EPICENTER’S ANNUAL REPORT 2020
ANNUAL REPORT ANNUAL REPORT ANNUAL REPORT ANNUAL REPORT ANNUAL REPORT ANNUAL REPORT ANNUAL REPORT
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EPICENTER
ANNUAL REPORT 2020
WELCOME TO OUR ANNUAL REPORT In reflecting on a year that was forever marked by the change it created, an entrepreneurial mindset – a business owner’s superpower, a part of what we teach and impart on new founders, a value within our own organizational culture – is ultimately what helped us navigate 2020. That’s the thing about entrepreneurs – their mindset creates resilience and a drive to always find a better way. It’s local entrepreneurs’ mindsets and their countless stories of how they pivoted products or service delivery that have continued to inspire our staff and our community. While we weren’t in their shoes and couldn’t possibly know their experiences firsthand, we tried to walk alongside local entrepreneurs, gathering resources, offering guidance where we could, taking on bigger conversations on their behalf, and always centering our work around them. As the COVID shockwave emerged last spring, an entrepreneurial mindset helped drive our coordination among a network of economic development organizations in Memphis and Shelby County. It turns out that an existing, well-connected, collaborative ecosystem of partners was critical to being able to strategically respond to the crisis. Through this network, we shared ever-evolving resources, disseminated information efficiently, and cross-referred businesses among each other to ensure local businesses had access to all available relief.
ANNUAL REPORT 2020
Change came to our organization, too, in the form of a leadership transition, exploration of a new office space, and responses to calls for social justice by increasing the intentionality with which we serve Black business owners. Our entrepreneurial mindset allowed us to navigate these changes, more clearly define our work and customers, innovate how we deliver services, and pivot quickly to meet the previously unimaginable. Most of all, 2020 strengthened our core belief that entrepreneurs and small business owners are the essential and cultural heart of our economy, and that we should never take their contributions for granted. We hope this has been the case for you, too. In this report, we look back at the year that changed it all, steeling our expanding entrepreneurial mindset for what’s next.
Jessica Taveau
President and CEO
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EPICENTER
ANNUAL REPORT 2020
TABLE OF CONTENTS Epicenter Response to COVID-19.................................6 Highlights: Partnerships..............................................8 Highlights: Capital ......................................................12 Highlights: Programming ...........................................14 Highlights: Customers.................................................16 Highlights: Culture......................................................16 Highlights: People ......................................................18
ANNUAL REPORT 2020
ANNUAL REPORT 2020
EPICENTER
HIGHLIGHTS OF OUR WORK
PORTFOLIO PERFORMANCE
1,675
71%
47
ENTREPRENEURS ENGAGED TO DATE
OF OUR PORTFOLIO ARE ENTREPRENEURS OF COLOR
ECOSYSTEM PARTNERS ENGAGED
- DEMOGRAPHICS OF ENTREPRENEURS SERVED -
57%
Latinx 5%
OF BUSINESS OWNERS IN OUR PORTFOLIO IDENTIFY AS WOMEN
Other 2% Asian 4%
White 27%
42% Black 62%
OF BUSINESS OWNERS IN OUR PORTFOLIO IDENTIFY AS MEN
1%
OF BUSINESS OWNERS IN OUR PORTFOLIO IDENTIFY AS NON-BINARY.
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EPICENTER
ANNUAL REPORT 2020
EPICENTER RESPONSE TO COVID-19 In mid-March, our team began gathering and analyzing the continuously changing landscape of resources available to startups and small businesses that were beginning to experience economic distress. Our strategy included:
RESOURCE LIST
One of our first actions was to begin aggregating known resources for local entrepreneurs and to create a dedicated space on the Epicenter website for the list, which was updated on a daily basis. The list can be viewed here.
• Gathering local, regional, and national grant and loan opportunities for various business types from public and private resources, including philanthropy and corporations. • Surveying members of the Memphis Investment and Advisory Club to gauge interest in hearing virtual pitches and making angel investments. • Building and piloting Epicenter-led capital products where there were funding gaps, especially for microbusinesses, including expansion of our Friends and Family Fund.
