SSR - August 9, 2024
As summer ends and kids start returning to school, fall's entrepreneurship schedule kicks off. This issue is packed with fall events, pitch competitions, and accelerator deadlines. Check them all out on our Events Calendar.
As the Olympics close this weekend, I wanted to share this article about the connection between athletes, entrepreneurship, and overcoming challenges to reach your goals.
Louisiana
There was a lot of activity in Louisiana since the last report. Glass Half Full, a Louisiana-based glass recycling company, announced a $6.5M seed funding led by Benson Capital. The company will use the funds to build a new recycling facility in South Louisiana. The announcement came on the heels of Louisiana's win of the Green Shovel Award for it's commitment to clean energy jobs and output. Ochsner Health announced a $10M Louisiana Innovation Fund to invest in Louisiana-based venture and seed-stage companies. The fund was launched in partnership with the Louisiana Economic Development (LED) through the State Small Business Credit Initiative (SSBCI). Another Louisiana startup made a big announcement. Bloom Booking, a member of the Nexus Louisiana Tech Park, announced a partnership with Full Sail University to expand the presence of it's app.
Startup St. Bernard announced it's 2024 finalists - BodyFlow Hydration, Grow Green Fingers and Natural Wellness with Nurse April - will pitch to win a $100K prize package. Read more about the finalists here. Two of Louisiana's most anticipated accelerators have opened up their fall applications. The Idea Village's IDEAinstitute, is an idea-stage accelerator that takes companies through a 10 week program. Applications close on August 27th. Registration for NexusLA's 2024 BizTech Challenge opened on August 1 and will close on October 20th. The program is a STEM-based business competition designed to promote innovation and offer professional development for minority students.
Alabama
The Innovate Alabama tax credit program announced it had awarded approximately $24 million in tax credits to economic development organizations across the state. The program, which incentivizes investment in Alabama businesses by offering a tax credit to investors, is working to support and attract investors and national incubators to the state. In other legislative news, Alabama's Working for Alabama initiative took a big step forward when Governor Kay Ivey appointed eight business leaders to the alliance. Work begins on October 1 with a mission to bring growth to the state in part by developing entrepreneurs.
Finally, don't miss eight startups competing for $75,000 in Huntsville next week at the Alabama Launchpad Cycle 2 Finale. Get your tickets here.
Arkansas
Congratulations to Bentonville-based Sober Sidekick on accepting $2.5M in seed funding. Sober Sidekick is a sobriety and recovery smartphone app that helps people struggling with addiction or recovering from alcohol or drug abuse. High Street Equity Partners led the round with participation from HealthX Ventures, Nina Capital, 46VC, and American Heart Association vet Michael Brouthers.
Arkansas startups should be aware of several upcoming accelerator deadlines, including the IdeaFame Pitch Competition in Bentonville (August 10), the Spark! Small Business Cohort in Little Rock, AR (August 14), and the Arkansas Banking Solutions Accelerator in Little Rock, AR (August 16).
Florida
Climate data collection startup Raad Labs announced a $2.25M fundraising round as gulf-front states turn their eyes toward Hurricane season. Raad Labs' innovative approach to data collection involves using blockchain technology to understand weather patterns better. Robotics startup Navigantis also announced a $12M Series A financing. The company's Neurovascular technology aims to help hard-to-reach patients after a stroke and promises to enhance outcomes and address overstressed medical personnel. And Igloo, a consumer-facing blockchain company, announced it had secured $11M in funding led by the Founders Fund.
South Florida also made news with two educational programs designed to promote entrepreneurship. The University of Miami launched an accelerator for student entrepreneurs with a $5M donation. Meanwhile, FIU announced a new degree incorporating AI into the curriculum, giving graduates a competitive edge in the growing industry.
Georgia
Loyal, an Atlanta-based healthcare platform, closed a $33.5M Series B round. Concord Health Partners led the round. Meanwhile, in Woodstock, SlicedHealth™, a healthcare platform focused on hospital management, announced a $5M Series A round. Zapier acquired Atlanta-based NoCodeOps. The NoCodeOps founders plan to go in-house with Zapier for a smooth transition.
North Carolina
In North Carolina, Charlotte-based Lucid Bots announced the acquisition of AI company Avianna, helping to advance both companies' visions of robotic technology. Wilmington-based Electronic Lab Logs announced a $3M Series A round led by Rockmont Partners. The SaaS company provides a digital platform for clinicians to track compliance and maintenance in laboratory settings. NC Idea has opened up its fall 2024 grant cycle, which lets entrepreneurs apply for grants of $10k or $50K to develop or scale their ideas. The application deadline is August 26. More information is available here.
South Carolina
Congratulations to Bubble Paper, a Greenville-based packaging company that closed a $10M Series A funding round. SC Launch Inc., the South Carolina Research Authority (SCRA) investment affiliate, participated in the round. The SCRA also announced its 2024 InnoVision Awards finalists. The winners will be announced at the InnoVision Awards Gala on November 7.
Tennessee
Nashville-based District Cover has raised over $7M in funding. The company provides an insurance solution and data-driven technology platform tailored to help cities' businesses find coverage. Nashville's entrepreneurship conference 3686 announced its speakers this week. You can see the headliners here and apply to pitch at the conference here.