Jumpstart Foundry announced today a new collaboration with Vanderbilt's Center for Technology Transfer and Commercialization to boost Vanderbilt-based proposals into the Foundry's annual business accelerator.
Through the partnership, Jumpstart and CTTC will identify and evaluate select proposals from Vanderbilt faculty, staff and students, and CTTC will nominate select proposals for placement in Jumpstart's top 30 applicant pool. The accelerator will then rank the Vanderbilt group, and approximately the top dozen teams will be given an offer to participate in the business incubation program.
"This new engagement represents a dynamic extension of our growing relationship with Jumpstart Foundry that promises to create new and valuable opportunities for entrepreneurial-minded members of the Vanderbilt community," Alan Bentley, Vanderbilt's assistant vice chancellor of technology transfer and intellectual property protection, said in a release.
Vic Gatto, CEO of Jumpstart, said the accelerator is impressed with the potential at Vanderbilt. Last year the company selected Vanderbilt-based startup InvisionHeart, which was recently selected to pitch at Google Demo Day.
"The combination of Vanderbilt intellectual property and human talent with the Jumpstart Foundry curriculum and mentor network will create successful startups driving disrupting large industries and improving people's lives," Gatto said.
Microfund and business incubator Jumpstart Foundry has set the date for its second investor day. On August 25, the program's class of six new startups will pitch investors on busineses they've grown through Jumpstart's intensive 14-week program. For more on Jumpstart, visit the group's revamped website, here.
Vic Gatto tells Jeff Cornwall at Belmont about the first-year successes for Jumpstart Foundry, an angel capital fund that comes with mentoring and other support services. One of the keys, Gatto says, is not to rush in too fast.
Last year we ran at a rate of 1 per month as we built the infrastructure. This year we will have a cohort of 6 over 14 weeks in the summer. This may grow to 8 or 10, but we believe that quality trumps volume. We will build Nashville one small group at a time over the next 5-10 years. There is no shortcut that can maintain quality.
Note: Gatto also is a partner at Solidus, one of the main investors in SouthComm, the parent of the Nashville Post.
“We successfully launched Jumpstart Foundry in Nashville last year, but TechStars is the best micro-fund in the country. We jumped at the chance to join forces, learn from their experience and share best practices,” said Vic Gatto, head of investor relations for Jumpstart Foundry. “We believe the combined efforts of the members of the TechStars Network will strengthen entrepreneurial activity across the country and become an answer to the search for economic growth and job creation over the next few years, and Jumpstart Foundry is proud to be part of this solution.”