COVID-19 INTAKE
EXPERT MENTORS
CAPITAL LANDSCAPE
EPICENTER WORKSHOPS
While our intake form on our website was still active, we created a separate intake and data collection form to triage entrepreneurs’ requests for support specifically related to COVID-19. Predictably, most of our work was around needed capital resources so we could understand current offerings and the gaps in our system. Actions our team took included: • Participating in multiple calls with local banks and convening a meeting of local CDFIs to understand rapidly changing guidelines and products offered to clients. • Analyzing federal disaster relief provided by the SBA—The CARES Act, Paycheck Protection Program (PPP) and the Economic Injury Disaster Loan (EIDL) — and recommending related actions and technical support to portfolio companies.
We pivoted our Experts-in-Residence resource — both generalists and subject-matter experts — and deployed them in 30-minute, one-on-one sessions to address any emergency/COVID-19-related needs of portfolio companies.
We worked closely with our entire ecosystem of partners to promote helpful webinars and educational opportunities to entrepreneurs. Where there were gaps in this information, we created several virtual workshops, including: Covid Crisis HR, Wellness Wednesdays with selfcare Expert-in-Residence, Jacqueline Oselen, and phased-based programming for re-opening the workplace.
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2020 OUTCOMES & DATA FROM COVID-19 BUSINESS SUPPORT INITIATIVES ENTREPRENEURS SUPPORTED
General Intake Applications: COVID-19 Support Applications:
247 147
DIRECT SUPPORT FOR BUSINESSES AFFECTED BY COVID-19:
BLACK BUSINESS MATTERS:
COVID-19 RELATED DISASTER RELIEF CAPITAL
Written by Anthony Young, Director of Capital Programs for Epicenter
Black-Owned Businesses: Minority-Owned Firms: Women-Owned Businesses:
87% 93% 65%
Total Dollars Deployed: $139,550 Total Firms Funded: 46 Average Grant Size: $3,034
DEMOGRAPHIC BREAKDOWN Black-Owned Firms : Minority-Owned Firms: Women-Owned Firms: Black Women-Owned Firms:
87% 93% 65% 61%
Making COVID-19 Relief Equitable for Our Most Vulnerable Entrepreneurs
Before the CARES Act had been signed into law or the Paycheck Protection Program (PPP) had been fully described, those of us working in entrepreneurship had reviewed drafts of the criteria, which stated that PPP loans would be primarily distributed to entrepreneurs through banks where they had an existing credit relationship. I immediately grew skeptical and braced myself for the frustration that certainly would come. In the midst of a nearly unprecedented crisis, in which so many businesses are afraid for the future, I worried that the lifeline created by the government would be exasperatingly difficult to reach for many of our entrepreneurs. READ MORE ON MEDIUM >>>
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ANNUAL REPORT 2020
HIGHLIGHTS OF OUR WORK
PARTNERSHIPS “We want joy to be seen as a human right, not something accessible based on privilege.” Ebony Archie & Coresa Hogan Owners of MEMFOLK VIEW STORY VIA CO.STARTERS
CO.STARTERS At the start of 2020, Epicenter had plans to host several CO.STARTERS cohorts throughout the year, both at our CooperYoung location and in the neighborhoods of targeted community partners. Soon after the launch of our first cohort with Power Center CDC, the City of Memphis initiated safety protocols due to COVID-19. We collaborated with CO.STARTERS and Power Center to quickly pivot our cohort to meet on Zoom for the remainder of the sessions, though some participants found it challenging to use the video software for three hours at a time. Ultimately, several community partners had to pivot to focus on supporting existing struggling businesses, so we all agreed to postpone the cohorts until 2021. Epicenter hosted a second virtual cohort in fall 2020, which offered a prize to one winner of a pitch competition during Celebration Night.
