Thursday, December 08, 2011
Vanderbilt University School of Engineering Dean Ken Galloway will step back into faculty ranks next year, and will be succeeded by Philippe Fauchet of the University of Rochester, details here.
Tuesday, December 06, 2011
Harry Jacboson and colleagues have created Fund II, with a goal of $40MM, to be invested toward more disruptive healthcare businesses. Read about it here.
Friday, December 02, 2011
Harry Jacobson, M.D., head of Healthcare Investment Group, a consortium of funds, announced adding Duncan Dashiff, formerly of Morgan Keegan, et al, to his team. The investment banker has done plenty of healthcare and health IT deals. Story here.
Monday, November 28, 2011
Saturday, November 26, 2011
The AP (via Knoxville News Sentinel) compares industry talk of 'crisis' if Obama Administration enviro reg's are implemented, yet in many cases denies adverse material impact on their bottom lines from such actions. True, says AP, the future of the regs is uncertain. Story here.
Tuesday, November 22, 2011
'Sure hope you're an engaged reader of VentureNashville for startup, commercialization and investment news and features, and that you'll Like our FB page, the first chance you get! Many thanks, Milt
State ECD Commissioner Bill Hagerty is likely within 3 weeks or so to announce criteria for investors applying for a share of the nearly $30MM the State plans to make available for co-investment, in an initiative designed to increase early-stage capital. Tennessee Technology Development Corporation will serve purely as non-judicial administrator of the Hagerty-designed program. Here's an earlier related story on other items in Hagerty's portfolio.
One of our most-read recent stories: This panel calls the question: If you're an entrepreneur, why are you still sitting there still 'thinking about' starting a business? Tough love from Nashvillians who've been there. Read about it here.
Wednesday, November 02, 2011
Monday, October 31, 2011
Tom Ballard, long in the senior ranks of ORNL and UT, is headed for an accounting and consulting firm that's eyeing entrepreneurial startups as clients. Read about it here.
Entrepreneurship isn't for the faint-hearted, and sometimes a job's a better course. Read about this Nashville panel's discussion here.
Friday, October 28, 2011
VentureNashville readers have been generous in their comments and suggestions. Our recent VNC survey asked what you'd like, going forward. Your answer was, essentially: More! and you offered specifics. Partly because of that feedback, we're closer to a decision about coming out of our 'prolonged beta' and possibly launching an added VentureTennessee layer of coverage and services. We'd like to hear more of your thoughts on this idea or others, right away, either here or by email to milt at venturenashville com. -- Many thanks, Milt Capps
Thursday, October 27, 2011
From Huffington Post reporters, a sobering looking at the continuing concentration of wealth and, hence, opportunity in the world's foremost Opportunity Society, right here.
Wednesday, October 26, 2011
Bill Hagerty, ECD commissioner under Gov. Bill Haslam, has a long and growing economic-development to-do list. Notes here.
Friday, October 21, 2011
Criterion Holdings got some TNInvestco-bred money via XMi High Growth Development Fund, and will pursue buying security firms, the CEO told VNC. Read more here.
West Health Investment Fund, a new private-equity venture focused on improving the affordability of healthcare services, has invested in Nashville-based ChangeHealthcare. Read more here.
MyWerx, the Nashville-based IP-management software provider, and Cumberland Center have joined to create iExchange, to enable technology commercialization from the state's cooperating universities. Read more here.
Economist Christian Ketels (left) laid-out a path toward regional collaboration for innovation and prosperity, during his presentation Oct. 20 to an audience assembled by Cumberland Center. Read more here.
Tuesday, October 11, 2011
Founder/CEO Steve Hau, 39, needs to be convinced he can adequately staff ShareableInk, a breakthrough technology company, with world-class engineers in Nashville. Read it here.
Saturday, October 08, 2011
Galen Partners, the private-equity firm based in Stamford, Conn., is the 2012 healthcare vertical sponsor for Nashville Entrepreneur Center. Read more here.
Monday, October 03, 2011
LifeScienceTN, the bioscience trade association led by Joe Cook Jr. of Mountain Group Capital, today released a report of progress within the sector. The document is here.
TNInvestco and other Tennessee investors have recently invested in Atlanta Catheter Therapies, MedCenterDisplay, Sponsorpitch and Industrial Ceramic Solutions. Read about it here.
Friday, September 30, 2011
They're a long way from the finish line, to be sure, but advocates and backers of 'Pantheon Park' say they can create a business and performance venue in Davidson County that will attract and retain entrepreneurs, Creative Class members, performers, engineers and others. Read about it here.
James Stover (left), after 3 years at COO at Tenn. Technology Development Corporation, is leaving for a new molecular-biology startup, backed by TriStar and Limestone TNInvestcos. Read about it here.
