Launch Tennessee adds fintech and consumer goods to its focus areas
Funding for the expansion from five to seven mentor programs came as the result of a "Build to Scale" grant from the U.S. Economic Development Administration.
Speaking of Launch Tennessee, the statewide organization announced on Monday that it had selected two organizations to operate its newest mentor networks. One is in Nashville, the other in Chattanooga.
- The Nashville Entrepreneur Center, already one of Launch Tennessee’s network partners as one of seven regional entrepreneur centers, will manage the new financial technology (fintech) mentor network on a statewide basis. Fintech refers to using new technology to improve the delivery and use of traditional financial services.
- Chattanooga’s Proof, an organization that gained visibility with its “Restaurant Recovery” program during the height of COVID-19, will manage the new consumer packaged goods. They are defined as items used daily and require routine replacement, such as food, beverage, clothes, makeup and household products. Proof built on the success of its restaurant industry-focused program with a second initiative named the “Consumer Goods Accelerator.”
“This allows us to expand the amount of resources and support for startup companies in these industries,” Ashlin Smith, Launch Tennessee’s Partnerships and Development Manager, said. “And we’re building on what we’ve learned from our current industry partners, so this really elevates services across Tennessee.”
Funding for the expansion from five to seven mentor programs came as the result of a “Build to Scale” grant from the U.S. Economic Development Administration. The existing mentor networks focus on advanced energy, agriculture, biotech/life sciences, mobility, and veterans.