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April 28, 2013 | Tom Ballard

LaunchTN reports first year results

LaunchTN 2-tekno(EDITOR’S NOTE: The following appeared in the weekly newsletter from the Tennessee Department of Economic and Community Development.)

Launch TN Celebrates Successful First Year

180 New Jobs Created, $210 Million in Capital Investments

Started in April 2012, LaunchTN is part of Governor Haslam’s economic development plan to make Tennessee the #1 state in the Southeast for high quality jobs and for entrepreneurs to launch and grow a company. In just one year, Tennessee’s nine regional business accelerators, under the guidance of LaunchTN, provided support to more than 125 early-stage companies, which raised more than $17 million in private capital and created over 180 jobs. In total, more than $210 million in venture capital was invested in approximately 200 Tennessee-based companies in 2012.

Other 2012 milestones:

  • 150 + high-potential startups launched
  • Tennessee research institutions invested over $2.7 billion in research and development: as a result, 24 new startups      launched
  • Tennessee #1 for Global Entrepreneurship Week

Tennessee’s message is being heard loud and clear: there’s no better place in the country to nurture your idea, find support and launch your company. For more information on LaunchTN, visit http://launchtn.org.