Tuesday, September 27, 2011
Larry Foster's doing a lot of right things with his S2 Interactive startup, which has technology to keep surgeon's tools coming in proper order during complex surgeries.. next, he pitches a venture forum in Memphis. Here it is.
Chris Hefley, 36, is about to undertake a potentially life- and venture-changing event: The A-round that could propell globally his Nashville-centered Cloud-based startup, LeanKit... read about it here.
Tuesday, September 20, 2011
Luke Simons, most recently of Council Capital (fka: Council Ventures), is having a blast at 76, while 41-year-old Les Wilkinson at Martin Companies and 45-year-old Si Deane of the Baden startup have nothing on him. Meet these guys here.
The Music City Music Council has a new superstructure and a second wind, under leadership from Mayor Karl Dean and co-chair Randy Goodman. The details are here.
Thursday, September 08, 2011
Spouting Rock Capital, based in the Philadelphia area, is apparently getting help from Nashville Angel investor Crom Carmichael, as it prepares a fund that may invest in Nashville-Tennessee ventures. Here's our update on Carmichael's activities and interests.
Friday, September 02, 2011
The Birmingham Business Journal (sub) lets Blueprint Birmingham advocates know that evasiveness and BS won't be enough to win support for the civic economic transformation initiative. Blueprint leaders are apparently behind schedule in divulging details of their campaign's progress, strategy, etc. Our view: Granted, economic conditions have left every endeavor fraught with uncertainty. No better time to err on the side of transparency in our dealings, particularly when trying to open a new front on innovation for the New Economy in Birmingham, or Nashville. Enough of the smoke, mirrors, spin and BS. Straight talk brings more unity, wisdom and genuine sustainable enthusiasm for progress.
Thursday, September 01, 2011
Today's SEC filing indicates $1.7MM going to VenX, the medical device manufacturer that's gotten strong investment from TriStar Technology Fund, the TNInvestco. Filing here.
[Updated] Claritas Capital and BreatheAmerica both made SEC filings in the past 36 hours or so.. Joe Hutts at Breathe reported raising $12MM and says there's another $10MM ontap for when it's time.. Claritas Cap has raised about $10MM toward its $75MM total goal for two pooled investment interest funds.. read about it here.
Tuesday, August 30, 2011
'Guess this means school's back in... so many things cookin' in the venture sphere... Clayton McWhorter's folks are taking a close look at go-forward staffing at the Nashville Entrepreneur Center.. JumpStart is about to make some of its acclerator grads happy.. TNInvestco's are putting money where their mouths are, investing in seed- and early-stage deals... eMIDs is part of a Chicago mentoring group.. Steve Collins caught the IPO brass ring... and much more right here.
Venture Incite's latest commercialization gambit with Y-12... plus capital raises, entrepreneurship and more from one end of Tennessee to the other, read about it here.
Jason Dinger, Jay Frank, Jeff Nahley, Rick Oliver... all deeply involved in ventures... read about these Nashvillians right here.
Wednesday, August 24, 2011
As previously announced, TN Economic & Community Development is preparing to award nine $250K grants, one-each with the state's nine economic-development districts. The ECD release is here.
Friday, August 19, 2011
The board of directors under Chairman Bill Evans, PharmD, this afternoon elected Haslam ECD Commissioner Bill Hagerty to serve through June 30, 2012, as chairman of TTDC. The story updated here.
Tuesday, August 16, 2011
The U.S. Treasury came through with $29.7 million the Administration of Gov. Bill Haslam needs to breathe life into its INCITE innovation and economic development initiative, a cornerstone of the governor's Jobs4TN program. Details are here.
Tuesday, August 09, 2011
Nashville Technology Council's next CEO, and its first woman in the post, will be Liza Lowery Massey, a veteran of both IT and consulting. Read about her and NTC here.
Entrada, which provides users better access to tools for documentation for electronic health records, has more capital and has added a director of marketing, to drive growth. Read about it here.
Thursday, August 04, 2011
In addition to living in Chattanooga briefly as a toddler, I've visited it often since marrying into the Coopers about 35 years ago, and it is today one of my favorite cities -- and I've seen plenty. A writer for Automotive bitingly takes the town to task for the smell its water treatment facility emits when rainfall is way down. Having lived in DC (sewer effluent), Charleston (papermill), Nashville (try Hillsboro Village on a hot day) and other cities with their own delights, I have long ago concluded no village is without its sudden odors. However, given Chattanooga's push for national industrial and residential prominence and overall economic development, this auto scribbler's offering must be noted for the record.
Wednesday, August 03, 2011
Cybera, the locally based network security provider, announced Brentwood-based Comdata, the electronic-payments solutions company, has adopted its technology. Release here.
Bullpen Ventures announced via Getahn Ward's piece in The Tennessean that it has added investors Steve Turner (Market Street, Dollar General), Joe Galante (Sony Music), Mark Montgomery (FLO Thinkery).
