Entrepreneur Center kickoff

Here's VNC's advance story on the scheduled unveiling of the Nashville Entrepreneur Center and a new ChamberP2010 marketing campaign. Updated: Here are post-announcement stories from TSN, NBJ and NvP..

Update on the Entrepreneur Resource Center

Middle Tennessee's proposed Entrepreneur Resource Center is not so much intended to "make it easy" on entrepreneurs launching business, as much as it is intended to accelerate the process of vetting ideas for businesses, according to Bobby Frist, co-chair of the Entrepreneurship Task Force of the Nashville Area Chamber and Partnership 2010. Frist, who is founder and CEO of Healthstream, answered questions during today's live webcast produced by The Tennesseen and hosted by Business Editor Randy McClain. (He's pictured far-left, with Mike Shmerling.) Frist said an advisory board of about 9 persons will be assembled to guide the ERC center along. No formal invitations to that advisory body have yet been extended, Frist said. Frist said the ER Center -- first a virtual online center, later a physical presence -- will serve as a "beacon" to the nation and the world, signaling that Nashville is serious about encouraging entrepreneurship by local firms and by firms that might be attracted to relocate to Music City. First noted that VCs and others who might have originally been concerned about the ERC possibly becoming competition for deal flow, have largely had their concerns allayed. At the same time, he said, the region must try to recruit additional capital investors to middle Tennessee. Frist said the entrepreneurship initiative would probably first leverage Nashville's existing strengths in healthcare services and technology, plus music and related technologies. Frist noted that his EP co-chair, Choice Food Chairman Mike Shmerling, has been particularly keen on using the ERC to attract businesses to relocate here from other states.

P2010 Entrepreneur Project Update

More this morning in The Tennessean on the Chamber-Partnership 2010 Entrepreneur Project that we reported, earlier. Co-chairs Bobby Frist (HealthStream) and Mike Shmerling (XMi, Choice Food Group) review plans for a virtual, and eventually a physical Entrepreneur Resource Center. In addition to making clear they're moving ahead on some EP recommendations, Frist notes that the initiative still needs "a leader to emerge to head up the fund-raising." Tennessean Q&A by Bus. Editor Randy McClain is here.

Venture Notes

Vic Gatto (at left), a partner in Solidus Company, responded to Bruce Lynskey this morning. Gatto is, as is Lynskey, a participant in the Chamber Entrepreneur Project. He said, "I basically agree with Bruce, with [differing views on] a couple of subtle issues. There is no question that there is a scarcity of Seed/Early stage capital in Nashville. However, zero seems to be inaccurate. Solidus [VC player] invested in seven new companies last year (5 in Nashville) -- that is not zero. What I tell people is that there is not enough capital by a factor of 3-4X. This doesn’t mean that there is 'zero'. It does mean that many exciting companies with strong management teams should get funding, but do not. Additionally, I do not agree that 'it’s a culture thing.' In my opinion, this is inaccurate and wrongly suggests that the city will not be able to foster a strong venture presence. I believe there is a strong culture of entrepreneurship and early stage (angel) investors to finance them. For multiple reasons, these people, successful former start-ups and investment firms have never organized them into a venture community like occurred in Boston and Silicon Valley."