seedhatchery Archives - Serious Startups

Memphis Bioworks’ ZeroTo510 Class “All In” On Everywhereelse.co Startup Conference

The Memphis Bioworks Foundation’s partnership program with Seed Hatchery, called Zeroto510, is all in for the upcoming everywhbereelsse.co The Startup Conference event in February in Memphis Tennessee.

All 6 teams that participated in the summer acceleration program housed at Memphis Bioworks Foundation in Memphis’ Medical District, have committed to “Startup Village Booth Space” where they will pitch their companies to over 400 investors coming from out of town. They’ll also get the chance to talk about the most successful acceleration program in the United States with over 85% of the initial class receiving follow on funding.

The program was spearheaded by Steven Bares, President and Executive Director of the Memphis Bioworks Foundation, Lauren Bigger, Program Manager of Bioworks Business Association, Allan Daisley Director of Entrepreneurship and Sustainability for the foundation and Eric Mathews and Andre Folkes, Co-President’s at Launch Your City, the Seed Hatchery arm of the program.

Innova, an early stage investor group and MB Ventures, both of Memphis, were also major partners for the ZeroTo510 program.

The success of the Memphis Bioworks, Seed Hatchery joint venture has trickled across the country an around the globe. That prompted Dr. Laura Faulconer who runs an incubator program in Australia, to recently visit the Memphis Bioworks Foundation and spend some time learning from Daisley as well as some of the Seed Hatchery team.

Bionanovations, HandMinder, NanOpthalmics, Randall Surgical, Restore Medical and Urova Medical will all be present during the everywhereelse.co conference where attendees, investors and other startups who may be looking to go the medical device route, will get a chance to speak with the founders. Many of whom, uprooted themselves from other cities like Atlanta, and Durham NC to work with the likes of Daisley and the Memphis Bioworks Foundation.

Shawn Flynn, co-founder of Restore Medical Solutions, a company that just raised a $2.5 million dollar Series A round, will speak on a panel at the conference called “Raising Money Everywhere Else”.

Bioworks has already said they plan on running the Zeroto510 program again in 2013 but may change the focus slightly to another medical related vertical that’s exploding in the region.

Memphis Bioworks, which serves as the epicenter for biosciences entrepreneurs, startups and acceleration functions to address three very important areas in a community that thrives with Biosciences innovation. Those areas are: Building Infrastructure, Growing The Workforce, and Promoting Entrepreneurship.

One thing that you rarely hear with an accelerator is that 100% of the teams that built their businesses during the ZeroTo510 program at Bioworks, have stayed in Memphis to continue to grow their businesses. While HandMinder has roots in the Memphis area, the rest of the teams have had at least one co-founder that’s relocated to the area.

Linkage:

More about Bioworks here

More about everywherelse.co The Startup Conference Here

Want to exhibit alongside the ZeroTo510 teams? Click here

Memphis Startup Accelerator ZeroTo510 Sets Record With Over 80% Follow On Funding In Less Than 30 Days

That headline is a true testament to the power of the cohort based ZeroTo510 startup accelerator in Memphis Tennessee. Five of the six startups in their recently graduated class received $100,000 or more in follow on funding from MB Ventures and Innova Memphis.

Four of the startups received follow on funding to continue acceleration of their businesses. Those four companies were:

BioNanovations has developed a device that uses bionanotechnology for rapid diagnosis of bacterial infection.
EcoSurg has developed an environmentally friendly alternative to traditional foam patient positioners used in surgeries.
Nanophthalmics has developed, through the use of nanotechnology, a surgical device to more effectively treat corneal abrasions.
Urova Medical has developed a minimally invasive treatment to address feminine stress urinary incontinence.

“In each case, we believe these four companies have shown the progress, the growth and proof-of-concept that were expected to move to the next phase of funding,” said Allan Daisley, director of innovation and sustainability initiatives for Memphis Bioworks Foundation and program director for ZeroTo510. “It is extremely rewarding to us as an organization, because the funding of four companies exceeds what we considered to be a measure of success when this program was launched.”

The fifth startup to receive follow on funding was Restore Medical. Restore Medical wowed the audience when Co-Founder Shawn Fynn announced during their presentation that they had already secured a purchase order valued at $3.75 million dollars pending 510k approval. In the case of Restore Medical, they decided to skip the acceleration investment and went directly to a Series A round. MB Ventures and Innova Memphis are leading that Series A round with an undisclosed investment, assumed to be more than the $100,000 Restore Medical would have received with the acceleration funds.

Handminder, a startup that has developed a rehabilitation device for people who have suffered a stroke, to regain use of their hands, did not receive follow on funding.

With an 80% success rate, by the standard of “follow on funding” Zeroto510 is the most successful accelerator in Tennessee.

Zeroto510 is a joint venture between Memphis Bioworks with cohort based accelerator programming provided by SeedHatchery a product of LaunchYourCity.

LaunchYourCity CEO & President Eric Matthews said: “The results speak for themselves. 35 companies have entered our incubators because of our efforts. EmergeMemphis has a waiting list for the first time. We have invested time and money in 12 promising startup technologies at our research institutions, two of which have started up as new companies. Over 20 companies have received pre-seed capital of $50,000 or less. Of those 8 have received follow-on capital of $100,000 or greater.”.

