accelerators

SBA and the Department of Commerce launched Startup University in response to a series of roundtables with accelerators and universities that highlighted the need for a forum to share best practices and build connections between universities and startups. Users can post and comment on specific programs or general ideas that foster these positive relationships. Many programs listed in the forum will be presented at this week's NCET2 Conference. Explore the online forum here...

Through a combination of new funding in the current budget and legislative measures aimed at coordinating state efforts and measuring progress, Gov. Bob McDonnell hopes to showcase Virginia as the premier destination for entrepreneurs to start or relocate a business. New funding, to the tune of nearly $10 million, would be used to establish a regional accelerator grant program, cybersecurity accelerator, and career pathways development program, among others.

The Obama administration today announced the 12 winners of the multi-agency Rural Jobs and Innovation Accelerator Challenge. Approximately $9 million in federal funding will help support rural public-private partnerships to promote job creation, accelerate innovation and provide assistance to entrepreneurs and businesses in a wide range of industrial sectors in rural regions across the country. Economic development partnerships and initiatives in Alaska, Arkansas, Connecticut, Illinois, Kansas, Louisiana, Mississippi, New Hampshire, North Carolina, South Carolina, Virginia and West Virginia will receive awards ranging from nearly $200,000 to over $1 million from participating federal agencies. Based on grantee estimates, it is expected that in the short term a total of 2,990 jobs will be created or retained and $35.5 million in private investment will be leveraged. In the long term, grantees estimate that a total of 6,460 jobs will be created or retained and $69.6 million in private investment will be leveraged.Read the release...

Established last year to help entrepreneurs develop business plans and launch companies, Tennessee's nine regional accelerators also will play a key role in the state's new five-year strategic plan through partnerships to create and expand angel capital networks and mentoring for new startups. The LaunchTN initiative was unveiled last week by Gov. Bill Haslam, who charged the Tennessee Technology Development Corporation (TTDC) with implementing the plan and serving as the lead advocate for the state's innovation agenda.

Finding new and creative ways for high-tech companies to succeed is an important component in business incubation. A recent study examining best practices for supporting new company formation finds it is the synergy among multiple practices, policies and services that produces optimal outcomes. At the same time, collecting standardized measures, reporting on progress annually, conducting external independent evaluations, tracking programs, and continuing to enhance practices are singled out as important policy implications. Over the past few months, several new incubator models have emerged — including a concept for a hybrid-accelerator and a startup incubator that floats. Select announcements are included below. 

The North Carolina Innovation Fund has announced plans to support a new accelerator that would promote life science technology transfer from the state's universities. Published reports indicate that the accelerator would launch later this month and focus on companies developing biopharmaceutical therapeutics, diagnostics and medical devices. Participating startups could receive capital investment from the accelerator's associated funds. Learn more...

Akron Mayor Don Plusquellic announced the plans to form the "Akron Development Corporation Seed Fund" in his State of the City address on Tuesday. The fund, with backing from corporate sponsors, aims to attract biomedical companies to the region. Companies receiving investment would locate in the Akron Global Business Accelerator. Read the announcement...