This week’s “News & Notes” feature includes a tribute to a leader who moved to a new role, insights from the top executive at a Knoxville-based investor, a new fundraising initiative by a Nashville firm, and an Northeast Tennessee city rising to the top of The Wall Street Journal/Realtor.com “Emerging Housing Markets Index.”
- The University of Tennessee Research Foundation bid adieu to Stacey Patterson, its now departed President, in a tribute in its latest newsletter. You can find the article here.
- In the Fall issue of Three Roots Capital‘s newsletter, President and Chief Executive Officer Grady Vanderhoofven provides: (1) an update on some of the insights he offered in the annual teknovation.biz “Investor Outlook Series” that posted in January; and (2) initiatives that Three Roots is pursuing to address some of the regional challenges. You can find his thoughts here.
- Provectus Biopharmaceuticals Inc. has announced an expansion of its sponsored research program with James G. Krueger, Co-Director of the Center for Clinical and Translational Science at The Rockefeller University. The expansion will focus on investigating the potential for PH-10, a topical formulation of Provectus’ pharmaceutical-grade small molecule rose bengal sodium (RBS) drug substance, to: (1) directly alter the growth and differentiation of human keratinocytes; and (2) block cytokine-mediated signaling that creates different inflammatory skin diseases and may also be important in skin neoplasms. Krueger is also the D. Martin Carter Professor in Clinical Investigation, a Senior Attending Physician, and head of the Laboratory of Investigative Dermatology.
- The annual “KTech Pulse Technology Summit” is this Thursday, beginning at 3 p.m. EDT at Jewelry TV. Registration is free. To sign-up for the event organized by the Knoxville Technology Council, click here.
- Launch Tennessee (LaunchTN ) has announced the names of three individuals selected as #BuildTN Fellows for the current semester. Two of the three come from the University of the South while the third is a graduate student at Vanderbilt University. The program is for undergraduate and graduate students who have an interest in the venture capital industry. Fellows conduct market research on a chosen industry vertical, taking on the role of domain expert within LaunchTN for deals in that industry. They’re also responsible for due diligence for early stage investments, driving deals forward with research activities including but not limited to bottoms-up market sizing, financial analysis, and supporting the creation of investment briefs and memos for investment committee consideration. Click here to meet the three newest Fellows.
- Nashville-based pre-seed healthcare innovation fund Jumpstart Foundry (JSF) has launched a fundraising round for the company’s ninth Fund, but the first of its funds as a publicly-marketed fund under 506(c) status. Concurrent with the announcement, JSF also unveiled a redesigned website with an all-new page built with prospective investors in mind. Through the new JSF online experience, site visitors can view an informational video featuring JSF leadership and learn about the JSF investment process. “The venture capital space is rapidly changing. JSF is staying on the cutting edge by going public with the JSF 2023 fund, which allows us to expand the brand and lower the barrier to healthcare venture investing,” said Haley “Zap” Zapolski, Managing Director of JSF. Click here to read the news release.
- Spiny.ai, a provider of a content analytics, publisher intelligence, and advertising technology platform, raised $2.5 million in funding in a round led by Nashville Capital Network. The company intends to use the funds to grow its team and build out key product features, such as subscription analytics and multimedia tools.
The JumpFund participated in a $35 million Series B round for Resilia, a New Orleans- and New York City-based start-up. The round was co-led by Panoramic Ventures and Framework Venture Partners. Returning investors include Mucker Capital, Callais Capital, Cultivation Capital, Engage Ventures, SoftBank Group’s SB Opportunity Fund, Kimble Ventures, and Fearless Fund. The company helps nonprofits increase capacity and enables funders (charities, private foundations, corporations, and, government) to scale impact and provide on-demand technical assistance to their partners.
The Tennessee Manufacturers Association is bringing its “Manufacturing Road Show” from 7:30 to 9 a.m. November 9. The event will be held at the PIE (Partnerships in Industry & Education) Center, 2215 Parker Street. Registration is free at this link.
From Johnson City:
- After placing #3 nationally in the second quarter of The Wall Street Journal/Realtor.com “Emerging Housing Markets Index,” Johnson City is now ranked at the top of the list. According to this article (subscription required), “Buyers’ focus on affordability benefited Johnson City. The metro area’s median listing price was $379,000 in September, up 27 percent from a year earlier, according to Realtor.com, while median list-price growth nationwide was 14 percent. Johnson City’s median listing price was $48,000 below the median listing price nationwide last month.” The Index ranks the 300 biggest metro areas in the U.S. In addition to housing-market indicators, the index incorporates economic and lifestyle data, including real-estate taxes, unemployment, wages, commute time and small-business loans. Much of the attraction comes from remote workers and retirees who are drawn to the community for its low cost of living and quality of life.
- The monthly “Appalachian Creative Marketing Meetup” from FoundersForge will begin at 6 p.m. Tuesday at the Johnson City Chamber of Commerce, 602 Sevier Street, Suite 101. The topic is “Cultivating a Thriving Creative Community.” Click here to register.