Here’s how two local businesses are making a killing in the Knoxville start-up scene.
Southeastern Packaging Technologies is changing the way we pour our liquids. SPT just patented FunLPro, the technology is a built-in funnel type spout designed for products like antifreeze and oil containers. SPT started raising funding for their anti-spill technology early on. Beginning with initial local investments from resources like The Boyd Venture Challenge and The Haslam College of Business, they eventually rose to the top of the fundingsphere. Mollenhour Gross recently gave the company a little boost… well a rather big boost … like a $700,000 boost. SPT plans to use these funds to boost the company’s profile.
Read more here.
Does it ever feel like our government is slightly behind the tech curve? Thought so. Vendor Registry is out to change that. With an incredibly motivated team and now…. lots of cash. Vendor Registry just recently closed a $1.8 Million seed round for their “doing more with less” technology. Allos Alpha, Chattanooga Renaissance Fund, The Lighthouse Fund, Cantos Ventures and VentureSouth all through their hat in the ring. We’re proud of Vendor Registries recent news, however, we’re more proud of the dedication they put into it.
Read more about Vendor Registry here.
The TENN Takeaway
Start small. Start local. Knoxville offers an immense amount of funding opportunities and pitch competitions to get your company off the ground and running. The companies mentioned above didn’t just start with the investments they received today. They took advantage of what was local, eventually rising to the top. Take advantage of the small opportunities, it adds up. Take advantage of what’s local, it’s good practice. And eventually you will make your way to that $1.8 Million you’ve always dreamed of.
On another note, look at companies like Avrio Analytics, Mom Source Network and Grow Bioplastics. These local start-ups took advantage of the annual TENN Master Accelerator program. What is the TENN Master Accelerator program, you say? Read about how these companies got involved and how you can too here.