In addition to Zeroto510 and SeedHatchery LaunchYourCity has a sister program for independent filmmakers called “FuelFilm”. Also the local music incubator, The Memphis Music Foundation, has replicated some of the LaunchYourCity programming into their music resource offerings.

Linkage:

Check out LaunchYourCity at LaunchYourCity.com

Zeroto510 site is here

Nobody covers the Southeast like we do, more here

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5 Angel List (Angel.co) Startups In Memphis

Please don’t mistake me for an angel.co basher it’s a very useful tool. However, week in and week out we get an email from angel.co with the “trending startups” and they are almost always invariably from Silicon Valley and New York. That’s why we’ve developed this series to highlight angel.co startups from “everywhere else” it’s more of a compliment to angel.co rather than a bash. Oh and by the way it would be super cool if you followed Nibletz on angel.co

Today we’re taking a look at five angel.co listings form Memphis because it’s a big weekend for Memphis startups.

Seed Hatchery

First up is Seed Hatchery they’ve been an instrumental incubator and backer of the thriving startup scene in Memphis, they are also one of the sponsors for this weekends 48Hour Launch Memphis event.

Seed Hatchery was born out of venture capital firm Solidus Company in Nashville Tennessee. Solidus has invested over $112 million dollars in 48 companies over the last 24 years. According to Seed Hatchery’s website, the Solidus Company saw a gap in investment opportunities to stimulate growth in startups. They found that many companies needed a lot less money to start working on their ideas.

In December 2010, Vic Gatto of Solidus, Eric Matthews of Launch Memphis, and Gwin Scott established Seed Hatchery in Memphis to help “seed” growth of early stage startups.

Seed Hatchery held a Demo day last month for their most recent “class” of six startups that went through their incubator.

For more on SeedHatchery visit this site
For more on this weekend’s event in Memphis click here
Follow SeedHatchery on Angel.co here

Friendsignia

Friendsignia is a very intuitive social dashboard that has a lot of people talking. SeedHatchery founder Vic Gatto said of the new social startup:

“They solve the biggest pain point in social media today… too much noise.”

Based on their description alone I’m waiting for my beta invite. What Friendsignia does is pulls social data from Facebook and Twitter and filters out meaningless updates from strangers. Friendsignia delivers the 150 people that matter most to you.

This is perfect for me as I have over 100,000 followers on Twitter and try and follow a good deal back (60,000) however I haven’t been able to look at my “home” timeline in over two years it’s way too noisy, so I use lists and streams from Hootsuite. As their angel.co listing says “For a power user it’s a more efficient social dashboard”.

As with Gatto, for the professional it’s a better way to keep up with business contacts and associates who matter.

Now, not only is Friendsignia a new and more powerful social dashboard but they’ve got this really kick ass blog entry here to talk about what they do.

Find out more & request your beta invite here
Follow Friendsignia on angel.co here

PayTopia

PayTopia is a startup that promises a way to pay online without exposing your financial information. Sure this sounds a lot like PayPal, but so many people are burnt out on post E-Bay merger PayPal that they are jonesing for a new way of using their money online. PayPal complaints are up 70% post merger, with many longtime users switching away from PayPal because they no longer defend the “seller” in most transactions.

PayTopia has taken an innovative approach to paying online. Now your financial information and personal information is no longer at risk. PayTopia allows users to use their email addresses and a pin number to initiate payments.

Merchants submit payments to Paytopia, Paytopia texts the user with an authorization code and then the user gives the authorization code to the merchant to complete the payment.

In addition to providing user safety, it’s quicker than filling out an entire web based payment form.

Find out more about Paytopia here
Follow Paytopia on Angel.co here

StiQRd

I know that loyal readers of nibletz know how I feel about “loyalty and rewards” right about now. We called it right before SXSW that loyalty and rewards were going to replace group couponing and they have. However Memphis based Stiqurd (Stickered) has a couple points up their sleeves.

First off, StiQRd CEO Aaron Prather has a background in restaurants. Before StiQRd he owned his own restaurants. He felt a serious pain point with current loyalty offerings. You could go the cheap route with untraceable punch cards. Or you could spend thousands of dollars, which just isn’t in the margin of a restaurant, to do a swipe card.

StiQRd solves that problem by putting the loyalty and reward piece in the phone.

StiQRd is a QR code based reward and loyalty app for iPhone and Android. On the merchant side they offer a comprehensive dashboard to track visits, purchases and points for their most loyal customers.

As we’ve heard ever so often 15% of the top loyal customers can account for up to 50% of a restaurants revenue. With StiQRd everything is kept in one place, your phone.

StiQRd is currently leading the 1-99 employees category in the social madness competition in Memphis. Voting ends June 19th

Check out StiQRd here at their website
Download the Android app here at the Google Play Store
Check out the iOS app here in the iTunes store
Follow StiQRd on Angel.co

Work For Pie

Work for Pie is a community for open source developers. They describe themselves as a bit like Klout (not sure why anyone would want to do that) and a bit like LinkedIn, but for open source developers.

The social community for open source developers allows developers to collaborate with each other and source each other for help with their projects. Users can also recommend and refer their fellow open source developers.

Their intuitive profile platform highlights not just their biography points but also their coding skills and work history. They also have a point based system based on recommendations and referrals so that if you’re looking for a certain type of developer you can find not just that type of developer but the best developers as well.

Last month Work For Pie closed on a $300,000 round of funding.

Check out Work For Pie on their website here
Follow them on angel.co here