Investors Pour $280 Million Into Tennessee Startups

Surges in Growth Stage Investment and Diversification of Business
Sectors Validate Maturation of Tennessee as a Startup Mecca

NASHVILLE, Tenn.–(BUSINESS WIRE)–Launch Tennessee (LaunchTN) announced today that Tennessee businesses
attracted more than $280 million from investors in 2015, bringing
aggregate investment in the state’s startups to more than $945 million
since the private-public partnership began tracking investment data in
2012.

Investment activity last year was marked by a 7% increase in aggregate
capital raised, with an 11% spike in investments greater than $3
million. Spurred by diversification across emerging sectors like music,
logistics and medical devices, investment in startups outside the
strongest industries — healthcare and technology — more than
quadrupled year over year.

“The spectacular growth of Tennessee as a center for startup innovation
is a testament to the entrepreneurial culture of the region and has been
exciting to watch,” said Charlie Brock, CEO of LaunchTN. “Entrepreneurs
and investors alike sent a strong message in 2015 that Tennessee is a
fantastic place to launch a new business as we increased our investment
total following a record year in 2014.”

At the current investment rate, total capital raised by Tennessee
startups will eclipse $1 billion early this year, well ahead of
LaunchTN’s target date of 2017.

LaunchTN’s flagship entrepreneurship conference and culture celebration
36|86 is slated for June 6-7, 2016 at Schermerhorn Symphony Center in
Nashville. A regional series of pitch events will lead up to this
national event highlighting the best of culture and entrepreneurship in
Tennessee and the Southeast.

About Launch Tennessee – Launch Tennessee (LaunchTN) is a
public-private partnership dedicated to supporting high-growth
entrepreneurs with the goal of making Tennessee the No. 1 state in the
Southeast for entrepreneurs to start and grow a company. Through nine
accelerators that it oversees, LaunchTN provides training, technical
support, and assistance obtaining capital for promising early-stage
companies. Visit LaunchTN.org
to learn more about what makes Tennessee the best place for innovative
tech companies.

Contacts

For Launch Tennessee
TJ Lane, 404-934-0794
tj@write2market.com