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In this month's issue, writer Margaret Littman lays out the reasons why Nashville is becoming an 'it” city for startups. Here, she tells us how and where to go when you're ready to get your idea off the ground.
Not every wannabe entrepreneur knows how to take a great idea from a cocktail-napkin sketch to profit center. Fortunately, they don't need to.
Just as Nashville is booming with new businesses and funders, it is also booming with incubators, or accelerators. These entities help those who have an idea, but maybe not experience, get the mentoring, feedback, tools, resources, and often funding to give it a shot, usually within in a set period of time. (Shared working space can provide some of the same sense of community and shared resources, but don't typically provide the funding component or the set curriculum.) These programs are not for the faint of heartthey are often competitive, time-intensive, and critical (think: Shark Tank times 10). But no one said entrepreneurship was easy. Here's where to go when you need guidance.
Vanderbilt Summer Business Institute:
A 30-day program of the Owen Graduate School of Management, this accelerator combines classroom learning with real-world experience to help students launch businesses. owen.vanderbilt.edu
Belmont Center for Entrepreneurship:
This university center expects one-half of the students who go through its program to start their own businesses within five years of graduation. belmont.edu
Jumpstart Foundry:
This highly selective program admits 10 startup businesses annually. The program is rigorous, about 80 percent finish. There are 108 mentors who help wannabe entrepreneurs in the program. jumpstartfoundry.com
The Lipscomb Center for Entrepreneurship:
Founded in 2011, the center helps students who want to start their own businesses. lipscomb.edu/entrepreneurship
Nashville Business Incubation Center:
One of the city's older entrepreneurship resources, NBIC is a project of Tennessee State University. nbiconline.com
Nashville Entrepreneur Center:
The mission of this active resource is to match entrepreneurs with mentors and the resources they need. The available assistance is both wide and deep, based out of a new 20,000-sq.-ft. facility in the Trolley Barns on Rolling Mill Hill. entrepreneurcenter.com
Startup TN:
With nine locations statewide (including the active Nashville Entrepreneur Center) plus an online network, this program helps aspiring business owners find mentors and more. startuptn.com