Monday, August 01, 2011
Here are five vignettes on entrepreneurs and their ventures, including some sage advice from the founder and former owner of Bandbox, plus updates on Chrysalis Ventures and other businesses. Read it here.
Wednesday, July 20, 2011
Claritas Capital, the Burton Hills VC, says its Claritas Capital Real Estate Fund I has raised $6MM or more toward a $7MM goal, in a filing today with the SEC.
Tuesday, July 19, 2011
VenX, a medical startup that treats spider veins and is backed by TNInvestco-certified TriStar Technology Fund got the FDA nod and 510(k) pre-marketing notification. More here.
Vanderbilt University Medical Center has won a $20MM grant to serve as the coordinating center for an NIH Clinical and Translational Research Awards program that involves 60 institutions. Bill Snyder's Reporter story here posted here.
Monday, July 18, 2011
Frontier Capital (Charlotte, NC) has had its eye on Tennessee ventures for a while. Now, it has more capital and the Recession may be behind us, so... they're taking a fresh look. Scroll down, here.
Two McCamy's in Knoxville have an interesting idea: If an entrepreneur will accept mentoring and join Entrepreneurs of Knoxville, they'll consider them for a free Zingo franchise. Zingo provides drivers dispatched via scooter for motorists who feel they shouldn't drive after drinking, or whathaveyou. It's here too.
Ditto Music is no "me-too" digital entertainment venture, with offices in Nashville, Liverpool and soon in Oz. The Parsons brothers who own it 100% have no debt and 30,000-plus customers as they sail past the $1MM revenue mark. Next, they'll revisit the issue of accepting investment capital they're previously declined. The story's here.
Thursday, July 14, 2011
Tennessee Gov. Bill Haslam expressed concern about federal funding for cleanups at ORNL. He's not convinced ORNL is getting its "fair share," he said. KNS here.
Wednesday, July 13, 2011
HCA announced in a July 12 filing that recently appointed Parallon Business Solutions subsidiary President Beverly Wallace is retiring and her successor will be announced, in due course. SEC filing here. HCA Chairman and CEO said in a statement provided VNC through an HCA spokesman, "Beverly has been an integral member of our senior management team for many years and her contributions to the company are many. Most recently she headed up a group that created and launched Parallon Business Solutions, a wholly-owned subsidiary of HCA. Bev had been contemplating retirement for some time but chose to remain with the company in order to lead the launch of Parallon. With this additional achievement now completed, she has chosen to retire at the end of the year. We are happy for her, offer her our congratulations for such a successful career at HCA and wish her the best in retirement."
Tuesday, July 12, 2011
Monday, July 11, 2011
Thursday, July 07, 2011
Tuesday, July 05, 2011
Terenine, the hosted-data and recovery provider in Chattanooga, is among tech companies benefiting in the wake of disruptive storms and floods, the TFP reports.
Commercial Appeal contributing columnist Andre Fowlkes exhorts Memphians to leverage Tennessee's strong rankings and Memphis' contributions, thereto, to improve the city's reputation. Read it here.
Dr. Harry Jacobson, vice chancellor emeritus at Vanderbilt University and former CEO of its Medical Center, is an entrepreneur and investors, and he has quite a lot going. The story's here.
Sunday, July 03, 2011
Lewis Lavine of Nashville-based Center for Nonprofit Management is one of several sources casting a wary eye on reports of a multicultural chamber's spending in Chattanooga, the Times Free Press reports.
Saturday, July 02, 2011
Stratasan will get 100% of Tod Fetherling, as he pushes to create new alliances for the health analytics firm; also, we provide a weekend update on the Nashville Technology Council's search for Fetherling's replacement as CEO. Read about it here.
Tuesday, June 28, 2011
The press conference and stakeholder briefing with Gov. Bill Haslam, SAm CEO Scott Case, ECD Commissioner Bill Hagerty and EC and ST CEO Michael Burcham at the Nashville Entrepreneur Center produced a good ration of energy this morning. A brief update on the matter is here. Responses to an RFI, solicited from would-be accelerator grants applicants, is due back to ECD by July 15.
HealthTeacher, just a 12-year-old, has now had total financings of about $15MM. They're heavying-up the team, added a new private-equity partner and are ready to take it on the road. Read about here.
Monday, June 27, 2011
We reported on Venture Incite (Solidus) going after ORNL/Y12 intellectual property for commercialization. Here's another one: Y-12 solvent technology. I'm thinkin' it's stronger'n WD40.
Startup Tennessee's launch will be celebrated tomorrow in Nashville, with help from Tennessee Governor Bill Haslam, Startup America CEO Scott Case, and others. It could be just the added ingredient the Tennessee entrepreneurial ecosystem has been needed. Time will tell. More here.