The winner of that competition was Laura Cheston, who received a $5,000 Friends & Family grant to help develop FindYa, a GPS tracker that locates your children, pets, runners, the elderly, and those with special needs through a mobile app. A total of 11 participants graduated, whose nine businesses included food concepts, consultancies, a secondchance home, and a traveling bar. Guest speakers were: Greater Memphis Financial Empowerment Center, Louisa Shepherd, Kimberlee Deneice Richards, Idicula Mathew, Jimmie Strong, Joel Rose, Jenean Morrison, Nate Smith, Clark Kelman, Brittanie Young, Diamond Taylor, Matthew McLaughlin, Jiljuana Coleman, Liz Kinnmark, Araba Esoun, Coresa Hogan, Ebony Archie, Emily Rooker, Kevin White, Emily Strack, and Jacqueline Oselen.
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PARTNERSHIPS
FRAYSER CONNECT, POWERED BY MASSMUTUAL FOUNDATION In 2020, Epicenter began the hiring process for Frayser Connect, an investment by the MassMutual Foundation in a collaborative economic and community development initiative among Frayser CDC, Epicenter, and RISE Foundation that aims to build local residents’ financial and social capital. Epicenter worked alongside the CDC to vet potential spaces that could function as the Frayser Connect hub and to plan activities to maximize partnership engagement and increase Frayser entrepreneurs’ awareness of the project in 2021. Currently, Epicenter has hired two of three Frayser Connect positions: a Community Engagement Manager and a Program Manager.
Both hires will work exclusively on Frayser Connect and are expected to expand entrepreneurial programming in the area throughout 2021. Later in the year, Epicenter will hire a capital portfolio officer to oversee the deployment of capital in the neighborhood. Frayser CDC is in the process of finalizing the hiring for a Connector role who will manage the project’s resident advisory board, oversee the entire project, and work closely with the Epicenter hires. In 2021, Epicenter’s Frayser connect team will focus specifically on the execution of one cohort of CO.STARTERS, 30/60/90 Roadmap, and several Get Started workshops. They will organize a virtual town hall for business owners in Frayser, set up EIR office hours, and identify partners who work with Frayser businesses. The Epicenter team will also support Frayser CDC with the programming of an existing space that was recently gifted to the CDC and will act as a central location for Frayser Connect.
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EPICENTER
HIGHLIGHTS OF OUR WORK
PARTNERSHIPS PATENTS2PRODUCTS The University of Memphis and Epicenter partnered to create a new program designed to encourage post-doc fellows to start businesses, utilizing patented intellectual property developed both in Memphis and across the United States. The Patents2Products Post-Doc program creates a two-year funded position for research entrepreneurs and provides them with the necessary tools for launching a successful startup. Despite pandemic-related delays, one deepscience startup, Nuvelus, launched in 2020, with three more – MakeScope, Nutt Bio, and PopCheck Technologies – launching in 2021.
A closer look: How MakeScope is going from patent to product John Klyce | Memphis Business Journal When Cong Van started working with super resolution microscopes, he didn’t plan on starting a company. In fact, when MBJ asked him why he developed an interest in the devices, his initial answer was simple — essentially, it was because “they’re cool.” Read Full Story
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ANNUAL REPORT 2020
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PARTNERSHIPS
THE 800 INITIATIVE Together with our partners – the City of Memphis, Christian Brothers University, FedEx, and Start Co. – the support services for Blackowned firms coordinated by the 800 Initiative became even more important during 2020. By the end of the year, the Initiative had served nearly 50 Black- and minority-owned businesses in the Memphis area through technical assistance, customer connections, and access to capital. Epicenter also partnered with Christian Brothers University to distribute $200,000 in CARES Act funds from Shelby County to 38 Black- and minority-owned firms affiliated with The 800 Initiative. The Initiative is made possible through a number of supporters, including the City of Memphis, Shelby County, and FedEx, which
have provided steadfast operational and capital funding to scale the Initiative. In addition, JPMorgan Chase has been a critical supporter of Epicenter’s role in The 800 and made it possible for entrepreneurs to receive services from Epicenter’s Experts-in-Residence and CO.STARTERS programs, in-kind staff support, as well access to critical capital. JPMorgan Chase also provided Epicenter with vital and strategic organizational resources through its corporate volunteer program. The 800 Initiative was evaluated in 2020 to gain an understanding of the partners’ learnings to date, as well as critical feedback from founders who have taken part in the Initiative to strengthen and scale resources for even more Black-owned firms in Memphis and Shelby County. The Program will continue to scale in 2021.
