Memphis-based Start Co Brings Entrepreneurship to Everyone

There’s a lot of buzz in the startup world about how startups stimulate job growth. A healthy company that employs dozens to hundreds of people works wonders for a local economy and culture. See Zappos and Las Vegas.

With that in mind, a lot of organizations are popping up in different regions with the goal of encouraging entrepreneurship and stimulate economic growth. We’ve written a lot about Start Co, recently about their partnership with the Ohio-based Jumpstart America.

Yesterday, Start Co and Jumpstart America unveiled a plan to increase entrepreneurship in the Memphis area. Called MEMx the plan includes several regional leaders in business and the local community.

Memphis regularly lags behind the rest of the nation in economic indicators, and much of the money injected into the city are “poverty dollars.”

Start Co and their partners are determined to change that.

“MEMx plan partners have an aligned vision to advance entrepreneurship in Memphis through this new approach that encourages an entrepreneurial mindset and appreciation across the community,” Start Co’s co-president Andre Fowlkes said in a statement. “To help Memphis establish the building blocks of a thriving economy, it’s absolutely critical that we’re deliberately inclusive in our efforts.”

MEMx will seek to build on Memphis’ unique strengths and opportunities, find the region’s entrepreneurial potential, and continue to learn how to best grow the Memphis economy. The next steps include fundraising and expansion of some current initiatives already in place, like the local accelerators, which are currently accepting applications.

In the startup tech world, we often get very focused on individual companies and their products. Start Co is unique in that they are thinking about how to best help their city first and are leveraging local tech entrepreneurs to do it.

At Nibletz, we are very familiar with the city of Memphis and the Memphis startup scene. It’s a great city, with so many exciting growth opportunities. In recent years the food scene and the live music scene have both exploded, bringing health and vitality to areas that many people had given up on. The success of MEMx could help Memphis grow its economy as quickly as its culture has grown in the last few years.

By the way, there’s another great startup event happening in Memphis this spring:

The “Must-Attend Conference for Entrepreneurs” Everywhere Else Tennessee is headed back to Memphis this Spring. We’re releasing the first 50 tickets for 50% off exclusively to our newsletter subscribers on Jan 13th. Don’t miss your shot by signing up here!

JumpStart Inc Announces Its Next Partnership, Heads to the Mid-South

JumpStart Inc. has an impressive record. Founded in 2004, they have grown an ecosystem in northeastern Ohio basically from scratch. The numbers look something like this:

$29 million in funding to pre-seed stage companies
1000s of hours of human capital to more than 400 companies
3,000 new jobs

In 2010 JumpStart received funding from outside sources to take the lessons learned in Ohio to other parts of the country. Since then they have partnered with 15 other regions to grow local startup ecosystems and create jobs. JumpStart’s approach involves working with local leaders to identify a region’s strengths and build from there.

They have a presence in regions like upstate New York, Baton Rouge, Detroit, and central Georgia.

And, now they’re coming to Memphis.

“After two years of discussions, we’re excited to kick off this collaboration with JumpStart,” co-president of Start Co Andre Fowlkes said in a press release. “Working with JumpStart further supports our mission of relentlessly building companies and founders for the advancement of Memphis’ entrepreneurial ecosystem.”

We write a lot about Memphis here at Nibletz. Part of that is because we’re based here, but it’s also because we believe in the possibilities in this city. Currently the city has a 9.5% unemployment rate, the highest of all metro areas of more than 1 million people. That number is pretty bleak, but entrepreneurs like ones that Start Co helps launch are a bright spot in the city.

Memphis also has a history of racial tension, which probably comes as no surprise. Yet the Fowlkes and co-president Eric Mathews know that to really pull Memphis employment up, everyone needs to engage. With their history in Cleveland, the folks at JumpStart have experience in reaching out to diverse groups of people and encouraging entrepreneurialism.

“2/3 to 3/4 of our talent isn’t even in the game,” said Mike Mozenter, President of JumpStart’s regional consulting arm, at a press luncheon yesterday. “How can that be good for any of us?”

So, how do JumpStart and Start Co plan to grow jobs in Memphis?

Like any good startup, they are still in the customer discovery phase of the project. Over the next few months, they will be talking to local leaders, universities, and entrepreneurs to begin to figure out what Memphis needs. At the end of the discovery phase, they hope to have a 5-year plan that will accelerate Memphis’ growth as a leading startup ecosystem.

The Accelerate Memphis Project hopes to secure at least $50 million in investment capital and another $15 million for technical assistance, support, and pre-seed investment money in the next 5 years.

Memphis and JumpStart are a natural partnership, and both expect great things for Memphis in the coming years.

Mozenter said in a statement: “We chose to work with Start Co because of their track record in supporting high growth technology startups in the Memphis market. Our organizations have complementary missions, and I have been impressed with the resources and support that Start Co offers startups.”

Check out the JumpStart Inc and Start Co websites to learn more about those organizations.

Start Co Is Bringing NewMe Accelerator Tour To Memphis June 28-30

The NewMe accelerator program is a critically acclaimed accelerator in San Francisco that specifically targets women and minority startups and founders. They launched their Silicon Valley program in June of 2011, and recently announced an abbreviated “pop up” accelerator tour, coming to cities across the country.

The NewMe pop accelerator will make it’s way to Memphis June 28-30 and be housed at the FedEx Institue of Technology, on the campus of the University of Memphis.

The three-night event June 28-30 features one-on-one coaching from NewME experts, a two-part workshop titled “The Art of the Pitch” that will provide the secrets to a perfect pitch and standing out among other founders. The weekend culminates with “Demo Day,” a night where startups will network with key players in Memphis’ tech scene, special guests from Silicon Valley, and ultimately pitch their idea to a panel of judges that consists of local and Silicon Valley investors.

They’ve already held the pop up program in Miami and Washington DC. In fact, Zoobean, the Washington DC pop up winner, has closed a $500,000 seed round led by Mitch Kapor.

In addition to Memphis Tennessee, the NewMe Popup accelerator will also be held in Detroit, Chicago, Atlanta, Durham, Austin, New York, Kansas City, Los Angeles and Oakland.

Participants in the NewMe popup accelerator in Memphis, or on any other city stop will get one-on-one coaching from Silicon Valley business leaders, hands on workshops, and the opportunity to pitch their idea to local and Valley-based investors with the chance to win $45,000 worth of prizes from our sponsors and the opportunity to participate in the NewME Accelerator in San Francisco.

“We’re excited about NewME’s mission and the important work they are doing to accelerate entrepreneurs across the country. Our mission with Google for Entrepreneurs is to grow entrepreneurial communities and equip them with the resources and technology they need to tackle big ideas and build amazing companies,” said Mary Grove, Director of Global Entrepreneurship Outreach at Google one of the key sponsors for the NewMe Accelerator. “We’re truly excited to be teaming up with NewME to bring this series to Memphis and can’t wait to see the big ideas that come from the teams here.”

Start Co. is eager to welcome NewME to Memphis. “We’re excited that Memphis was selected for this exclusive opportunity,” said co-president and CEO Eric Mathews. “It’s a privilege to participate as their local community partner.”

You can apply and find out more about NewMe here and Start Co here.

Are you working on your pitch deck? Check out this Pop!