Tuesday, June 21, 2011
John Herbold (left), a pivotal player in Apple Inc.'s iCloud product development, has joined Nashville-based HealthTeacher, for a campaign to improve the health of US youth while advancing the 12-year-old company. VNC's story is here.
Monday, June 20, 2011
TopSpin Media CEO Ian Rogers is in the 2012 class of Nashville's Leadership Music. The frequent Nashville visitor is also taking over a popular online program The Week in Music. Here's an update.
Solidus Co. and its TNInvestco-linked Venture Incite tech-commercialization accelerator are making a splash with their option on superhydrophobic technology from ORNL. It's just the beginning, apparently. Read about it here.
Tuesday, June 07, 2011
State Sen. Randy McNally (R-Oak Ridge) and Nashville tax-revolter Ben Cunningham, speaking in this morning's Tennessean, express concerns regarding Gov. Bill Haslam's INCITE program, through which ECD Commissioner Bill Hagerty hopes to get federal permission to use $30MM in federal funds to support co-investment in early-stage companies. If that permission isn't granted, the money might have to go to banks, instead. That, in turn, would eliminate one leg of the Haslam-Hagerty Incite program, and could jeopardize other parts of the plan, including the funding of incubators in some areas of the state. 'Could be coincidence, but McNally's concerns regarding transparency of the program could be partly a result of partly suppressed complaints in E.TN. about the fact no TNINvestco funds in that region were certified and little TNInvestco money has gone into firms in that territory. As we pointed-out in yesterday's NewsBits, The Knoxville News Sentinel opened further this can o' worms this weekend with a batch of stories. Also, as we reported May 23, Hagerty's agency rethought its release of TNInvestco investment-certification information and plans to release less info.
Monday, June 06, 2011
Our latest VentureNotes and NewsBits features include a couple dozen items on new ventures, a new Angel/VC fund, Venture INCITE, state and regional entrepreneurship and tech-transfer initiatives and more. Read it all here.
Farsheed Ferdowsi may scoop-up up to $4MM for his Inova venture and rolling-up accounting firms' service bureaus is part of the gameplan. Story here.
Thursday, May 26, 2011
Tennessee Consolidated Retirement Systems (TCRS) announced two more commitments to private-equity funds, and the mindsets of those to whom the money is to be entrusted are reflected on their websites, making interesting reading for entrepreneurs and investors, alike. Read about it here. Some in-state VCs, including some that are participating in TNInvestco-certified funds, have expressed interest over the years in TCRS making some commitments earmarked for instate funds.
Tuesday, May 24, 2011
Chairman Andy Flatt and Vice Chair Chris Sloan say they're preparing to mount a search for Tod Fetherling's replacement, now the CEO has announced his plans to leave Nashville Technology Council for HealthDataSource. Story here.
Monday, May 23, 2011
Social Chutes, a new holding company, has bought Bandbox and RedRovor from two young Nashville entrepreneurs who may look beyond Music for their next gigs, reported right here.
Joe Maxwell, CEO of CapControls and erstwhile founder and eventual seller of Investment Scorecard, is back with fresh capital and a spiffy new alliance with AnalytX, intent on changing the landscape VCs/PEs know as their Middle Office.. right here.
Stuart McWhorter's exploring creating a new VC statewide group.. There's apt to be less TNInvestco info published... Dan Marcum's creating The Launch Pad in Tullahoma.. and much more in the latest NewsBits roundup right here.
Thursday, May 12, 2011
Wednesday, May 11, 2011
Dan Hammond is cranking-up a new media venture, spinning-out of American Hometown Media, and bringing with it Just A Pinch of excitement for the Nashville area, read more here.
LOTS here... new guys at Chrysalis, CentreSource and Nutraceuticals.. point man at ECD on corporate recruitment for the state and much more here.
Tuesday, May 10, 2011
All the patents in the world won't create jobs if they aren't investable and transformed into goods and services through commercialization - that seems to be the message from Friday's panel of ORNL, VU and other experts. TN has some catching-up to do with respect to its population of serial entrepreneurs and visionary leaders, too. Read about it here.
Monday, May 09, 2011
Thursday, May 05, 2011
Complete Holdings Group, the parent company of EnableComp, the workers compensation revenue recovery solutions provider, raised an undisclosed amount from friends, family and SSM Partners. Complete Holdings' CEO is entrepreneur Jim Lackey.
JumpStart Foundry announced the six members of the 2011 class: iAgree - Platform for facilitating video-based, legally binding promises... Kahootzz - Social platform combining community partnerships and consumer markets into a “local opportunity engine"... Reflex Inc. - Tool for visual designers and tech enthusiasts to build applications for Apple iOS and Google Android mobile platforms... TapMe - Multi-platform web service aggregator with filtered content and extended sharing features... TheFreshTest - “Farm-to-fork” solution using grid sensor technology devoted to solving waste, spoilage and regulation issues across food supply chains... Virtual Parking Garage - Platform allowing consumers to pay for metered parking and private lots via mobile devices. More on JumpStart here.