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EPICENTER
ANNUAL REPORT 2020
HIGHLIGHTS OF OUR WORK
CAPITAL
FRIENDS AND FAMILY:
Traditional Fund # of Companies
Black-Owned
Minority-Owned
Women-Owned
Total
14
71.43%
78.57%
78.57%
$252,555.00
COVID RELIEF FUND
CARES ACT FUND
Friends and Family Relief Funding Friends and Family Relief Funding
Friends and Family Relief Funding
Total Dollars Deployed
Total Dollars Deployed
$139,550
On behalf of Christian Brothers University for The 800 Initiative $124,998.45
Total Firms Funded
46
Total Firms Funded
12
Average Grant Size
$3,034
Average Grant Size
$10,416.54
Black-Owned Firms
87%
Black-Owned Firms
100%
Minority-Owned Firms
93%
Minority-Owned Firms
100%
Women-Owned Firms
65%
Women-Owned Firms
42%
Black Women-Owned Firms
61%
Black Women-Owned Firms
42%
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CAPITAL MEMPHIS SMALL BUSINESS OPPORTUNITY LOAN FUND A PARTNERSHIP WITH PATHWAY LENDING • $3,176,000 Loans Deployed • 30 Companies Funded • 90% Minority-Owned Firms
MEMPHIS INVESTMENT AND ADVISORY CLUB Thirteen companies pitched at Memphis Investment and Advisory Club in 2020, raising a total of $1,070,000 in angel investment. Overall, Memphis-based startups raised $2,460,000. Six of the 13 companies had a female founder and four of the 13 had a minority founder. Due to the pandemic, we were unable to host our in-person MIAC events, but we continued to host monthly events over Zoom and are grateful to our angel investors for remaining active and engaged with the entrepreneurial community, even though the events were less interactive. We finished off our year with a video update from multiple companies and an informative presentation about economic development and the impact of investing in Memphis from Epicenter Board Member Kojo McLennon.
FORMATION FUND: Epicenter Formation Fund invested a cumulative $155,000 in four companies in 2020. Three of the 4 companies are founded and led by Black entrepreneurs, and three of the four are founded and led by female entrepreneurs.
EPICENTER HELPS GET BLACK-OWNED BUSINESSES OFF THE GROUND IN MEMPHIS By April Thompson for WREG
MEMPHIS, Tenn. — Business ownership is one key to wealth, and a center in Memphis is helping entrepreneurs unlock what it takes to make it on their own. Epicenter has a special focus on making sure African American-owned businesses thrive. The small center, located in the Cooper-Young neighborhood, is an entrepreneur’s dream. “Studies show many small businesses feel they will be declined for capital before they even apply,” said Anthony Young, the capital executive of Epicenter. That’s why Epicenter is connecting businesses with the grants and loans that will allow them to grow — especially Black-owned businesses. Epicenter has helped more than 1,000 entrepreneurs and 500 businesses since 2015. Sixty percent of those were African American. “Particularly in a city like Memphis, which is predominantly Black, I think it helps to support the local economy as well as helping to bridge the wealth gap,” Young said. Read More>>
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EPICENTER
HIGHLIGHTS OF OUR WORK
PROGRAMS YEAR-ROUND GROWTH PROGRAMMING AND CURRICULA We piloted a new program aimed at growth-stage companies looking for strategies and tools to help them plan for the future and scale to new heights. This pilot engaged three alumni of the ZeroTo510 accelerator for medical device startups and provided a curriculum leveraged in part from the globally recognized Kauffman Foundation FastTrac, with added tools, templates and guest speakers. Topics focused on those issues key for existing businesses, including setting a three-year vision, streamlining your sales strategies and preparing for organizational expansion and hiring. We look forward to rolling this industryagnostic program out again in 2021, not just for innovation-driven startups, but also for other small to mid-sized Memphis businessess poised for growth. We’re also excited to bring additional resources to the program, including access for individual office hours with Epicenter’s team of Experts-in-Residence.
