Techstars Partners with Tennessee Powerhouses to Bring Techstars Industries of the Future Accelerator to Oak Ridge-Knoxville in 2022
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Techstars, Oak Ridge National Laboratory, Tennessee Valley Authority and University of Tennessee announce new accelerator focused on emerging technologies to support technological breakthroughs and economic security
KNOXVILLE, Tennessee – (BUSINESS WIRE) – Techstars, the global network that helps entrepreneurs succeed, today announced the launch of Techstars Industries of the Future Accelerator, a new program based in Oak Ridge-Knoxville and committed to supporting and advancing the world. Class-leading startups focused on emerging technologies across industries including artificial intelligence, advanced manufacturing, quantum information science, 5G / advanced wireless technology, biotechnology, and clean energy technology. This is Techstars’ first acceleration program based in Tennessee.
The accelerator will work in partnership with Oak Ridge National Laboratory (ORNL), Tennessee Valley Authority (TVA) and the University of Tennessee (UT) in support of organizations’ shared missions to identify, develop and implement solutions innovation in the industries of the future and stay at the forefront of these competitive and evolving industries.
“Working with ORNL, TVA and UT to foster an environment where startups that build breakthroughs in industries of the future can come together and thrive is a unique and galvanizing opportunity,” said Nancy Wolff, CEO of Techstars. “The heart of the Oak Ridge Corridor and the abundant scientific research and quantum computing facilities available to entrepreneurs are a game-changer for startups tackling the most critical issues of our future.
Ten startups will be selected to participate in each annual accelerator class where they will receive funding and hands-on mentorship from Techstars, Oak Ridge National Laboratory, Tennessee Valley Authority and the University of Tennessee networks, access to workshops and resources. organized and admission to the Techstars Global Lifetime Network. By bringing these startups to Oak Ridge-Knoxville, the program will support and stimulate the growth of the region’s entrepreneurial ecosystem.
CEOs from the three partners will discuss the accelerator today at the Tennessee Valley Corridor Summit at the University of Tennessee.
“Research and technology from ORNL and the companies that grew up here have made a difference in lives around the world,” said Thomas Zacharia, director of the Oak Ridge National Laboratory. “Over the next three years, the Techstars accelerator will attract high potential companies in areas that will define the economy for generations to come. This is a unique opportunity to share the great strengths of our region with aspiring entrepreneurs.
The inaugural class of the Techstars Industries of the Future accelerator will operate over a three-month period from January 2022 to April 2022. Applications will be open for the first year of the program on July 19, 2021 and will be accepted until October 6, 2021.
“The University of Tennessee is committed to being an economic engine for the region,” said Randy Boyd, president of the University of Tennessee. “The resources available with our partners and through the Techstars Industries of the Future accelerator will make Knoxville a world-class location for cutting-edge technology startups to benefit people and create jobs. By working together, this initiative will catalyze tremendous entrepreneurial growth for the future of our region.
“Today, innovative start-ups have the opportunity to deliver impactful benefits, similar to those almost 90 years ago, when TVA first brought life-changing electricity people of this region whom we are privileged to serve, ”said Jeff Lyash, CEO of TVA. “We look forward to supporting companies participating in the Techstars Industries of the Future accelerator to develop advanced solutions with enormous energy, economic and environmental benefits for the people of the valley, the country and the world. ”
Startups interested in the program are encouraged to find out more by visiting the Techstars Industries of the Future Accelerator Page or show interest here. Companies interested in corporate innovation partnership opportunities with Techstars can find out more about techstars.com/societies.
The Techstars global network helps entrepreneurs succeed. Founded in 2006, Techstars started with three simple ideas: entrepreneurs create a better future for everyone, collaboration drives innovation, and great ideas can come from anywhere. Now, our mission is to empower and benefit every person on the planet to contribute to and benefit from the success of entrepreneurs. In addition to leveraging acceleration programs and venture capital funds, we do so by connecting startups, investors, businesses, and cities to help build thriving startup communities. Techstars has invested in over 2,500 companies with a combined market capitalization of over $ 207 billion. www.techstars.com
About the University of Tennessee
Founded in 1794, UT is big on tradition, and is proud of its beginnings as the first public charter university west of the Appalachian Division. The UT system accommodates approximately 50,000 undergraduate and graduate students statewide, and more than 11,000 students graduate from UT campuses each year. The provision of education, discovery, awareness and public service of the UT system contributes to the economic, social and environmental well-being of all Tennesséens.
About the Oak Ridge National Laboratory
Oak Ridge National Laboratory is the United States Department of Energy’s largest science and energy laboratory, conducting basic and applied research to provide transformative solutions to pressing energy and security problems. ORNL’s diverse capabilities span a wide range of scientific and engineering disciplines, enabling the lab to explore fundamental scientific challenges and conduct the research necessary to accelerate the delivery of market solutions.
About the Tennessee Valley Authority
the Tennessee Valley Authority supplies electricity to 153 local power companies serving 10 million people in Tennessee and parts of six surrounding states, as well as directly to 57 large industrial customers and federal facilities. We don’t get taxpayer funding; rather, our income comes from the sale of electricity. TVA also provides flood control, navigation, and land management for the Tennessee River system, and assists local power companies and regional governments in their economic development efforts.
Tiffany Utsman Carpenter
University of Tennessee
Oak Ridge National Laboratory
Tennessee Valley Authority