'Less rivalry, more collaboration' might be a reasonable guess at the subtext of today's address by Gov. Bill Haslam, before an audience at the NEXT TN Conference, hosted by TTDC. The governor's INCITE innovation program includes state co-investments, more pressure on commercializing technologies, honors for entrepreneurs, more incubators statewide and more. Read our take, here.
USEC and B&W, the Oak Ridge-based partners in manufacturing centrifuges for processing nuclear fuel, still await a federal loan guarantee, but have formed a new company. The KNS reports.
Wednesday, May 04, 2011
Memphis IDB picked Allen & Hoshall as PM for the Electrolux expansion in Memphis, all part of an effort, sometimes controversial, to spur jobs-creation. CA has it.
Tennessee House Speaker Beth Harwell and Memphis-area State Rep. Mark White will study what might be impeding the commercialization of intellectual property spawned on campuses within Tennessee. This NewsBits installation has numerous other stories about economic development, new tech products, venture capital, that Chattanooga venture forum and more, right here.
Nutraceutical Discoveries, which just relo'd from Knoxville to Nashville, addresses the growing obesity dilemma with money from TNInvestco's Limestone Fund and Tennessee Community Ventures Fund, has named Douglas Grindstaff II its CEO. Earlier VNC coverage of this developing startup.
Pathway Lending, the early-stage economic development lender focused on jobs-creation, expects soon to hit $100MM in assets. CEO Clint Gwin discusses the mission and the hundreds of companies aided, plus Pathway's growing footprint in Tennessee and in alliance with UT Research Foundation. Read it here.
Monday, May 02, 2011
Shareable Ink and DisastersNet, both based in middle Tennessee, are among the firm's tagged "Cool Vendors" among healthcare IT firms by Gartner. The reports is here.
Sunday, May 01, 2011
Lipscomb University’s Institute for Sustainable Practice has named state Sen. Andy Berke, D-Chattanooga, as its 2011 Green Business Leadership Public Official of the Year.
Nanotech: Science writers with Vanderbilt University and Oak Ridge National Laboratory provide an update on nanotech lessons learned from Nature. Related: Our recent report on VU science writers.
Friday, April 29, 2011
In the Chattanooga area where the behemoth has two facilities under construction, Amazon.com is ramping-up hiring, says the TFP. Amazon announced this week it's dropping plans to create 1,200 jobs in South Carolina, after the legislature and governor opposed tax incentives for the company. Read here.
Paul Fassbender, a former aide to U.S. Sen. Bob Corker (R-TN-Chattanooga) is now assistant commissioner of Economic and Community Development under Commissioner Bill Hagerty. Read about it here.
Wednesday, April 27, 2011
Digital Reasoning Systems has opened a Washington, DC, office. The Brentwood company's business origins are in the intelligence community. Link.
Bill Snyder and David Salisbury had long careers in journalism before their stop of Vanderbilt, but inside the institution, covering science and technology keeps their fires lighted. More on them here.
Vanderbilt University has reportedly named a new chief of technology transfer and commercialization, our story's here.
Monday, April 25, 2011
JumpStart's squadron of mentors.. Haslam-Hagerty prepare to unveil innovation strategy.. Blackstone Group foundation support NC entrepreneurs network and much more here.
Allies in Chattanooga - the get 'er done city - are rallying to launch a new incubator, The Lamp Post Lab downtown. Read about it.
Founder-CEOI Sal Novin tells us where he stands with his superangel-backed startup, HPA, which promises to automated all commoditized workflow process functions, with dramatic results. The story's here.
Wednesday, April 20, 2011
Jobs4TN, the economic-development plan crafted by ECD Commissioner Bill Hagerty for Gov. Bill Haslam, was announced today in rough outline, including news of a 35% staff reduction at ECD and promise of a new senior leadership team for the agency. The release did not mention any logical ECD allies by name. As signalled earlier by both the governor and Hagerty, ECD's gameplan will rely heavily on leveraging existing sectoral strengths and regionally significant industrial bases, and will post basecamp liaisons across the state to help push urban and rural development, the latter being further boosted by the addition of a new senior post for rural development. No word yet on when details will be provided. Today's release is here.
Through a JV-type development entity, Vanderbilt University has divested to Cumberland Pharmaceutical a program original developed by BMS, which BMS gave to the JV entity, or something like that. Cumberland notes there's no approved treatment yet for Hepatorenal Syndrome, at which the program is aimed. The release is here.
Via Nashville Scene, which says a reader ripped-off and passed-along an RS article, Nashville is now regarded as America's Best Music Scene. Rip it here.