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ANNUAL REPORT 2020
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HIGHLIGHTS OF OUR WORK PRE-ACCELERATION PROGRAMMING Memphis is home to several startup acceleration programs that focus on providing early-stage tech founders with the right mentorship, advice, and key resources to help their startups succeed. These intensive startup accelerators are strategically designed to operate at a fast pace with the end goal of accelerating the timeline needed for early-stage businesses to become ready for capital investment. In 2020, in partnership with Start Co., we pivoted our traditional accelerators to a pilot pre-accelerator in a virtual environment for early-stage businesses to strengthen their ideas, gain startup experience, and increase their odds of acceptance into acceleration programs. Using learnings from the pilot program, in 2021, ZeroTo510 and Epicenter partnered to develop The Innovation Lab, a virtual pre-acceleration program with a curriculum designed to guide founders with idea-stage business concepts through the rigorous process of developing an effective business plan. Pre-accelerator participants will spend five weeks alongside their peers, business coaches and subject-matter experts who will help them validate their ideas and prepare them for the rigor of a full-time startup accelerator. The first Innovation Lab is expected to take place in Q3 of 2021.
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EPICENTER
ANNUAL REPORT 2020
HIGHLIGHTS OF OUR WORK
CUSTOMERS B2B COALITION As the COVID-19 crisis reshapes supply chains around the world, there has never been a more important time to strengthen the locally owned Business to Business (B2B) supplier sector in Memphis. Epicenter, Memphis Medical District Collaborative, and the Greater Memphis Chamber (MMDC), and U3 Advisors are working together to lay the foundation for a citywide local procurement strategy based on the successful local program implemented in recent years by the MMDC in partnership with U3 Advisors.
CULTURE AFROTECH X MEMPHIS Epicenter and Memphis Brand Initiative partnered with Afrotech to introduce Black tech entrepreneurs and startup founders to the thriving entrepreneurial ecosystem in Memphis. The first of a multi-year engagement with Afrotech, the campaign leveraged culturally relevant content and a targeted distribution strategy to increase awareness of the ecosystem’s entrepreneurs, resources, programs, and opportunities available for Black founders.
The campaign included the following assets: • Branded editorials on Afrotech’s website featuring founders in the Greater Memphis Region
• Branded newsletter takeovers, targeting Afrotech’s core audience • Social media promotion to support editorials and drive attendance for virtual events • Afrotech All-Access summit: Building your Startup in the South • Facebook Live Event: Everything you need to know about Accelerators The ongoing nature of COVID-19 prompted a shift from hosting a planned in-person event in Memphis, but we were able to expand our initial audience by pivoting into a virtual format. The campaign was a great success that delivered and surpassed our goal by 148%.
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AFROTECH X MEMPHIS With support, equitable access to networks, capital and more, this organization is helping Black women succeed and thrive in the city of Memphis in exceptional ways. And they’re already beginning to see the fruits of their labor; according to the Epicenter 2019 Impact report, Venture Capital Investment Distribution from 2015-2018 shows that the city of Memphis provided 12 percent venture capital funding to minority women (compared to the national average of less than one percent.)
