Oak Ridge startup competes in this year’s “2014 $1M Global Action Challenge” in Nashville

Oak Ridge startup Clodico competed in this week’s “2014 $1M Global Action Challenge” in Nashville at its Global Action Summit.

The competition is billed as an “investment opportunity to identify breakthrough prototypes, technologies or early stage ventures that hold promise for transformative impact on health and food and are scalable business enterprises.”

To read the full story from Teknovation.biz, click here.

Source: Tom Ballard, Teknovation.biz

Startup Day returns as Knoxville’s entrepreneurial culture is growing

The Knoxville News Sentinel featured Startup Day 2014 this weekend with a story on the event and the November 7 Knoxville Entrepreneur Roundtable with moderator Carly Harrington, Knoxville News Sentinel, and panelists Chuck Morris of Morris Creative Group and Cirkel, Patrick Hunt of Fiveworx, Mary Shafer Gill of ARiES Energy and Tom Ballard of Pershing Yoakley & Associates and PY Analytics.

Read the full story here.

Source: Carly Harrington, Knoxville News Sentinel

The Entrepreneurship Buzz: A summary of the Knoxville Entrepreneur Roundtable through the eyes of a University of Tennessee student

By Cameo Jonas, University of Tennessee student, who attended the Knoxville Entrepreneur Roundtable on November 7

Knoxville is buzzing with talk about entrepreneurship. The city has become an exciting and engaging environment for startups to come and succeed.

To discuss this new landscape, the Knoxville Entrepreneur Center hosted its first Friday Fanfare on November 7. The Fanfare was dedicated to a Knoxville Entrepreneur Roundtable, which also served as the kick-off to Startup Day on November 20.

The Knoxville News Sentinel’s Carly Harrington moderated the event. Panelists included: Chuck Morris of Morris Creative Group and Cirkel, Patrick Hunt of Fiveworx, Mary Shafer Gill of ARiES Energy and Tom Ballard of Pershing Yoakley & Associates and PY Analytics.

The panelists discussed how startup companies succeed and what factors are influencing entrepreneurship in the area. They all agreed that startups need funding to succeed. However, there are a lot of factors that go into receiving the necessary funds.

Hunt described fundraising for startups as a “numbers game. There are a lot of reasons for [people and corporations] not to invest and very few reasons to invest. You have to find the right timing and fit,” he said.

Even though fundraising for a startup can be a daunting task, Ballard stated that it is important to always remain positive. Gill also suggested obtaining clients that could someday turn into investors.

Other advice the panelists gave to the audience: have a mentor, find local customers, and “embrace the idea of failing fast.”

During the session the panelists also discussed how Knoxville could grow into becoming the South’s mecca for entrepreneurship. According to the panelists, for this to happen, entrepreneurs need to recognize the culture of the area and take advantage of it.

The region has a lot of strong assets like the Great Smoky Mountains and the numerous notable companies that are based in East Tennessee, like the Oak Ridge National Laboratory, the University of Tennessee, and Alcoa, to name a few.

Ballard stated, “The region just needs to set a brand that can entice people to come here. By doing this, we can [also] attract and maintain the talent we need to draw even more companies to the area.”

Entrepreneurship in the area will continue growing and changing, making Knoxville a great place to have these conversations. This will hopefully lead to Knoxville becoming the South’s mecca for entrepreneurship.

Knoxville Entrepreneur Roundtable set for Friday, November 7

The Knoxville Entrepreneur Center will host a Knoxville Entrepreneur Roundtable on Friday, November 7 from 3:30 p.m. to 5 p.m.

The Roundtable will be a candid conversation about the state of entrepreneurship in the Knoxville region with Chuck Morris, Morris Creative Group and Cirkel; Patrick Hunt, Fiveworx; Tom Ballard, PYA and Mary Shaffer Gill, ARiES Energy.

Carly Harrington of the Knoxville News Sentinel will moderate the Roundtable.

The event is open to the public and is a pre-First Friday activity.

Click here to learn more and/or register for the event.

Knoxville well represented at inaugural “Reverse Pitch”

Knoxville and Northeast Tennessee were well represented at Launch Tennessee’s inaugural “Reverse Pitch” event last week in Chattanooga.

Two Knoxville companies – AC Entertainment, in conjunction with Aloompa, and DeRoyal – were two of the nine companies that “pitched” specific needs they hoped the more than 150 attending entrepreneurs and technologists would be interested in addressing.

The term “Reverse Pitch” refers to the fact that established companies are presenting needs, not the typical “pitch” where start-ups are presenting their ideas to potential customers and investors.

In kicking-off the program, Launch Tennessee’s Charlie Brock noted that the event was the state’s first “Reverse Pitch.”

A number of Knoxville entrepreneurs and technologists were in the audience, including Jim Biggs and Jonathan Sexton of the Knoxville Entrepreneur Center, DMG Bluegill’s Parker Frost, Survature’s Jian Huang and Audio Hand’s Haseeb Qureshi, to name a few.

Read the full story here.

Source: Tom Ballard, Teknovation.biz

Street Jelly competing in Chase Bank’s “Mission Main Street” program

Street Jelly’s Frank Podlaha has entered Chase Bank’s “Mission Main Street” grant program.

The Knoxville-based start-up is competing to be one of 20 small businesses to receive $150,000 each from the $3 million pool. The 20 grants will be awarded in January.

Read the full story here.

Source: Tom Ballard, Teknovation.biz

Beth Papanek hopes to earn PhD, exit her first startup in 2016

Tom Ballard, Pershing Yoakley & Associates, P.C.’s Director of Innovation and Entrepreneurial Initiatives, published an article on Teknovation.biz about Beth Papanek, who is scheduled to deliver a Power Pitch at Startup Day 2014.

By the middle of 2016, Papanek hopes to achieve two major milestones – earn her doctorate from the University of Tennessee and exit her first start-up.

The Illinois native is one of the 80 students who are part of the Bredesen Center for Interdisciplinary Research and Graduate Education, a joint initiative of UT and Oak Ridge National Laboratory (ORNL) focused on attracting the nation’s brightest doctoral students in energy science and engineering.

Papanek is in the second class admitted, having earned both her Bachelor’s and Master’s Degrees at the University of Illinois in Urbana/Champaign. A strong interest in UT’s work in biofuels led her to apply for and be accepted into the new program.

Papanek says she’s “so privileged” to be able to work as a graduate student with some of the world’s leading scientists at ORNL. “I’m so connected,” she says, adding that her experiences are “amazing for career development.”

When the concept was still on the drawing board, the planners hoped that some fraction of the Bredesen Center students would pursue entrepreneurship, working with scientists at either UT or ORNL to commercialize the technologies on which they did their research.

“The Bredesen Center encourages us to pursue interests in either entrepreneurship or policy,” Papanek explained. The entrepreneurial track was a natural for her, having been part of a student team at Illinois working on two technologies from the Mayo Clinic.

“That started it (the entrepreneurial bug),” Papanek says. Since arriving here 18 months ago, the interest has only grown, thanks to involvement with many of the region’s entrepreneurial support organizations and ORNL’s Partnerships Directorate.

Papanek is focused on her research interest in bioenergy and a process called sonoporation that uses ultrasonic sound frequencies to modify the permeability of cells. The result of the process is the creation of genetically-mutated microorganisms that help optimize the process of making ethanol.

Those who attended last year’s “Start-up Day” in Knoxville saw Papanek present a concept for a company that she was exploring. It is named SonOPore for the ORNL technology on which it is built. This year, Papanek will present a Power Pitch for a new company she is exploring, Nanofermentation.

Source: Tom Ballard, Teknovation.biz