Despite controversy over sales-tax payments and economic-development incentives to Amazon for its Hamilton and Bradley County facilities, Gov. Bill Haslam accepted former Gov. Phil Bredesen's judgment. The TFP reports.
Tuesday, April 19, 2011
Chattanooga is in the running for Smartest City designation, mainly because of its 1Gig standard broadband availability. The jury votes June 3. The TFP reports. No signs, btw, that Nashville Electric Service plans to follow in EPB's footsteps.
'Sounds as though Economic and Community Development Commissioner Bill Hagerty is creating an input-output model of sorts, to project the impact on employment from incentives used to lure businesses to come Tennessee, or to stay put. Details may be out later this week, the TFP reports.
More evidence that Louisville is experiencing the daisy-chain economic-development effect with respect to industries serving senior America. The story's here. Or, visit VentureNashville.
Oak Ridge National Laboratory had to shut down Internet access last weekend to deal with an advanced persistent threat to information systems security. The KNS reports.
UVA Prof. Siva Vaidhayanathan, speaking at VU, warns that the Googleization of everything can lead to debased learning and excessive consumerism. VU release here.
HealthStream and Belmont University are partnering to produce educational content to support manikin-based simulation and debriefing for medical educators (click, then scroll to bottom here). HealthStream is part of a JV with publisher Laerdal.
Freedom Innovations licensed intelligent prosthetic technology from Vanderbilt University, more here.
Monday, April 18, 2011
Saturday, April 16, 2011
TVA's recent decision to idle coal-fired power plants, its unexpected surge in earnings and other issues have put them in the crosshairs of at least one congressman. The TFP reports.
Friday, April 15, 2011
Expressing confidence that nuclear remains a TVA power option going forward, Nashville-based Chairman Denny Bottorff said it's a good time for TVA to pause and review its plans. Bottorff is also founder of Council Ventures, the Nashville-based VC. The TFP has it.
Thursday, April 14, 2011
Mentors from the digital music and entertainment sectors are being recruited by Nashville Entrepreneur Center and Nashville Music Council to help e-startups get launched. Read about it here.
Vanderbilt University is not only reorganizing and staffing-up its tech transfer unit, but has created an advisory committee that includes VC's and entrepreneurs. Read more here.
Vanderbilt University School of Engineering announced: "The new National Science Foundation-funded Cyber-Physical Systems Virtual Organization (CPS-VO) aims to bring together researchers, educators and students working in academics, industry and government agencies in a kind of virtual brain trust to foster progress, develop priorities and quickly distribute information in the rapidly emerging field of cyber-physical systems. Vanderbilt’s Institute for Software Integrated Systems (ISIS) has built and will operate the web-based collaboration platform for CPS-VO through a five-year, $1 million NSF grant project, titled VOCYPHER or Virtual Organization for Cyber-Physical Research. The CPS-VO portal debuted this week at CPS Week in Chicago." Read more here.
Cogent, the Brentwood hospitalist company, and Hospitalist Management Group (Canon, Ohio) are to wed, with the consummation expected soon. This should give Knoxville-based TeamHealth something to ponder. Np.com has it.
Wednesday, April 13, 2011
Tuesday, April 12, 2011
Burton Hills-based US Radiosurgery has been bought in a transaction valued at about $54 million by the Alliance Oncology division of Newport Beach-based Alliance HealthCare Services. Release here.
3M today announced it'll buy a DuPont facility in Old Hickory, Davidson County, to produce products using "coating, film and nonwoven technologies to engineer" for health care and home care markets. It'll mean jobs for 40.
Oak Ridge National Laboratory high-performance computing chief Jeff Nichols says ORNL must find ways to work with China on science and computing. Frank Munger of the KNS reports.
Monday, April 11, 2011
The idea for a Tennessee Angel Investor Tax Credit has wings, but may or may not have legs. Read about it here.
Lyle Beasley and Bobby Rolfe, long-time friends, have teamed for a new private-equity venture that targets neglected assets within larger companies. The story's here.
Thursday, April 07, 2011
FirstRoundExchange, the new Eric Cromwell-Dan Schmisseur venture that lets football fans play the draft, has formally launched here. Our earlier alert it was coming was here.
Wednesday, April 06, 2011
The Tennessee Consolidated Retirement System's (TCRS) latest private-equity asset commitment puts $25MM on the table for Bessemer Venture Partners to manage. The announcement advances the 18-month-old program, and comes shortly after word of a legislative initiative that could have influenced TCRS investments. Read about it here.
Tuesday, April 05, 2011
Regions announced it's now targeting Technology and Defense sectors for business, under leadership of David Sozio, who built a previous line of business while with Wachovia (First Union). The release is here.
AZUR Solar USA, a South Carolina company, will open a Knox County facility for production of solar coatings and design and installation of solar-energy systems, following a grant from the Tennessee Solar Institute. KNS reports it.