HOW THE CITY OF MEMPHIS’ ENTREPRENEURIAL ECOSYSTEM IS HELPING BLACK WOMEN’S BUSINESSES THRIVE By Brianna Rhodes for Afrotech
For countless years, Black women have had to justify their need for support and respect in seemingly every area of their lives, including their business endeavors. According to recent reports, while women of color opened more businesses in 2019 than any other demographic, they are still historically underfunded — receiving less than one percent of venture capital funding. Recognizing the severity and far-reaching consequences of this disadvantage early on, the city of Memphis set out to level the economic landscape through several key initiatives, including, Epicenter: a non profit organization supporting entrepreneurs and creators in the greater Memphis area.
While encouraging, Epicenter knows there is still much work to be done to ensure these numbers reflect the population demographics, and is bullishly dedicated to reaching this milestone. Erica Plybeah and Trinette Johnson-Williams are both alums of Epicenter programs, and phenomenal examples of how the Memphis entrepreneurial ecosystem is built to propel Black women business owners forward. Plybeah is the owner of MedHaul, which is a B2B platform that makes it easier for healthcare providers to find and book safe, skilled transportation for the most vulnerable patients. Johnson-Williams is the owner of woodwork and project management company, TJ Builds, LLC. She designs and builds custom woodwork and offers residential/commercial construction management and project liaison services. Both women spoke to AfroTech about their personal experiences as entrepreneurs in Memphis and how Epicenter’s programs have helped their businesses grow. READ MORE ON AFROTECH >>>
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EPICENTER
ANNUAL REPORT 2020
HIGHLIGHTS OF OUR WORK
PEOPLE
TALENT PROGRAM Epicenter’s Talent Program explored a new model in early 2020. While in prior years, Experts-in-Residence were assigned to individual programs or cohorts, we wanted to be sure that more entrepreneurs in the ecosystem including those of our partners - could access strategic coaching in areas like general business ownership, marketing, sales, financials, operational efficiency and self care. This new model also better facilitates collaboration among the EIRs, so that entrepreneurs can be supported by multiple members of the talent team. One of the greatest success stories was Epicenter’s COVID response, as our team aggregated opportunities for local startups and small businesses to receive guidance and coaching through virtual office hours with Epicenter’s EIRs.
Christopher Lee, EIR
The team was able to support dozens of local business owners, from walking them through local and federal relief funds available, to identifying opportunities to pivot their services or business models during the pandemic and its many impacts. The new model for talent support has been successful, and we look forward to engaging this team with even more possibilities in 2021. Opportunities include mentoring CO.STARTERS Roadmap companies through strategic milestonesetting, providing custom 1:1 support for those companies in upcoming Growth Program cohorts, and being able to offer coaching for those businesses seeking local capital.
ANNUAL REPORT 2020
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OUR TEAM
JESSICA TAVEAU
JAN BOUTEN
NANCY BROWNLEE
SHANDRIA CARTER
President and CEO
Chief Investment Officer
Program Manager, Frayser Connect
Manager of Community Engagement, Frayser Connect
FAITH CHOI
FAYRE CROSSLEY
DANIELLE GORE
WHITNEY HARDY
Events and Outreach Specialist
Chief Grants and Compliance Officer
Senior Manager, Innovation Programs
Chief Capacity Officer
RUSSELL INGRAM
KERRI MALONE
LOUISA SHEPHERD
TAYLOR SHERBINE
Chief Operating Officer
Director of Partnerships
Director of Collective Impact
Community Manager
TONDA THOMAS
JONEL TURNER
ASHLEY WEAVER
ANTHONY YOUNG
Office Manager
Director of Marketing Communications
Program Coordinator
Director of Capital Programs
THANK YOU TO OUR PARTNERS: Advance Memphis AgLaunch Arrow Creative Binghampton Development Corp. Black Business Association Center for American Entrepreneurship Christian Brothers University Center for Entrepreneurship + Innovation City of Germantown City of Memphis Communities Unlimited Community Lift EDGE FedEx
Frayser Community Development Corporation Greater Memphis Chamber and Chairman’s Circle Hope Credit Union ICIC InBIA Indie Memphis Film Festival Innova Junior Achievement Kudzukian Launch Tennessee LeMoyne-Owen College LITE Memphis Lift Fund MB Venture Partners Memphis Bioworks Foundation
EPICENTER
Memphis Brand Initiative Memphis Center for Urban Theological Studies Memphis Medical District Collaborative Memphis Public Library MEMShop MMBC Continuum NAWBO Pathway Lending Power Center Academy Rhodes College RISE Foundation River City Capital Sage Fund I SCORE Memphis
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Shelby County Small Business Development Center Society of Entrepreneurs Southwest Tennessee Community College SSM Partners Start Co. State Science and Technology Institute Tri-State Bank of Memphis United Housing University of Memphis, Crews Center for Entrepreneurship and FedEx Institute of Technology University of Tennessee Health Science Center Urban Arts Commission Visible Music College
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EPICENTER
ANNUAL REPORT 2020
BOARD OF DIRECTORS David S. Waddell, Chair
Kojo McLennon
CEO and Chief Investment Strategist Waddell and Associates
Portfolio Manager, Private Equity & Real Assets Gerber/Taylor Management Co.
