Accelerator aims to grow tech companies in East Tennessee
Published 1:45 pm Thursday, June 3, 2021
KNOXVILLE (AP) — The Oak Ridge National Laboratory, the Tennessee Valley Authority, and the University of Tennessee System are partnering with Techstars to launch a startup accelerator that aims to grow 30 technology companies over three years.
TechStars Industries of the Future Accelerator will specialize in startups that solve problems using a variety of things including clean energy, artificial intelligence and digital currency, the Knoxville News Sentinel reports.
Leaders at the East Tennessee facilities say partnering with a firm that has helped startups grow into billion-dollar ventures is the beginning of a larger plan for the area to become a national destination for entrepreneurs, investors and a skilled workforce.
“We believe this is a start of a future collaboration,” UT System President Randy Boyd told Knox News. “Working together, we can make a profound impact in the community. I think Techstars is a great project by itself, but maybe the bigger story is this new degree of collaboration between these three organizations.”
The three entities will share the $9 million cost of the accelerator.