Description
During this elucidation account nashville and global entrepreneurship week.
Business Enterprise Resource Office (BERO)
Winter 2016
Director’s Message
Hello and Happy 2016!
Fall 2015 wrapped up the year with a variety of events, conferences, report releases,
awards and recognitions at global, national, state and local levels. In this newsletter
there is information on the Global Action Summit hosted in Nashville and Global
Entrepreneurship Week hosted in 160+ countries. The 2015 Governor’s Conference
presentation for the session, Approaches for Supporting Rural Entrepreneurs and ,
the BERO annual report released in December, as well as updates on various
programs statewide.
You have probably heard about it through at least one avenue by now, but just in
case, we need your help in expanding entrepreneurial opportunities (as well as
education and healthcare) through your dissemination and participation in an
impartial statewide assessment of broadband access and usage. It is for residents
and businesses in the state. We need your help in getting as many of state’s DBEs
and small businesses to take part as possible. Their future success depends on the
ability to connect with customers. Thank you for your assistance!
I look forward to hearing from you soon!
Warm regards,
Wisty Pender
Director, BERO
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? DBE/Veteran Best Practices and Highlights ?
We need your help.
A statewide assessment of broadband access and
usage in Tennessee is underway.
Survey Period Closes in March 2016
The future of Tennessee’s economic success is
directly tied to our broadband internet access.
Having broadband access leads to an increase in
educational and entrepreneurial opportunities,
which therefore helps our state build a better
workforce and accelerate job creation.
To ensure that every community in Tennessee has
the tools to economically succeed, we must measure who has broadband Internet access, if they are using it and
how they are using it. Please help us make sure that every Tennessean’s voice is heard on this important topic by
taking the 20-minute assessment at tn.gov/broadband and passing it on to other members of your community.
We need your help in getting as many of state’s DBEs and small businesses to take part as possible. Their future
success depends on the ability to connect with customers.
Download what you need from the Survey Toolkit:
tnecd.populr.me/broadband-survey
Password: tnecd
. . .
Global Action Summit 2015:
The Global Action Summit is an annual forum held in Nashville,
Tennessee, that fosters cross-sector perspectives on food, health,
and prosperity. The aim of the Summit is to create, guide and
facilitate leadership initiatives. Summit participants include senior-level business leaders, research scientists, global
agencies, NGO directors, and Summit Fellows. Events, conferences and outreach activities are also hosted
throughout the year by the Global Action Platform to help facilitate program goals.
? Highlights (video): youtube.com/watch?v=Gso6ey0zp34
? Fareed Zakaria's Opening Remarks/Keynote(video): youtube.com/watch?v=rEsVk1oNF1Q
? A $500M Challenge Impact Fund was announced through a partnership with Global Action
Platform/Cumberland Center and Aegis Health Security. Further details have not been released.
Program: globalactionplatform.org/uploaded/pageimg/Summit%20Program%2011_13_15.pdf
. . .
Entrepreneurship Policy Digest: How To Cook Up A Vibrant Entrepreneurial Ecosystem
kauffman.org/~/media/kauffman_org/resources/2015/entrepreneurship%20policy%20digest/october%202015/ho
w_to_cook_up_a_vibrant_entrepreneurial_ecosystem.pdf
The recovery from the Great Recession has not been felt evenly across the country. While some localities bounced
back quickly, others have been slow to find their footing. In the midst of this uneven recovery, cities are grappling
with widening income inequality, slow economic growth, and a capital restricted environment. To address
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these challenges, local policymakers are increasingly turning to entrepreneurship—a proven driver of economic
growth and a catalyst of upward economic mobility.
The Kauffman Index: Main Street Entrepreneurship Reports
? Main Street Entrepreneurship Metropolitan Area and City Trends
This report provides a broad index measure of small local business activity for the forty largest
metropolitan areas of the United States.
? Main Street Entrepreneurship State Trends
This report provides a broad index measure of small local business activity for the fifty states of the
United States, analyzing them in peer groups of the 25 largest states by population and the 25 smallest
states by population.
