Getting to Smarter Solutions, Faster
Getting to Smarter Solutions, Faster How Data is Being Leveraged to Improve Communities and Economic Competitiveness On September 22, 2021, Start Co. hosted a virtual convening with experts from across the nation to discuss ways in which data is being used to strengthen quality of life, access to opportunity, economic growth, and government decision-making. Guest speakers provided examples of how their organizations are using data to support public and private sector leaders’ efforts to address economic, social, and civic challenges, and they also shared insights on lessons learned and best practices that can be leveraged in Memphis. Experts: Mariela Alfonzo, Ph.D – CEO of State of Place Ross DeVol – President and CEO of Heartland Forward Mike Beevor – Expert in Residence at DigiCity The conversation was moderated by Start Co.’s President, Andre Fowlkes, with support from Rachel Reilly of Aces & Archers. Fowlkes began the discussion by highlighting Start Co.’s work with startups, partners, and clients that are launching technologies and innovative civic solutions to help strengthen communities. He also shared information on the Digital City initiative in Memphis, TN which is dedicated to creating a data visualization environment that can be used to better understand trends and existing conditions, as well as inform public- and private-sector decision-makers. Dr. Mariela Alfonzo, CEO of State of Place, then shared information about the value-add her company provides to civic leaders tasked with identifying public investment priorities. State of Place is helping local governments quantify the ties between urban design and quality of
Data-for-Good Convening
Getting to Smarter Solutions, Faster How Data is Being Leveraged to Improve Communities and Economic Competitiveness We have entered a new age of decision-making where data can be captured passively and actively, aggregated and analyzed, and then used to make increasingly accurate predictions about near- and long-term outcomes. That information is being used to create data-driven solutions which are accelerating and strengthening efforts to expand opportunity, improve communities, and advance local economies. This era of analytical abundance is quickly transforming the world, and creating competitive advantages for public- and private-sector leaders who embrace this shift. However, communities that have the most to gain from implementing data-driven solutions are often unable to do so due to social, economic, and even geographic divides. Inclusivity is key, and those working collaboratively to use data to inform decision-making have the potential to advance their agendas more effectively and will set a new bar to make meaningful civic and social impact for all. On Wednesday, September 22, Start Co. will host a virtual convening during which experts from across the nation will discuss ways they use data to strengthen quality of life and access to opportunity, government decision-making, and economic growth. Guest speakers will also share insights on lessons learned and best practices that can be leveraged in Memphis. Register to join! Guest speakers: Mariela Alfonzo, Ph.D – State of Place Ross DeVol – Heartland Forward Mike Beevor – DigiCity Date: September 22 , 2021 2:30 – 3:30 pm CT
The Start Co. Starter’s Toolkit
Overview The Start Co. Starter’s Toolkit is designed to guide Startups in the early stages of development from the idea phase to the product success phase through the Startup Valley of Death. As a Startup it will often seem like the odds are against you, when you pursue your ideas, you burn through your precious time, money, and resources, it is no wonder that the average Startup founder fails 3.7 times before achieving some form of business success. By creating this toolkit, Start Co. is hoping that promising entrepreneurs will recognize how much work is necessary to put into their companies and themselves to achieve success. Founders will not be able to attain this success without growing on their own, without the aid of Start Co, and this pathway should teach entrepreneurs to be more self-sufficient. 4 D’s – Tool’s and Methods The 4 D’s are the four stages of development, while not a comprehensive list, it points to solid first steps to establishing some staying power as a business. Entrepreneurs should be well-versed on their own companies stages of development before seeking out investment dollars or other late stage resources in order to gain trust and market knowledge to show how viable their business ideas really are. These methods are put in place because there are no shortcuts when it comes to achieving entrepreneurial success, but structure and planning will push your business forward while enforcing clearset goals. D1: Founder Development To attain Startup success the founder must continually
Innovation District Convening Featuring National Experts
On July 27th, 2021, Start Co. hosted a virtual convening with experts on building and sustaining innovation districts. Innovation districts align public and private partners behind a shared effort to boost economic growth and improve residents’ quality of life. The expert speakers were: Bruce Katz, Co-Founder of New Localism Advisors and the Nowak Metro Finance Lab at Drexel University David Adams, Chief Innovation Officer at the University of Cincinnati Michael Pegues, Chief Innovation Officer of the city of Aurora, IL Andre Fowlkes, President of Start Co., moderated the session as speakers shared insights, lessons learned, and best practices in building communities around the world. Each speaker was given roughly ten minutes to share personal insights on how to advance successful place-based economic development strategies, such as Innovation Districts, through local collaboration and national engagement. This was followed by an engaging interactive discussion. In Memphis, partners are coming together to build a special district called The Digital City, a model analogous to that of an Innovation District. The Digital City is facilitating cross-sector participation from government, businesses, and community leaders to invest time, expertise, and capital to activate technology and talent to drive inclusive economic growth. The effort is anchored in the heart of downtown Memphis, and its benefits will radiate throughout the region. “The Digital City is trying to marry Smart City infrastructure with entrepreneurial ecosystem-building; doing it around corporate, government, and institutional anchors that are here for cluster-based innovation and entrepreneurship” – Andre Fowlkes Highlights from the virtual convening
Making a Great Elevator Pitch
