Launch Tennessee hits billion-dollar goal
NASHVILLE —Launch Tennessee (LaunchTN) announced recently that private investment in early-stage companies based in Tennessee has surpassed $1 billion, well ahead of the 2017 goal the organization set when it was formed in 2012.
The early realization of LaunchTN’s lofty $1 billion goal is indicative of the rapidly accelerating growth Tennessee’s startup scene has experienced and the attention it has received from local, regional and national investors. A ripe climate for business in Tennessee has both encouraged local entrepreneurs to start businesses in-state and enabled them to benefit from a supportive ecosystem that assists in the growth and success going forward.
“We’ve got a perfect storm that combines organic benefits like low cost of living and an extremely talented workforce produced from our world class universities, with a significantly enhanced early stage capital scene and a commitment from the highest levels of state government to make Tennessee the best place to start a new business,” said Charlie Brock, CEO of LaunchTN. “Our seven publicly funded entrepreneur centers offer in-depth industry knowledge in specific sectors like music, logistics, healthcare, 3D printing and media, which broadens the scope of ideas and ingenuity that can find success here.”
Source: Launch Tennessee