? Main Street Entrepreneurship National Trends
This report provides a broad index measure of small local business activity in the United States. It presents
an equally weighted index of two normalized measures of small and local business activity.
. . .
Other Items of Interest:
? Corporations for Public Benefit in TN: Now available!
The legal structure, also referred to as a B-corp, is not new but it is a new legal structure available in
Tennessee. It provides another legal structure of particular interest to social enterprises and is already
available in over 30 states.
What kind of company is for?
A domestic business corporation that intends to pursue a public benefit or public benefits. This entity must
have a positive effect or reduction of negative effects on one (1) or more categories of persons, entities,
communities, or interests, other than shareholders in their capacities as shareholders, including, but not
limited to, an artistic, charitable, cultural, economic, educational, environmental, literary, medical, religious,
scientific, or technological effect. (sos.tn.gov/products/business-services/profit-benefit-corporation)
? The BERO annual report was released with newly released data from the U.S. Census Survey of Business
Owners (SBO).
? BEST: Cohort 2 began in November at the Tennessee Prison for Women in Nashville. The BEST (Building
Entrepreneurs For Success in Tennessee) program, is designed to provide opportunities for personal
development and transformation, then teach business and entrepreneurial skills to better equip individuals for
successful reentry into the community after incarceration. (ec.co/best) There are 19 women from each of
Tennessee’s three women’s prisons participating in the program. Karen Vander Molen, the program’s director
and founder, presented at the Global Action Summit - video here.
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? 2015 Team Tennessee Governor’s Conference on Economic and Community Development
Presentations and video from the conference in October are available online, including the session slides
for Approaches for Supporting Rural Entrepreneurs.
? Access to Capital ?
Policy Dialogue: Crowdfunding Rules Announced. What Next?
kauffman.org/blogs/policy-dialogue/2015/november/crowdfunding-rules-announced-what-next
…The new rules on crowdfunding allow anyone with a net worth less than $100,000 to invest up to $2,000 (or 5
percent of their net worth, whichever is greater) over a 12-month period. If an investor has an income and net
worth greater than $100,000, they can invest up to 10 percent of their net worth. The new rules will be effective
Jan. 29, 2016.
Innovation Daily: Georgia gets first federal OK for crowdfunding business
innovationamerica.us/index.php/innovation-daily/49049-georgia-gets-first-federal-ok-for-crowdfunding-business--
online-athens
The nation’s first business with federal approval to use multi-state crowdfunding is a Georgia company building on
an innovative state law.
Atlanta-based Groundfloor snagged the prize. It was begun in North Carolina but moved to Georgia to take
advantage of the Peach State’s law that opens the door to small investors.
Frost, Brown, Todd: A Brief Guide to the SEC’s Final Crowdfunding Rules: 12 Facts You Need to Know
frostbrowntodd.com/resources-1855.html
By now, most people have heard of “crowdfunding” or have some idea of what the term means. Crowdfunding is a
technique for raising small amounts of capital from a large number of people over the Internet.
Less understood, however, is the distinction between (i) crowdfunding on websites like Kickstarter or GoFundMe,
which allow companies to fund ideas by giving away “rewards” (thereby avoiding the need to comply with federal
and state securities laws), and (ii) crowdfunding on websites that allow people to purchase an ownership interest
in a business (“equity crowdfunding”), which involves the purchase and sale of a security.
Field at the Aspen Institute: The Racial Wealth Gap, Narrowing the Racial Wealth Gap through Business
Ownership
assetfunders.org/images/pages/AFN_Racial_Wealth_Gap_-Strategy_Spotlight_2015.pdf
The growing racial and ethnic wealth gap presents a challenge for funders striving to build assets and tackle
inequality in the United States. One of the key reasons for the racial wealth gap is that African American and Latino
households hold lower levels of business and financial assets.
…Although business ownership may be an important means to build wealth in our economy, African Americans
and Latinos have encountered challenges in acquiring the capital, knowledge, and market access needed to grow
their firms.