Richard Smith, Vice Chair
Andrew Seamons
Regional President of The Americas and Executive Vice President for Global Support, FedEx Express FedEx
Chief Investment Officer HF Capital
Spence Wilson, Jr., Treasurer
Owner Prestigious Logistics
Principal Kemmons Wilson Companies
Shea Flinn
Philip C. Spinosa, Jr.
Dr. Lisa Wade
Consultant
Director, Hayes Center for Practice Excellence Southern College of Optometry
Kayla Graff
Alfred Washington
Co-founder and CEO SweetBio
Owner and CEO Top Notch Security
THANK YOU TO OUR INVESTORS: The Albert Jay Martin Family Foundation Allen B Morgan, Jr Anonymous Bank of America Charitable Foundation Bob Loeb Boyle Investments Chairman’s Circle of the Greater Memphis Chamber Crews Family Foundation David Waddell
Duncan Williams, Inc Emerge Memphis Eustis Corrigan, Jr Ewing Marion Kauffman Foundation FedEx First Horizon National Corporation Gary Wunderlich George E. & Bena Cates Hyde Family Foundation Independent Bank
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LOOKING AHEAD Here’s a preview of what you can expect from the Epicenter team in 2021: • Scale the Memphis region’s entrepreneurship ecosystem, strengthen its competitiveness, connect it to regional economic development initiatives, and ensure local and recruited founders can access resources easily and efficiently throughout their entrepreneurial journey • Identify, develop, connect, and deploy accessible and appropriate capital appropriate to different types and stages of businesses
• Partner with neighborhood-based organizations to embed accessible resources in geographies around Shelby County • Market the Memphis region to entrepreneurs and investors as a welcoming and inclusive ecosystem of investable companies • Amplify local entrepreneurs’ voices and needs locally, regionally, and nationally, and advocate at the local, state, and national levels for entrepreneurial policies and regional resources that benefit the Memphis region
• Evaluate and develop a long-term strategy to grow and recruit high-growth, tech-enabled businesses in industries of strength and emerging technologies
Invest in Memphis Donations to Epicenter, a 501(c)(3) organization, help scale programs and investment for entrepreneurs across our region. You can also support entrepreneurs by donating your time via mentorship, expertise and general business support by e-mailing us at info@epicentermemphis.org.
John Dobbs Dr. John Smarrelli JPMorgan Chase Foundation Karen F. Cox Kayla Graff Kojo & Gretchen McLennon Kresge Foundation Martin Family Foundation MassMutual Foundation Mel and Bud Richey
Neely Mallory Pathway Lending Pinnacle Financial Partners Regions Bank Shelby County Society of Entrepreneurs Spence & Becky Wilson Spence & Stephanie Wilson Tennessee Department of Economic and Community Development - Launch Tennessee U.S. Economic Development Agency
150 Peabody Place Lower Level Memphis, TN 38103 epicentermemphis.org