. “This is the first time we’ve run accelerators simultaneously with this many entrepreneurs building their businesses, all in downtown Memphis.”
Over 50 founders, a mix of Memphis-based teams and others hailing from New York, Pennsylvania, Florida, California, and Singapore, will spend the summer in Memphis to take part in one of the summer accelerators:
- Seed Hatchery: Memphis’ first accelerator program is focused on web and technology-based startups. Since its inception in 2011, a total of 18 companies have launched through Seed Hatchery. The four teams making up this year’s Seed Hatchery cohort include: Troopto, Trackit, Tortuga, and OpenRPOS.
- Upstart: One of the nation’s first accelerators dedicated to women-led startups. To date, Start Co. is responsible for accelerating five women-led companies through the Upstart accelerator. The 2014 Upstart cohort include: Play-tag, eDivv, BarterSugar and WEOID.
- SparkGap: The first accelerator exclusively for logistics technology, which leverages Memphis’ status as a global logistics capital. Three teams join the inaugural SparkGap cohort, and include: GraphStory, Extra Rail, and CamInAir.
- Sky High: Memphis’ first social innovation accelerator, which connects existing and new innovators with the tools to make substantial social impact. The seven teams joining the first cohort include: CoreFire Commandos, College Initiative, Yawway, FuelFilm, Care2Manage, Life Enhancement Services, and Power Angels.
Also, seven other teams will be participating in a new program called Start University, an intense 12-week program running simultaneously with the accelerators, specific for local entrepreneurs with unique small business offerings. Using the Start Co. resources and methods they will move their companies from the ideation stage to investable business entities. Additionally, two teams will be visiting from Hungary and Amsterdam to shadow and participate in the cohorts, with intentions of bringing their companies to Memphis in the future.
“Start Co. has one of the larger accelerator programs in the country with some of the most progressive programming I’ve seen so far,” said Mara Lewis, managing director at Start Co. “I’m excited to spend the summer on the ground in Memphis working with the teams to prepare for Demo Day in August.”
The kickoff of the Summer of Acceleration is a key milestone in the MEMx movement, the roadmap outlined in January by JumpStart, Inc. and Start Co. to bring the concept of Entrepreneurship for Everyone alive in Memphis. Other key activities completed since the movement’s inception include holding regular Small Business Office Hours at the Memphis Public Library, Ideas Weekend at the University of Memphis Crew Center for Entrepreneurship, the Business Plan Competition at Rhodes College, supporting Ignite Memphis, and offering weekly workshops for early stage technology startups.
In the past three years, more than 2,000 entrepreneurs have taken advantage of Start Co. programming, creating more than 74 new high-growth jobs in the Memphis area. Additionally the organization has provided startups with more than 8,000 hours in technical support, has recruited professional mentors from a variety of professional sectors, qualified 63 deals, and invested $530K enabling 44 startups to raise over $8MM in investment capital.
Read more about the launch of ‘Summer of Accerleration’ at The Daily News and Memphis Business Journal
About Start Co.:
Start Co. is a nationally recognized nonprofit 501(c)(3) Memphis-based venture development organization that relentlessly builds founders and companies, promoting entrepreneurship for everyone with a focus on digital startups. Start Co. is a member of the Global Accelerator Network and is currently working with JumpStart, Inc. to advance Memphis’ economic growth through entrepreneurship. The organization is supported by partners including archer>malmo, Baker Donelson, The Marston Group, Orion Federal Credit Union, and Mosaik Solutions. More information can be found at neverstop.co.