Vital to every successful business is a “sticky” Elevator Pitch, one that includes a brief, memorable business description around 2-4 sentences. A potential resource needs to understand what solution you are offering. Have real, vibrant examples prepared that demonstrate how you helped a customer overcome a unique challenge. Providing examples demonstrates that you can solve problems specific to the individual. Be clear in what you are asking for with the pitch. This is most effective when you have a clear understanding of where your business is at in terms of development. Are you solely in need of funding, or can this person provide you with potential customers, mentorship, resource connections, or talent? Construct your pitch with your end goals in mind. Example: Start Co. is a non-profit organization that works with ideas and entrepreneurs that have ideas; we accelerate those ideas into startup companies; and surround those companies with an ecosystem of support resources. It is our relentless building of founders and their early stage companies that we feel is the missing ingredient to stimulating Memphis’ economic growth. Early stage refers to those startups ranging from ideas to companies demonstrating product success. Starting up is very difficult because of the lack of early stage technical assistance; access to quality mentors; connections to seed, validation, and angel funding; and access to resources that can stimulate growth. Start Co. solves this problem through its Start Mentoring, Start Investing, Start Launching, and Start Empowering platforms; where we are mentors, investors, evangelist, and catalysts
Alumni Spotlight: SecondKeys
Continuing on with our series highlighting our accelerator alumni, we spoke with CEO, Amber Hayes, and CTO, Mars McClain, of Memphis-based startup, SecondKeys. Amber has a background in electrical engineering and computer science. Three years ago, after previously working as the lead developer with two startups, Amber decided to start SecondKeys. Mars brings a background of data analytics, computer science, and intelligence operations to his role as CTO. Together, Amber and Mars help SecondKeys provide a cloud-based property management tool that implements machine learning to help predict maintenance plans and capital allocation. SecondKeys is simultaneously a woman-owned, minority-owned, and veteran-owned startup. SecondKeys came in 3rd place for Startup of the Year in 2019, as well as having been placed in the Top 10 Startups of Memphis for three consecutive years. They have also placed in Nashville’s 36|86 pitch competition. What are the 5 – 10 year goals for SecondKeys? Mars: “We want SecondKeys to be the catalyst for how we rethink real estate technology in the US. Wherever a person needs a place to live, we want the foundation of our work to be a part of it.” How has being based in Memphis enhanced your business? Amber: “We used to know about startup accelerators in big cities and out of state when we first started the company. However, being able to stay in the South and receive funding there has helped us gain more customers here.” What has guidance from Start Co. has been the most impactful for your
Digi.City — Digital Skills Building is Now America’s Moral Imperative
The work from home (WFH) movement has demonstrated the importance of technological literacy and access. Regardless of your profession, there is a minimum requirement for tech expertise with the bar raising everyday. Further, we must overcome the digital divide. Read up more in this great article by Chelsea Collier, our director of Digital Communities and founder of Digi.City here: https://www.digi.city/articles/2020/7/27/access-to-digital-skills-building-is-americas-moral-imperative
Interview with Sumeet Chahal Part 2
Recently, I had the opportunity to interview Sumeet Chahal, the Chief Experience Officer (CXO) of Bunker Labs. Sumeet is a veteran of the United States Marine Corps and holds a degree in Computer Engineering from Texas A&M University. The United States military provides a massive network of support for military personnel, but this network is under-utilized when veterans leave the military. Sumeet and Bunker Labs strive to build and leverage a network of veteran entrepreneurs. Veterans leave the military possessing a wide skill set, yet they are 40% less likely to receive traditional bank loans. Sumeet described to me that for many veterans, serving was an act of selflessness, and many shy away from utilizing this network because it felt selfish to ask for help. Bunker is changing this narrative. By connecting veterans throughout the country through entrepreneurship programs that help veterans find resources and scale their businesses or the pre-COVID-19 social gatherings to connect with other entrepreneurs. Bunker gives veterans the support to make the necessary connections, whether it be a mentor, a partnership, or a new customer to help veteran-owned businesses scale. Check out part 1 of the interview here. Carter: You’ve been all over the United States, from College Station to Dallas to OKC to Chicago to Memphis, what are your thoughts on Memphis’s current trajectory and potential to continue fostering entrepreneurship and technological innovation? Sumeet: I will speak very candidly about this as I am very passionate on the topic. Prior to moving here, my understanding
Interview with Sumeet Chahal Part 1
Recently, I had the opportunity to interview Sumeet Chahal, the Chief Experience Officer (CXO) of Bunker Labs. Sumeet is a veteran of the United States Marine Corps and holds a degree in Computer Engineering from Texas A&M University. The United States military provides a massive network of support for military personnel, but this network is under-utilized when veterans leave the military. Sumeet and Bunker Labs strive to build and leverage a network of veteran entrepreneurs. Veterans leave the military possessing a wide skill set, yet they are 40% less likely to receive traditional bank loans. Sumeet described to me that for many veterans, serving was an act of selflessness, and many shy away from utilizing this network because it felt selfish to ask for help. Bunker is changing this narrative. By connecting veterans throughout the country through entrepreneurship programs that help veterans find resources and scale their businesses or the pre-COVID-19 social gatherings to connect with other entrepreneurs. Bunker gives veterans the support to make the necessary connections, whether it be a mentor, a partnership, or a new customer to help veteran-owned businesses scale. Here is the first of two parts of our interview: Carter: Can you give me a bit of background on the beginnings of Bunker Labs, as well as your story in working for Bunker? Sumeet: Bunker Labs was founded six years ago by Todd Connor. In late 2016, I had decided that I wanted to shift my focus towards entrepreneurship. This led me to move to
From Digi.City: 7 Essential Elements of a Smart City Ecosystem
Getting the most out of the capabilities of a Smart City goes beyond the technological infrastructure in place. The people creating and benefiting from the solutions built on top of the technology create an effective ecosystem. Smart City efforts are usually led by one community entity, but the key to success is to get all parties within a community to engage in order to maximize the benefits. You can read up on the 7 fundamentals of a Smart City ecosystem in this great article by Chelsea Collier, our director of Digital Communities and founder of Digi.City.