Monday, April 04, 2011
A day after scrutiny of the organization in The Tennessean for possible inappropriate management actions, Soles4Souls announced a brace of business and organizational initiatives. The release is here.
Karen Bruton has a passion for international relief efforts, and she plans to use her earnings from a new $95MM investment fund to support Brentwood-based Just Hope International and related works. The story's here.
Consensus Point just may be NEST-TN's next TNInvestco-certified portfolio company. More on this and other funds' investments, right here.
Lots to think about: TripRaiser crowd-funding's launch.. a role for Culp's Delegator.. Phil Pfeffer's advice.. university initiatives.. BioHealing's IPO.. Green initiatives and much, much more, right here.
Bullpen Ventures, launched mainly by VC Stuart McWhorter and Ingram Distribution chief John Ingram, plans to give more than one $15K microgrant, when warranted, to ensure success for worthwhile startups. More details here.
Thursday, March 31, 2011
Passport Health Communications announced today it has achieved full accreditation with the Health Information Exchange Accreditation Program (HIEAP) from the Electronic Healthcare Network Accreditation Commission (EHNAC). EHNAC’s HIEAP accreditation recognizes excellence in health data processing and transactions, and ensures compliance with industry-established standards and HIPAA regulations. Passport will post its release on its site.
Wednesday, March 30, 2011
From today's "Inside Baseball" edition via email from Jarrard Phillips Cate & Hancock, the Nashville healthcare public communications firm (not yet posted here), in part, "A small circle of Nashville heavy hitters – Fred Goad (investor through Voyent Partners and founder of Envoy Corp.), Joel Gordon (local investor, former head of HealthSouth and co-founder of Surgical Care Affiliates), Jim Sohr (local investor and former head of AIM Healthcare) and Dave Swenson (investor through SSM Ventures and Coleman, Swenson & Booth ) just to name a few – have a big deal in the works [...] to recapitalize Chicago-based Advent Health Partners, a revenue cycle management company..."
Nashville-based Angel Capital Group has invested an unspecified amount in a recently reopened C-round raise for Screampoint, a data-visualization software and services provider with offices in Menlo Park and abroad, according to a release. ACG CEO Rachael Qualls told VNC that ACG learned of the opportunity through an ACG angel. Screampoint's C-round remains open and will eventually close with about $3.5MM total, she said. Previous ACG coverage on VNC is here.
Aegis Sciences, the drug-abuse and -efficacy forensic testing service, is suing California-based Millennium Laboratories, alleging unfair competitive practices including offering inducements to physicians. The NBJ reports. An earlier VNC story on Aegis.
Nashville-based HealthStream announced it spent $3.5MM cash to acquire 50% of SimView, a Laerdal education debriefing video system essential in learning processes; and, announced it had changed its line of credit arrangement with SunTrust, partly to support growth efforts.
Brentwood-based Digital Reasoning Systems and Cloudera (Palo Alto) announced further enhancement of their data-analytics partnership. Release here.
Tuesday, March 29, 2011
Stephen Collins spent five years tightening-up the-Brentwood-based Juris, the lawfirm software company, for sale to LexisNexis. It wasn't all fun. Now, he's with Bazaarvoice, a mid-stage social-commerce company in Austin, as CFO. Our story is here.
DisastersNet, the Cool Springs firm that helps manage mobilization of resources in emergencies or other situations, added some Indiana hospitals to its clientele. Our previous report on DisastersNet is here, including the role of The Martin Companies.
Our 28 March NewsBits features news from Council Ventures, edo Interactive, University of Tennessee, Terry Esper, Kelly Tiller, Vaden Landers, crowd-funding, SimCenter and much more more, right here.
Stuart McWhorter has personally invested in 24/7 Sports, a Brentwood pro-college sports site that will certainly rival Rivals.com, the competitor created and later sold to Yahoo! by Shannon Terry. Our bit is here.
The rising tide of TNInvestco-funded portfolio companies suggests there may soon be a flood of information that will inevitably be disparate, confusing and incomplete (given NDA's, etc.). No word yet on how the TNInvestco assessment will be done. Our latest report is here.
The New York Times reports on the tsunami of cash flowing into venture funding, and recalls the 1999-2000 period when the 'hot and sexy' litmus test was a proxy for due diligence. HT: NashvillePost.com
Friday, March 25, 2011
Gov. Bill Haslam's Department of Economic and Community Development issued data today certifying that each of the state's 10 TNInvestco funds were, based on data submitted, compliant with state law and regulation in executing their funding programs during year one of TNInvestco. ECD spokesman Mark Drury indicated this afternoon he was uncertain regarding the Haslam Administration's next step in evaluating the performance and value of the program. The ECD report is here. Other background info is here.
