SSR - December 20, 2024
With the holidays around the corner and companies and investors turning their attention to 2025, this article from the pitch book on VC trends in the new year caught my eye. The predictions include an overall decline in annual fundraising by private funds with a surge in VC capital raised for debt-based funds. It also predicts that PE-backed IPOs will capture 40% of the US IPO capital. These are bold, data-backed predictions, and we'll watch for their impact across the South.
I also want to highlight a couple of deadlines that fall during the holiday season. Applications to speak at Louisiana's NOEW or to apply to Arkansas' Veteran-Owned Small Business Accelerator are due tonight at midnight, and the deadline to apply for the eMerge Global Startup Accelerator is December 31.
I hope everyone has a safe and happy holiday season.
Louisiana
NexusLA announced the winners of its 2024 BizTech Challenge. ISHARA, a company that uses smart machines to encourage recycling, took home first. Blue Tree, a platform connecting student entrepreneurs with potential customers, took home second place. Amber Accessories, a personal security company that embeds panic buttons into common accessories, walked away with third prize. Courtesy, a system that dispatches courtesy officers to resolve conflicts before police become involved, was named the Fan Favorite. Last night, The Idea Village and Neaux Society celebrated the holidays with a “Pitch the Halls” event where the IDEAfuel cohort shared their ideas with investors.
Alabama
Female founders and entrepreneurs in Alabama will soon get a huge boost from the Los Angeles venture capital firm Halogen Ventures. The fund has invested $10M through InvestAL to build a pipeline of female entrepreneurs in Alabama. The announcement comes on the heels of Alabama’s first-ever Founder Fest, which wrapped up on December 11. See a recap of the event here.
Arkansas
The Arkansas Economic Development Commission (AEDC) announced it had awarded $2M in funding to 11 Arkansas-based accelerator programs. The funds were awarded through a program designed to create high-skill, high-wage jobs by encouraging the development of technological products and services. See the grant winners here.
Florida
Fans of Brittney Griner, Lauren Jackson, and more may be headed to Florida soon to check out Unrivaled, the professional women's basketball league that just closed $28M in Series A funding. Led by the Berman Family, the round will expand the league's reach and impact. Miami area startups will also get access to several new resources for the New Year including the Strive305 HUB, a portal that connects Miami Dade startups with resources in their area and 33 new coworking offices developed by the International Workplace Group.
Georgia
Congratulations to Atlanta-based "Robot-as-a-Service" company Slip Robotics on securing at $28M Series B funding round from Bay Area VC firm DCVC. Slip Robotics will use the funding to expand its team and continue growth within the market. A new report examining the massive growth in CleanTech in Georgia found that the industry has created over 30,000 jobs and 47 startups. The report focuses on some key areas Georgia can focus on to continue its massive trajectory in the sector.
Mississippi
Mississippi State University announced it would host a Tech Startup Weekend on January 24-26, 2025. This event connects entrepreneurs to cutting-edge technology developed at Mississippi universities and in federal labs. The University invites seasoned entrepreneurs, aspiring founders and anyone passionate about innovation to join the event. Teams will have the opportunity to present to a panel of judges, and the winner will have the opportunity to bring their vision to life.
North Carolina
North Carolina's year-end tech event, the NC Tech Awards, released all of its nominees and winners. Congratulations to everyone who the event recognized. Check out the full list of winners here and the unique profile of the companies in the Wilmington area. North Carolina companies who want to take advantage of the NC Idea's 2025 Grant Programs should mark their calendar for upcoming informational sessions throughout the state. The NC IDEA MICRO Grant and NC IDEA SEED Grant award companies $10K or $50K to help with growth. More information on the grant program, program sessions, and office hour schedule can be found here or on the Southern Startup Pitch Competitions page.
South Carolina
Video game developer Pole to Win (PTW) announced a new Charleston location to hire 250 employees. The relocation will expand the city's reputation among large technology companies and help develop technology talent in the area.
Tennessee
Congratulations to Columbia-based IP Copilot on securing $4.2M in Series Seed funding in a round led by Salesforce. IP Copilot integrates with communication platforms like Slack and Jira and uses AI to turn ideas into patents. The Nashville Tech Council announced its 45 finalists for its annual awards, which will be announced in February. Congratulations to all of the nominees!