Southeast Shoutouts | Georgia, South Carolina and Virginia are in the spotlight
Topping the Southeast news is an announcement by one of the largest health systems in Georgia that it has launched a $100 million venture fund to shape the future of healthcare by creating better care and market value.
From Atlanta, GA:
One of the largest health systems in Georgia has announced the launch of a $100 million venture fund to shape the future of healthcare by creating better care and market value. Named Catalyst by Wellstar, the first-of-its-kind innovation company and venture firm is focused on Wellstar’s mission to enhance the health and well-being of every patient it serves.
The fund is expected to make more than 50 direct investments in early-stage start-ups at the Pre-seed to Series A levels over the next five years and invest indirectly in more than 150 other start-ups through limited partner investments with venture and growth equity funds with proven track records of success. These investments will be made in companies that align with the six focus areas of Catalyst by Wellstar: (1) customer experience; (2) data, analytics, and security; (3) digital health; (4) future of work; (5) supply chain, logistics, and mobility; and (6) sustainability.
As noted in a teknovation.biz article in today’s edition, one of the first four investments from Catalyst by Wellstar was in Durham, NC-based 410 Medical’s LifeFlow rapid infuser device helps save the lives of critically ill patients suffering from life-threatening bleeding (hemorrhagic shock).
From Spartanburg, SC:
Community leaders in this neighbor of Greenville – they share an airport – are adopting the same playbook that transformed a crime-ridden area of that city’s West End into a thriving business district as a result of a downtown baseball stadium – Fluor Field – that was built more than a decade ago. It’s also a similar game plan that Knoxville has adopted with the relocation of the Tennessee Smokies to an area just east of the Old City.
In the case of Spartanburg, a consortium of public and private sector partners has announced that a new baseball stadium is planned for construction in downtown Spartanburg and would be the future home of a Minor League Baseball affiliate of the Texas Rangers, currently playing as the Down East Wood Ducks in Kinston, NC. The partners include the City of Spartanburg, Spartanburg County, State of South Carolina, OneSpartanburg, Inc., The Johnson Group, and Diamond Baseball Holdings, an organization that owns and operates minor league clubs affiliated with Major League Baseball and recently acquired the Down East Wood Ducks.
According to a story in the Charleston Post and Courier’s Greenville edition, Greenville Mayor Knox White said Fluor Field gets 90 percent of the credit for revitalizing Greenville’s West End, which used to be a high-crime area filled with vacant lots. He added that the key to success in Greenville was to combine the stadium with condos and restaurants. That created a steady supply of foot traffic plus an influx during events. The number of people living and visiting the section of Greenville made it attractive to other business owners and apartment builders who have reshaped the area.
From Ashland, VA:
The Dominion Energy Innovation Center (DEIC) has announced the largest cohort thus far for its “DEIC Accelerate” program. Beginning later in June and running into October, the newest cohort is comprised of 10 start-ups working on solutions ranging from electric vehicle (EV) charging to power line improvements. Companies accepted into the accelerator will spend four months receiving mentorship and developing pilot opportunities with DEIC’s partner network, led by Dominion Energy.
- ALD Technical Solutions, which is developing a revolutionary composite wrap technology to improve the lifespan and performance of both power lines and poles;
- ChargerHelp!, the first nationwide EV charging operations and maintenance service provider that uses proprietary technology to deliver Reliability-as-a-Service;
- Datch, a technology platform that leverages artificial intelligence and frontline workers’ natural communications to increase work management output, improve data quality, and interact directly with systems of record;
- ElectroTempo Inc., an Arlington, VA-based company whose software helps future-proof EV charging and grid investments by providing detailed and rapid EV charging demand projections to enable optimization of both cost and utilization;
- Independence Hydrogen, based in Ashburn, VA, is described as the first decentralized hydrogen production, storage, and delivery platform that recycles vented H2 from industrial processes and upcycles it into fuel cell grade standard hydrogen;
- Infravision, a firm originally launched in Australia to successfully increase grid capacity, automate powerline construction, and perform maintenance with aerial robotic and software solutions;
- SoMax Circular Solutions, which combines a novel hydrothermal carbonization technology to turn solid waste streams into hydrochar and biosolution;
- SparkCharge, the first company to create a mobile EV charging system and network, was founded to expedite EV adoption and accessibility for everyone;
- Sparkfund, an energy solutions platform that brings multiple services together to drive customer adoption of advanced energy technologies including EV infrastructure, efficiency improvements, and resiliency investments; and
- Trova Commercial Vehicles Inc., based in Dublin, VA, is a supplier of innovative low-cost solutions for the industrialization and market acceptance of battery-electric commercial vehicles.