Devex Impact: The next wave of development finance innovation
devex.com/news/the-next-wave-of-development-finance-innovation-87139
Impact investing has typically been a practice reserved for foundations, private equity or venture capitalists, but a
new crop of alternative investment opportunities are emerging that are bringing traditional financial institutions
more into the mix. In practice they are merely slight variations to the everyday debt and equity instruments that
banks deal with in large volumes every day. But these financial products add a development objective to an
investment goal and establish a key link between sustainability targets and commercial capital.
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In doing so they address a major funding dilemma facing social enterprises and sustainability-focused small and
medium-sized enterprises.
… Development impact bonds give banks an opportunity to invest in development projects and earn a return that
is not generated through donations or charitable giving. It allows them to fulfil their core objective of seeking a
return on investment. For civil society program implementers, a development impact bond can be a useful option
for leveraging a foundation’s finances to mobilize early volumes of commercial capital for development.
…There are more articles related to access to capital in the compilation from the past quarter below, too.
? Events and Items of Note ?
? January: National Mentoring Month, National Slavery and Human Trafficking Prevention
? January: NextFarm, a business accelerator focused on agricultural related ventures and
innovation is open for application.
? January 28: 2016 Farmer’s Market Boot Camp (1), White Pine. Registration deadline January 21.
? January 29: 2016 Farmer’s Market Boot Camp (2), Athens. Registration deadline January 22.
? February: Black History Month, Irish-American Heritage Month
? February 11-3: Pick TN Products, Knoxville. More information at tdaruralroutes.org/#04
? February 22: 2016 Farmer’s Market Boot Camp (3), Lebanon. Registration deadline February 15.
? February 24: 2016 Farmer’s Market Boot Camp (4), Winchester. Registration deadline February 17.
? February 20-23: International Franchise Association Convention, San Antonio, TX. More information
at convention.franchise.org/home.
? March: Women’s History Month
? March 2: 2016 Farmer’s Market Boot Camp (5), Trenton. Registration deadline February 24.
? March 3: 2016 Farmer’s Market Boot Camp (6), Centerville. Registration deadline February 25.
? March 14-17: Global Entrepreneurship Congress, Medellin, Columbia. More information at gec.co.
? March 21-24: National Reservation Economic Summit (RES) 2016, Las Vegas, NV. More information
at res.ncaied.org.
? March 22-24: Women's Business Enterprise National Council 2016 Summit & Salute, Phoenix, AZ.
More information at summit.wbenc.org.
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? And coming up…
? 26
th
Annual Government Procurement Conference: April 6, Washington, DC.
(fbcconferences.com/e/procurement/default.aspx)
? WPO 19th Annual Conference: April 7-9, Baltimore, MD. (womenpresidentsorg.com)
? eMERGE Americas: April 18-19, Miami, FL. (emergeamericas.org)
? Growing Entrepreneurial Communities Summit: May 4-5, Kansas City, MO.
(energizingentrepreneurs.org)
? 2016 Black Enterprise Entrepreneurs Conference: May 4-7, Miami Beach, FL.
(blackenterprise.com/events/entrepreneurs-summit)
? GROWCO: May 17-19, Las Vegas, NV. (growco.inc.com)
? 36|86, The Southern Series: June 6-7, Nashville. (thirtysixeightysix.com)
? Your Turn to Submit ?
What do we want to know about? We are looking for these:
Case Studies:
We have been spotlighting how organizations work
with clients. How they connect resources, and what
things that company or individual sought to accomplish
and did. It serves to highlight your range of services
and the company itself statewide.
Best Practices:
Your best practices can be anything from how you
process a client to programs developed to fill gaps that
are producing good results (i.e. business matchmaking,
mentor-protégée programs, loan programs, etc.).
Events:
What impactful events are you planning, co-planning
or promoting for DBEs? Include the basics of who,
what, when, where and how, with a link for more
information. Send events that take will place in the
next 6 months.
