Jumpstart your idea

Jumpstart Foundry is getting another running start at its 3rd batch of startups. Get aboard! by reading this.

TN technology news

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.

Solidus Venture Incite 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.

N'ville Media venture

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.

Speaker Harwell eyes campus science

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.

Consensus Point TNInvestco?

Consensus Point just may be NEST-TN's next TNInvestco-certified portfolio company. More on this and other funds' investments, right here.

Venture Incite

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).

Local VCs fear smokin' holes

A local panel discussion reveals a bit of the perspective of Townes Duncan, founder of Solidus, which has spawned JumpStart Foundry and other programs. Read about it here.

Solidus-Seed Hatchery mentees named

Seed Hatchery and Solidus (JumpStart) announced their first 6-startup cohort for the Memphis Seed Hatchery incubator. The only one with an alpha website is StiQRd, technology for the digital loyalty wallet; others in the cohort (all with URL's parked) Tridyn, focused on electronic device recharging stations with digital marketing; Obeedo, online groceries with drive-through pickup; Krikle, which enables self-expression via GPS and Smartphone-enabled virtual graffiti wall; WTF Memphis (the acronym can't have the usual meaning), which relates to "domesticating wireless sensor networks"; and Work for Pie, a "Match.com"-ish for entrepreneurs and co-founders. The Seed Hatchery release is here. It says, in part, "Seed Hatchery is a mentorship-driven seed fund that invests to accelerate new companies through the early phases of starting up. It was founded by serial entrepreneur Eric Mathews in partnership with Solidus Company, one of the new TNInvestco venture funds. The Seed Hatchery startups will receive access to successful business leaders, an innovative 90 day cohort program to help them develop their startups, as well as $15,000 in capital. Incubation space and other operational support are furnished..." The tip o' the Seed Hatchery spear in Memphis is entrepreneur and consultant Eric Matthews. More VNC news is here.

NewsBits Feb. 14, 2011

A compendium today: New leaders at LifeScienceTN, VentureIncite, some staffing it seems at Silicon Ranch, some PE's 'disappear' as Chattanooga firm liquidates, and more right here.

Plumgood ahead of its time?

Nashville's Plumgood Food went out of business, ending its online-bricks-mortar hybridge grocery business, and sending entrepreneur Eric Satz off on a new trajectory, as co-founder of the TNInvestco-certified Tennessee Community Ventures Fund (TCVF). Redfin CEO says in TechCrunch that the hybrid model has a great future, nonetheless.

Solidus leads JumpStart Foundry launch

Nashville-based venture capital and private-equity manager Solidus Co. has created a new portfolio company, JumpStart Foundry LP, with about 20 co-founders. The mission: seed-stage investment. The story's here.

Motricity grips revolver from Silicon Valley Bank

Erstwhile Nashville mobile-sector startup Motricity (aka, PowerbyHand, etc.) has entered a loan agreement with Silicon Valley Bank. Motricity is mostly in Bellvue, Wash., these days, with some presence still in N.C. We think Nashville VC Solidus still has a stake in Motricity.

Peat, Gatto, Chadwick on watching NVille Techies

Here's our story, also published by Digital Nashville, on how local VCs follow the efforts of local Tech innovators and entrepreneurs. Cited are Council's Gary Peat, Claritas' John Chadwick and Solidus' Vic Gatto.

Vic Gatto keeps learning

It's speakers' responses to audience questions that often catch our attention: As when during the recent NTC capital forum Solidus VC Vic Gatto answered a question from Brainwave entrepreneur Rob Solberg. Gatto revealed he's been studying online games and the intersection of mobile and social, and finds it an "exciting space," particularly if there's a new platform emerging. Read about the forum here.

TNInvestco: Solidus ready to he'p

Solidus TNInvestco LLC didn't get a $20MM allocation of tax credits to lure investors under the TNInvestco program announced this morning; but -- looking ahead to partnering with the firms that did get allocations, and possibly looking toward a second TNInvestco round -- Solidus Partner Vic Gatto told VNC this afternoon, "As I have said from the beginning of TNInvestco, it is a great program for our state. Obviously Townes and I are both disappointed, but we wish the six winners luck and hope to work with them as they invest the capital. If there is another round of tax credits, we would certainly be interested in participating."

Byrd fingers TNInvestco

Given that Solidus-owned Southcomm's PostPolitics blog via NashvillePost.com is one of the most frequent re-posters of Mike Byrd's Enclave blogposts, we might as well save A.C. Kleinheider the trouble: Byrd's opinion on how TNInvestco supposedly inappropriately pleasures VC Solidus, which owns Southcomm, et al, is linked here. Apart from Byrd's avowed concern about the media consolidation represented in holding-company Southcomm, the burr here seems to be as much about the evergreen topic of economic-development incentives for current and future Tennessee businesses, as it is the issue of media ownership and-or ethical conflicts Byrd imagines flowing from Southcomm media coverage of TNInvestco. Related: NashvilleScene columnist Bruce Barry offers two pieces relevant here: pieces 1 and 2.

Tough love from VCs

The roughly 80 tech executives, VCs and others assembled last week for a panel discussion on venture capital and angel investing seemed happy enough after hearing tough-love observations about how bank debt facilities have dried-up, Angels ain't writin' checks so easily and VCs enjoy deal flow that's as greater or greater than they had in boomtimes. The story's here.

The next VC-Angels panel is Nov. 6th

Coming Nov. 6th: Sid Chambless of Nashville Capital Network and Rachael Qualls of Angel Capital Group, together on the same stage, talking about the nuts 'n bolts of approaching investors. Stalwart VC Vic Gatto of Solidus (left) has volunteered for the middle seat. This Boult Cummings-sponsored event complements last week's NCN-sponsored VC panel, which produced insightful comments. Moderator for this round is Courtney Ross, VP with the Nashville Area Chamber. More info here at Nashville Technology Council.

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."