LaunchMemphis makes big impact promoting, uniting local entrepreneurs

Group's efforts

By James Dowd (Contact), Memphis Commercial Appeal
Sunday, January 18, 2009

The leaders at LaunchMemphis are all smiles these days -- and with good reason.

The startup grass-roots effort aimed at promoting the local entrepreneurial scene is coming off an impressive inaugural year, and organizers expect even brighter days ahead.

Stan Carroll/The Commercial Appeal

Eric Mathews (center), president of LaunchMemphis, pictured with Board of Directors Sridhar Sunkara (from left), Harry Brown, Anna Ivey, Gwin Scott, Marc Diaz, Douglas Scarboro and Lori Turner.

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Founded in 2008, LaunchMemphis has completed an economic study showing that the nonprofit group created nearly $500,000 in positive impact last year on the Memphis community.

And the group's organizers are thrilled about the launch that soared.

"We've clearly measured where we were last year at the beginning and where we expect to be in the coming months," said Douglas Scarboro, director of Community Engagement for the Leadership Academy and one of the founders of LaunchMemphis. "We've calculated the number of hours our people invested and projected the financial impact on the community and we believe it's substantial."

Building on an investment of $16,000, LaunchMemphis produced nearly $300,000 in intangible impact, including volunteer-supported connectivity opportunities, training and educational programs.

Tangible impact grew to more than $290,000, including more than $160,000 in volunteer hours and an operating budget of about $30,000.

"In less than a year we've proven that LaunchMemphis is an efficient engine to promote entrepreneurial efforts and that money invested in this group is money well spent," said Eric Mathews, who works with Mercury Technology Labs and is another of the LaunchMemphis founders. "We expect many of the seeds we planted in 2008 to germinate this year and enrich our community."

Founded by about a dozen young business professionals, LaunchMemphis was designed to energize, promote and unite the entrepreneurial community. The group sponsored a number of networking events, as well as a weekend program during which participants created a company.

To date, six startups have been generated or accelerated as a result of LaunchMemphis.

Up next, the group will offer LaunchMemphis Boot Camp from 8:30 a.m. to 1 p.m. Jan. 31 and from 8:30 a.m. to 3 p.m. Feb. 7.

The program will be an intensive, two-session course in entrepreneurship.

Experts will discuss how to start and manage new ventures, as well as offer tips on ways to secure funding. Cost is $30 for the first session and $50 for the second, or $60 for both, and lunch is included.

"We're working to put Memphis on the map in a new way," said Lori Turner, managing partner of Red-Rover Company and a founder of LaunchMemphis. "This is a way to support and train upcoming entrepreneurs, which will greatly benefit Memphis."

Local attorney and LaunchMemphis co-founder Harry Brown agreed.

"There wasn't really anything like this in Memphis before we formed LaunchMemphis, and our success proves its value," Brown said. "Everything we do is innovative, and we want to hang onto that edge."

For information on the organization and upcoming events, visit launchmemphis.com.

-- James Dowd: 529-2737

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LaunchMemphis events

January 31: Boot Camp for Beginners with Ideas

February 7: Boot Camp for Advanced Business Plans

March 7: SocialDevCamp

May 29-31: Startup Weekend 2

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