Launch Tennessee’s (LaunchTN) Board of Directors recently adopted an updated version of its strategic plan at its latest quarterly meeting. The updated plan emphasizes three key strategies: capital formation, market building, and systemic resource deployment.
According to the plan, one of LaunchTN’s strategies is to “expand capital resources and expedite their availability to TN businesses so that they can grow, be sustainable, create jobs, and build accessible economic prosperity for our state.” To achieve this strategy, LaunchTN’s objectives are to increase access to available LaunchTN capital and proactively engage with investors across the state, country, and world to improve access to non-LaunchTN capital. The organization will also develop outbound marketing initiatives to target other investors.
Building upon capital formation, LaunchTN intends to “identify and recruit recognized leaders in relevant markets to drive a systemic solution for stakeholders to engage, connect, and achieve mutually beneficial results by working together.” To adhere to this strategy, LaunchTN has three main objectives: build an accountable environment of systemic teamwork, collaboration, and communication with market and ecosystem builders; optimize corporate/big company engagement with startups; and develop outbound marketing initiatives targeting market and ecosystem builders.
Systemic Resource Deployment
LaunchTN wrote that it aims to “streamline the connection of our statewide Network Partners and other stakeholders to resources that enable a high-functioning ecosystem in Tennessee for entrepreneurship.” LaunchTN has outlined four objectives in order to work toward this strategy: enhance and drive connectivity and convening; establish competitive policy influence; implement and optimize information systems; and develop and execute an outbound marketing strategy.
In addition to other changes, CEO Margaret Dolan highlighted the organization’s new mission and vision statement to include the words “empowering a network of resources.”
One of TAEBC’s commitments to our members and stakeholders is to foster the growth of Tennessee’s advanced energy technologies and startups. TAEBC works to fulfill this goal through our Energy Mentor Network that serves as one of LaunchTN’s Statewide Network Partners and pairs knowledgeable mentors with promising new companies and entrepreneurs in the region.
Currently, the Energy Mentor Network has six participating startups who are working through the structured program, which involves panel presentations and mentoring sessions. The purpose of the program is to help develop and support quality advanced energy startups. Four startups have graduated from the program to date. To learn more about Energy Mentor Network startups or become a mentor, click here.