Thursday, March 24, 2011
Edo Interactive in Nashville's Green Hills area has hired former Google and Groupon execs, per the company's news releases here and here. Earlier edo coverage on VNC here.
Wednesday, March 23, 2011
Market Center Management Company, the Dallas firm developing the Nashville Medical Trade Center, announced today that Vanderbilt University Medical Center has dubbed NMTC a preferred vendor for space and infrastructure for continuing medical education. Details of the relationship were not released. Related earlier VNC story.
Chattanooga's small-business owners gathered this week for a visit with U.S. House of Representatives Small Business Committee Chairman Sam Graves, and apparently there were plenty of complaints about financial and health reforms' impacts on hiring and lending. The TFP reports. Other VNC coverage.
Tuesday, March 22, 2011
Middle Tennessee State University has a new air-traffic control simulator and is addressing the nation's projected needs for thousands of new ATC's as veterans retire. WPLN NPR reports.
Gwyn Fisher, head of MPACT Memphis, is traveling abroad to spread the message of Memphis' allure for young professionals. The MDN reports it.
Wacker Polysilicone has donated $3MM to support training for its future workers at Chattanooga State Community College, the TFP reports. Oh.. and the State's giving Wacker $5MM in cash and $29MM in bonds, in gratitude for Wacker's recently announced expansion of its capacity and workforce, the TFP also reports.
Biotech, life sciences, pharmaceuticals... these are domains most Nashville entrepreneurs and investors feel are beyond their ken. Yet, there are amazing things going on here, as we report from Vanderbilt's new drug discovery center.
Yesterday's announcement of $400K in grants for eight promising Tennessee ventures in development may signal Tennessee Technology Development Corporation is back at-speed. The VNC story's here.
In the 21 items of this week's NewsBits, perhaps nothing is more intriguing than news that several Tennessee legislators are working to gain state support for a clean-coal initiative. All that and more, right here.
Will Pinkston, a former Bredesen Administration aide, has hung out his Sync Strategies shingle and is helping translate complex education and research issues into English. Our story's here.
Thursday, March 17, 2011
Acadia, an Atlanta behavioral health firm, is migrating from Atlanta to middle Tennessee, propelled by new CEO Joey Jacobs and $20MM in management-team investment. NashvillePost.com has it.
Tuesday, March 15, 2011
Venture Incite, the tech-transfer arm of Solidus and its emerging network of incubators, confirms it has several tech maturation grants in prospect. NashvillePost.com has it. Our earlier note on Venture Incite chief Scott Ewing (at left).
Monday, March 14, 2011
American Esoteric Labs, owned by Australia-based Sonic Healthcare, doesn't aim to sell hard nationwide, but will focus on being "local." The CA reports. Other news from VentureNashville.
Alstom, the French company now producing steam and gas turbines in a new plant in the Chattanooga area, this month shipped its first delivery. The TFP has it. Other VentureNashville coverage.
Well, having been in those shoes, we can't say we blame Nashville Medical Trade Center spokesman Cole Daugherty for stayin' on message. Here's our note.
Sunday, March 13, 2011
With Gov. Bill Haslam's State of the State a day away, Andy Sher of The Times Free Press reviews what's at stake, and how some state agencies and programs have prepared for the end of Stimulus funding. The TFP has it.
Tom Humphrey of the Knoxville News Sentinel provides detailed prognostication on the eve of Gov. Bill Haslam's first State of the State, looking ahead to the Administration's first budget submission. The KNS has it.
The Tennessean's Chas Sisk reports on the state's TNInvestco program, on the cusp of release of a formal report on the TNInvestco-chartered funds' performances. The story's here (and soon behind the cost wall).
Thursday, March 10, 2011
Oak Ridge National Lab's budget, like everything else right now is vulnerable to the federal budget axe, and that means clean-energy programs are in jeopardy of losing funding. Read about it.
Wednesday, March 09, 2011
HCA issued a press release this afternoon, saying the company's IPO has gone effective and will begin trading tomorrow, March 10, and should close by March 15 (the Ides?), raising an estimated nearly $3.8bn, with 126.2 million shares priced at $30.
Cybera, the Franklin, Tenn.-based data security and payment-card systems security provider, announed today it's taking its Cybera ONE suite national. A recent release describes the suite. They said they've added Mapco as a client, also.
TNInvestco fund Tennessee Angel Fund, an affiliate of Nashville Capital Network and the NCN sidecar fund, joined with FCA Venture Partners, an arm of Clayton Associates, to fund the B-round of incontinence-care specialist Silvercare Solutions. A quick take here.
Lieff Cabraser, the class-action litigation firm, announced that Vanderbilt University Medical Center and Meharry College will each get just over $1MM from a settlement related to marketing practices by Solvay Pharmaceuticals. The release is here.
The University of Memphis and UT College of Pharmacy are allying to offer an MBA for health-system pharmacy executives. The CA has it.