LaunchMemphis seeks to match investors with local entrepreneurs

Memphis Business Journal - by Einat Paz-Frankel Staff writer

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There's talent and money in Memphis, but they don't always meet.

LaunchMemphis, a group of local technology leaders, aims to change that by connecting investors to startup companies and Memphis entrepreneurs. The group says many local venture capitalists invest in companies outside Memphis, which is part of the reason why many brilliant ideas born in Memphis never make it to market.

In a series of events starting May 8, LaunchMemphis will attempt to engage both entrepreneurs and investors in advancing technology locally.

"When growing a successful science or a technology-based company, you can find the right ingredients within the grassroots infrastructure of LaunchMemphis," says venture capitalist Eric Mathews, principal of Mercury Technology Labs LLC, who co-created LaunchMemphis with attorney Harry Brown. "From finding a new management team member to tracking down funding, the events organized can help entrepreneurs take their idea from the back of a napkin to the next level."

The most significant event for those entrepreneurs seeking funding, the LaunchMemphis Early Stage Investment Forum, will take place June 9 at the University of Memphis FedEx Institute of Technology. Applications for funding -- or, rather, for the opportunity to pitch your idea to investors at the forum -- will be accepted through May 16.

Lori Turner, managing partner at The RedRover Co. and one of the founders of LaunchMemphis, says there are two types of applications: One is for seed funding of under $100,000, intended for entrepreneurs who "literally have an idea on a napkin or a very sketchy idea"; the second track will focus on more advanced ventures of more than $500,000 and is intended for companies with a solid prototype.

About 12 investors have already signed up for the forum.

"It's not for all entrepreneurs, it's not for the beauty salon down the street," she says. "While Memphis needs all kinds of entrepreneurs, our niche is science and technology startups."

LaunchMemphis

Entrepreneurial consortium
Address: 516 Tennessee, Suite 133
Web site: http://www.launchmemphis.com/

ep@bizjournals.com | 259-1764

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