SSR - August 23, 2024
A big thank you to Wilmington, NC-based Southern Startup reader, Jim Roberts, who contributed an op-ed this week on how start-up startups can build momentum after the summer months. See the highlights below and read the full article here.
"Yep, keeping your motivation as an entrepreneur in the Summer can be tough.
But keeping your investors happy with the positive momentum in the quarterly report does not take summer months off even if it is tempting to play “work hookey” with the kids while they are out of school.
This is a good time to pass your competition while they enjoy the extra margarita at the pool. To be clear, even entrepreneurs need to take time off to decompress. But some entrepreneurs lose track, especially here in the coastal Southern states.
While Summer may feel slow for your business as you struggle to reach the decision-makers you need at your sales prospects or an investor’s offices, it gives you time to prepare and apply for opportunities in the Fall.
So pour a cold adult beverage, if that is your thing, and take some time to apply for the opportunities below that your competition is missing."
Louisiana
Congratulations to Professor Index, a startup founded by an LSU professor, on winning the Nexus Louisiana PitchBR competition. Professor Index is a SaaS platform that aims to transform higher education by allowing students to evaluate their academic experience. Interest Forms are open for Opportunity Machine's Fall 2024 Builder Program 1.0. Builder Program 1.0 is a Lafayette-based accelerator program for idea to seed-stage startups. It empowers participants to de-risk their startup concept, develop a lean business model centered around customers, craft a clear and compelling value proposition, and establish vital connections with potential customers and early adopters. The deadline to apply is August 30. StartupNola announced it would hold an Access to Capital Program event on September 18. The event will bring investors together from across the state and include a pitch competition, angel investing education, and networking for groups in the space. Learn more about the event here.
Alabama
Congratulations to NephSol, Inc. and Zone.Protects who competed in a field of eight finalists to earn a combined $75,000 in non-dilutive funding in the Alabama Launchpad Cycle 2 2024 Finale. Alabama Launchpad, a program of the Economic Development Partnership of Alabama (EDPA), partnered with Innovate Alabama to host the finale at The University of Alabama in Huntsville’s Invention to Innovation Center (I2C) on Thursday, August 15, 2024. gener8tor, The Apollo Foundation, and the E-Center are working together to offer free rent for an entire year at MidCity to three out-of-state entrepreneurs willing to relocate to Huntsville, AL, by the end of this year.
Arkansas
Congratulations to Bentonville-based Fr8relay on a $1M Grant from the National Science Foundation. The grant will help the company advance its machine-learning model that helps trucks improve shipping times. Learn more about Fr8relay at The Venture Center's VC Tech Event on August 27. RSVP Here.
Florida
Congratulations to two Miami-based software companies on closing funding rounds. BeMe Health announced a $12.5M Series A round to develop its mental health platform aimed at helping teens. The investment makes BeME Health the most significant investment for Hesperia Capital. TEDU on closing $2M in Seed-1 funding. Cofounders Capital led the round and will help the company grow its EdTech platform. HIPstr, the early-stage investment arm of HighPost Capital, announced it had raised $100M to deploy in consumer growth and consumer technology companies. In acquisition news, C3 Complete, a Delray Beach company, announced the acquisition of TRACI.net, and Lockheed Martin announced it would acquire Boca Raton-based Terran Orbital in a deal valued at $450M.
Georgia
Congratulations to AI-driven hair care company MYAVANA, which announced it had raised $5.9M in seed investment. Several high profile investors led the round, including Prisma Ventures (Ulta's innovation fund). A new clean tech accelerator announced it would make it's way to Atlanta. Cox Cleantech Accelerator will be a combination of Cox Enterprise and gener8tor and will award companies accepted to the program a $100,000 investment, coaching, and education. Finally, M3, a Georgia-based hospitality analytics company, announced it had received a majority of investment from Blackstone. The growth investment was made in partnership with the American Asian Hotel Owners Association.
Mississippi
Innovate Mississippi announced its 2024 CoBuilders Cohort, featuring eight startups across Mississippi! These companies will embark on a 12-week journey, honing their products, business plans, and pitches with the help of expert mentors and the Innovate MS team. This leads to the big Pitch Day on November 19th, kicking off the 25th Annual Accelerate Conference in downtown Jackson.
North Carolina
Another GIANT thank you to Jim Roberts, Founder of the Network for Entrepreneurs in Wilmington and WALE Angel Network in Wilmington, for sharing our op ed post this week. Check out the post for how startups can keep momentum through the summer heat and for some exciting grants and programming in North Carolina.
Congratulations to Raleigh-based Levitate on announcing a $15M Series D round to expand its marketing and AI platform. And, congratulations to software engineering intelligence platform Allstacks on its announcement of closing a $10M Series A.
South Carolina
SCRA announced it would award nearly $4 million to South Carolina colleges and universities to accelerate innovation in the state. The funds will create two tracks: the first to bring lab technologies to market and the second to propel innovation in the state. The award will be distributed among five universities.
Tennessee
Congratulations to the finalists for Nashville's 2024 Next Awards, which were announced this week. The Next Awards honor businesses across different categories, including recognizing those in the startup community. The ceremonies will be hosted on October 21. Knoxville-based organization PYA announced that a panel looking at raising capital in East Tennessee will be added to its Innov865 startup week lineup.