Memphis-based Epicenter raises $40 million for entrepreneurial support

Talk about making a BIG statement.

Epicenter, the non-profit hub of the greater Memphis entrepreneurial movement, just announced that it has raised $40 million to support entrepreneurs in that region. The $40 million included a challenge pledge of $10 million from FedEx Corporation that was committed if Epicenter raised $30 million.

The $40 million in local investment came from philanthropic foundations, economic development organizations, corporations, financial institutions, and individuals. It will be used in a variety of ways including to pilot and scale innovative entrepreneurial programming, provide capital resources directly to entrepreneurs, support local partner organizations that serve entrepreneurs, and add industry experts and infrastructure that support the entire local entrepreneurial community and culture.

Read more about Wednesday’s announcement here.

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