How to submit:
There is a lot of great work being done across the state
for DBEs. If you have questions that you would like to
see how other groups are solving and/or addressing,
send them along. Provide enough contextual
information so your question can be answered in a
relevant manner. Send to [email protected].
Feel free to suggest or forward on to others!
? Articles of Interest from the Last Quarter ?
Do you need a different option to look through these articles?
These articles are also posted in “DBE Topics in the News” section of BERO’s website at tn.gov/ecd/bero.
? DECEMBER ? DECEMBER ? DECEMBER ? DECEMBER ? DECEMBER ? DECEMBER ? DECEMBER ? DECEMBER ? DECEMBER ?
Biz Women: Survey says 2016 will be a good year for female business owners
bizjournals.com/bizwomen/news/latest-news/2015/12/survey-says2016-will-be-a-good-year-for-female.html
A Yelp survey of small business owners in its social referral network shows a lot of optimism for 2016.
The survey found that 85 percent of all small business owners expected revenue to grow next year. Among female
owners, that figure is 83 percent.
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Government Technology: Local Data: Where Are Businesses Starting Up?
govtech.com/data/Local-Data-Where-Are-Businesses-Starting-Up.html
…Interestingly, much of the growth stems from new minority-owned firms, the vast majority of which are self-
employed individuals operating unincorporated businesses. The number of black-owned firms grew about 34
percent, while Asian-owned firms climbed 24 percent from 2007 levels, according to national Census estimates. An
even larger increase -- 46 percent -- was recorded for Hispanic firms, prevalent in places like El Paso and Miami.
Data suggests Hispanic-owned businesses are overrepresented in certain industries, such as the sector that
encompasses administrative support, waste management and remediation services.
Biz Women: By the numbers: How women in business fared in 2015
bizjournals.com/bizwomen/news/out-of-the-office/2015/12/by-the-numbers-how-women-in-business-fared-in-
2015.html
Numbers can often illustrate a topic better than words. Take a look back at some key statistics from the year to see
how women fared in 2015.
… 45: Percentage of millennial business owners who are women
- Compared to 25 percent of baby boomer business owners
… About 1 million: Number of views of “CODEGIRL”
HBS Working Knowledge: Without Immigrants, We Wouldn't Have Google
hbswk.hbs.edu/item/without-immigrants-we-wouldn-t-have-google
What is the secret sauce of US commercial success? It’s the contributions of immigrants, like Google co-founder
Sergey Brin, who have made huge contributions to the technological and economic success of the United States,
argues Harvard Business School Professor Shane Greenstein.
Biz Women: New study shows price discrimination is alive and well
bizjournals.com/bizwomen/news/latest-news/2015/12/new-study-shows-price-discrimination-is-alive-and.html
What’s the difference between a red Radio Flyer scooter and a pink Radio Flyer scooter sold at Target? Nothing,
except the pink scooter costs twice as much.
Forbes: 30 Under 30: PartPic*/Jewel Burks
forbes.com/30-under-30-2016/manufacturing-industry/#2715e4857a0b1458ed3476cd
An entrepreneur from a family of entrepreneurs, Burks began her career at Google before her grandmother's
breast cancer diagnosis led her to decide to move back home to Atlanta. There, she took a job working at
McMaster-Carr, a top U.S. industrial parts distributor. But when it came to hunting down specific gears and other
bits of machinery from its stock of 550,000 products, it was a far cry from what she was used to at the search giant.
*PartPic, headed by Burks, a Nashville native, won the 36|86 pitch competition in June 2015.
Nashville Business Journal: Nashville a top city for businesses owned by women, millennials
bizjournals.com/nashville/blog/2015/12/nashville-a-top-city-for-businesses-owned-by.html
Among big cities nationwide, Nashville has one of the highest rates of millennial entrepreneurs that own small
businesses, according to a new study by the Kauffman Foundation.
GEW: Global Entrepreneurship Congress
gec.co
At the Global Entrepreneurship Congress (GEC) in Medellin, Colombia, thousands of entrepreneurs, investors,
researchers, policymakers and other startup champions will gather together to discuss "The Business of Next."
