This is the second part of this week’s “News & Notes.” There is a specific focus on Middle Tennessee with a touch of North Alabama.
The Franklin Innovation Center in the Franklin Grove LeHew Mansion has issued a call for applicants for remaining vacant office spaces in the entrepreneurship hub, which opened in July. The facility is operated by Williamson Inc. in collaboration with the property’s owner, The Heritage Foundation of Williamson County.
- Project Admission, a Nashville-based technology company specializing in innovative ticketing technologies, raised $9 million in seed funding. Led by Chief Executive Officer (CEO) Stephen Glicken, the start-up provides a platform that works directly with the live event industry to provide monetizing features and opportunities around the life of the ticket, adding value and simplifying the commercialization of live events. Current clients include the New Orleans Pelicans, Cleveland Cavaliers, Minnesota United FC and Portland Timbers.
- Hayley Hovious, President of the Nashville Health Care Council for the past six years plus, will be leaving the position February 18 to join Echo Health Ventures. Jamie Lee, the Council’s current Chief Operating Officer, will assume the duties as Interim President. More information can be found at this link.
- Silicon Ranch Corporation, one of the largest independent power producers in the U.S., announced that it has raised $775 million in new equity capital. Manulife Investment Management, on behalf of Manulife Infrastructure Fund II and John Hancock, led the round with a ~$400 million commitment, its first investment in the company. Manulife Investment Management was joined in the round by existing Silicon Ranch shareholders including Shell, TD Greystone Infrastructure Fund (Global Master) L.P., and Mountain Group Partners. Subject to regulatory approvals, the transaction is expected to close in Q1 2022.
- Arlisa Armstrong, who has spent nearly three decades working in Rural Development in Western Tennessee, has been named State Director of Rural Development for the U.S. Department of Agriculture (USDA). In that role, the Haywood County native is responsible for promoting the mission and strategic goals of USDA’s Rural Development programs and provide key leadership to develop and support a productive, diverse, and inclusive state workforce.
- The Los Angeles Times recently spotlighted the massive move of individuals from California to the Nashville area. According to the article, “Transplants from Los Angeles, San Francisco and other parts of the state say they’ve discovered a place that incorporates their favorite parts of big-city life on a smaller scale.” The article notes that the “migratory shift coincides with multinational businesses once based in the Golden State relocating their U.S. headquarters to the Nashville area or opening large offices there. Nearly 12,000 people left California for Tennessee in 2019, according to U.S. Census Bureau data, up from roughly 9,600 in 2018 and about 7,900 in 2017.”
- Cumberland Pharmaceuticals Inc., a specialty pharmaceutical company, has entered into and closed on a definitive agreement to acquire the U.S. Food and Drug Administration-approved oncology-supportive care medicine SANCUSO® from Kyowa Kirin Inc. the U.S. affiliate of Japan-based Kyowa Kirin Co. Ltd. SANCUSO is the first and only FDA-approved prescription patch for the prevention of nausea and vomiting in patients receiving certain types of chemotherapy treatment.
- Endeavor Business Media has announced the acquisition of ISE, a leading provider of solutions and education in the telecom/ICT (information and communication technology) industry. Including ISE Magazine and ISE EXPO, the acquisition adds a unique component to Endeavor’s Advanced Technology Group, complementing its existing brands in the information communications market.
From North Alabama:
- Launch 2035 is a new regional partnership focused on Limestone, Madison and Morgan Counties in North Alabama. The organization is accepting applications for the “Singing River Trail Launch Tank,” described as a “Shark Tank” style event offering prizes and recognition for talented entrepreneurs from eight counties including Colbert, Jackson, Lauderdale, Lawrence, Limestone, Madison, Marshall, and Morgan.
- A Chattanooga native and graduate of the University of Tennessee, Knoxville has been named Associate Director of NASA’s Marshall Space Flight Center in Huntsville. Rae Ann Meyer, most recently Deputy Manager of Marshall’s Science and Technology Office, will help manage the center’s 7,000 on- and near-site civil service and contract employees and help oversee an annual budget of approximately $3.6 billion. Meyer will provide executive leadership across Marshall’s mission support areas as well as the center’s diverse portfolio of human spaceflight, science, and technology efforts, which touch nearly every mission NASA pursues.
From Bunker Labs:
Bunker Labs is accepting applications for its “Breaking Barriers in Entrepreneurship” virtual workshop series. The eight-week program, which begins January 17, is designed to facilitate business growth and support within Asian, Black, Latinx, and female veteran and military spouse communities. More information can be found here. The CEO of the national organization is Blake Hogan, who resides in Nashville, and Bunker Labs’ Director of Partner Engagement is Brittany Burgess, a former staffer with Launch Tennessee.