SSR - September 20, 2024
In the last issue, I highlighted some of the states that were rated the most friendly for starting a business. This week, a CBRE report looked at the top markets for life science companies. Raleigh-Durham, Greenville, Atlanta, Orlando, and Tampa were some of the cities in our reporting area highlighted for their workforce, development programs, access to capital, and more.
The updates below include several biotech and life science stories. We'd love to hear any stories in this space. Email us to share your thoughts.
Louisiana
Congratulations to Informuta, a biotech company led by co-founders from Tulane University and the New Orleans BioInnovation Center, for receiving a $275K grant to expand their product research and development. Louisiana-based startup Quick Take Health, also based out of the New Orleans BioInnovation Center, partnered with McNeese State University to track and measure the health and vital signs of McNeese football players.
Alabama
Techstars Alabama has announced the twelve companies that will be competing in its EnergyTech Accelerator. The companies come to Alabama from across the country, and five come from international homes. The 13-week mentor program will introduce the founders to Alabama's ecosystem as they aim to grow their startups.
Goldman Sachs has announced it will expand its Investment in Rural Communities program into Alabama. The program includes $75 million to community development financial institutions to provide loans to small businesses, $15 million in funding for the business education programs at local community colleges, and $10 million in access to capital capacity-building grants.
Arkansas
Fifteen South Korean startups will participate in an accelerator program in Northwest Arkansas. The accelerator program is part of the Korea Institute of Startup and Entrepreneurship Development's (KISED) Global Market Expansion Program (GMEP). Startup Junkie is hosting a networking event with the companies on September 24th so that entrepreneurs from both countries can interact and expand their network. Check it out here.
Florida
There's exciting economic news from throughout Florida during this period. Congratulations to Orlando-based BlackCloak on closing a $17M Series B funding round. BlackCloak specializes in digital executive protection and will use the funds to enhance its cyber security platform. Saber Interactive, a Fort Lauderdale-based entertainment and video game development company, announced an investment from Aleph Capital Partners and Crestview Partners. Meanwhile, Pompano Beach-based Shenandoah announced funding from Genx360 Capital Partners.
Florida also welcomed Foot Locker's headquarters to St. Petersburg. Foot Locker's relocation will make it the third Fortune 500 company to locate its headquarters in the St. Pete region.
Georgia
Ten companies have been selected for Atlanta's Startup Showcase Live Pitch Competition, which will award the winner $500,000. The companies range from AgTech to SaaS and were chosen from across the South. The final pitch will take place October 8-9. Chicago-based investment group Portal Innovations has announced a significant investment in Atlanta's biotech ecosystem. It recently opened 33,000 square feet of space to house biotech and medtech startups. Additionally, the group is looking at and funding Georgia companies, including Moonlight Therapeutics, which closed a $5M Series A round earlier this year.
Mississippi
Virtual reality lessons are coming to Mississippi charter schools via a new federal grant and partnership with Mississippi tech company Lobaki. The VR program has dual benefits: exposing students to new technology and helping align the state's educational system. Check out an overview of the program here and a complete profile here.
North Carolina
Congratulations to Pairwise, a Durham-based gene-editing company that announced the close of a $40M Series C funding round. The round, led by Deerfield Management, will help the company scale its food and agriculture product pipeline.
A new report from Triangle Inno found that Universities in the research triangle of North Carolina (the Raleigh—Durham—Chapel Hill area) are leading startup creation in the region. The article highlights some of the ways the region has impacted the startup community. Check it out here.
Jim Roberts also published an excellent op-ed exploring how to increase startup activity in smaller ecosystems. Read it here.
South Carolina
Greenville-based SCbio has announced the seven life science companies that will participate in the first SCbioDrive Accelerator cohort. The eight-week program will help develop the seed-stage companies and culminate in a Demo Day in November, during which the companies will be showcased to potential investors.
One of South Carolina's most significant entrepreneurial events kicks off next week. Dig South's Launchfest is next Friday, September 27th. The conference brings together 300 of the region's top entrepreneurs, founders, and business owners for workshops, pitch competitions, networking, and more. Find out more and register here.
Tennessee
Nashville's 3686 Conference, hosted by LaunchTN, was a huge success, attracting more than 900 attendees and providing more than 1,100 one-on-one networking opportunities for entrepreneurs. Onrise, a Knoxville-based telehealth company, won the InvestTN Pitch Competition, taking home $10,000 in new investment. Get a full event recap here.
LaunchTN also announced the distribution of $9 million in awards to 40 Tennessee companies through its FY25 SBIR/STTR Matching Fund program. The program is in its eighth year and saw $13.4M in demand. Check out all of the recipients here.