Ever heard of Techstars or Y-Combinator in Boulder/Boston? SeedHatchery, a similar program, has been created here in Memphis! SeedHatchery The concept is a collaborative venture between Solidus (a vc firm out of Nashville) and EmergeMemphis. We are a very early, seed stage investment vehicle with a heavy mentorship driven program behind it. For $15,000 and a 10% equity play, an entrepreneur with a great idea (mainly technology driven, but all ideas are welcome) can apply to get the venture off the ground, incorporated, and into reality....if committed enough to the idea. The setup will be a 90 day cohort effort where there will be accountability events 2-3x a week to make sure that the idea is growing and being further developed.
There are a lot of entrepreneurs in this area that need a small funding jumpstart to help them get their ideas off the ground, so we feel like this plan will help find qualified others who have a strong desire to get something tangible actually launched. Behind SH, will be a group of 25-30 mentors who all have various backgrounds in a variety of areas, ie angel and vc investing, sales, financial and legal, pr, IT, etc. This should provide the necessary platform and firepower to assess whether any of those that apply has the potential to scale and grow. If an idea gets a user base and further customer attention, then as a next step.... an angel base will be attracted and ready to have more conversations about increased funding opportunities, if there is enough interest. This will help ensure additional continuity of a concept so that a better chance will be enabled for success.
The location venue will be at the Launchpad here at EM. Eric Mathews will be the lead hatcher and myself/Vic Gatto at EmergeMemphis/Solidus, resp will be providing additional resources to help with this compelling initiative. Applications are being accepted now and due by FEB 11th at SeedHatchery so APPLY!!
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