Delegates from more than 160 countries around the world will be talking about how to drive the entrepreneurship
spirit forward in their country.
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Nashville Business Journal: Nashville EC partners with Google to boost diversity
bizjournals.com/nashville/blog/2015/12/nashville-ec-partners-with-google-to-boost.html
The Nashville Entrepreneur Center is launching a new initiative in 2016 to help develop a more inclusive
entrepreneurial environment in Music City, according to a news release.
The initiative includes five scholarships for under-represented and minority members of the community. Recipients
of the scholarships will receive a one-year membership at the center and tuition for the PreFlight program.
Happy Migrants Day
blog.migreat.com
Today is International Migrant’s Day! The day celebrates our human history, the story of hundreds of millions of
courageous individuals who chose to overcome adversity and work at creating a better life for themselves in a
foreign country.
Ameyaw Debrah: BBC’s 100 Women | Half the World Speaks
ameyawdebrah.com/bbc-100-women-rns-for-2015-2/
Young, geeky and black in Memphis …The first episode focuses on Memphis, Tennessee – a majority black city and
the poorest metro area in the United States. It’s also home to a group of organisations and passionate individuals
working to get young, black women into technology and tech jobs. Presenter James Fletcher meets some of the
girls involved in Black Girls Code and Code Crew, and their teachers and mentors who feel that coding and tech
offer Memphis a path out of poverty
? NOVEMBER ? NOVEMBER ? NOVEMBER ? NOVEMBER ? NOVEMBER ? NOVEMBER ? NOVEMBER? NOVEMBER? NOVEMBER ?
Nashville Business Journal: Nashville startup makes Time's list of 2015's best inventions
bizjournals.com/nashville/blog/2015/11/nashville-startup-makes-times-list-of-2015s-best.html
Nashville-based music-tech startup Artiphon already had one pretty notable achievement this year: a $1.3 million
Kickstarter campaign that ranked as one of the crowdfunding site's best ever. Now the creators of the all-in-one
instrument have another feather to add to their cap, courtesy of Time magazine.
Daily News Journal: MTSU presents Global Entrepreneurship Week
dnj.com/story/money/business/2015/11/13/mtsu-presents-global-entrepreneurship-week/75722754/
… His MTSU talk, titled “From Darkness to Sight: A Story of Opportunity, Innovation, and Entrepreneurship,” will
take place from 7-8 p.m. Monday in the State Farm Lecture Hall, Room S102 of the Business and Aerospace
Building. It is free and open to the public.
McDowell will be host for workshops to teach MTSU students how to win a business-plan competition and also
overseeing Wednesday’s entrepreneurship fair for area high school students. New this year, the invitation-only fair
will feature participating students making elevator pitches and creating trade show displays to be judged by a
panel of experts.
HBS Working Knowledge: Developing Your Next CEO for the Family Business
hbswk.hbs.edu/item/managing-the-family-business-developing-your-next-ceo
…Bower makes a strong case for making “Insider Outsiders” your next CEO. These internal candidates with some
outsider views have a more objective and independent view about how your company needs to change and adapt.
Executives with the right mix of Insider and Outsider attributes, Bower claims, are likely to do a better job and
create more economic value as CEO. I agree but CEO selection is more complex for family companies.
Biz Women: 5 takeaways from the women of Fortune’s Global Forum
bizjournals.com/bizwomen/news/latest-news/2015/11/5-takeaways-from-the-women-of-fortune-s-global.html
Fortune’s Global Forum took place in San Francisco this week, and leaders from all industries provided insight on
doing business globally.
Popular topics included technology and leadership, which affect companies large and small.
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Economy Matters: Keeping Up with the Gazelles, Part 2: Why Gazelle Founders Set Sail
frbatlanta.org/economy-matters/2015/11/12/keeping-up-with-the-gazelles-part-two.aspx
In interviews with four dozen founders of fast-growing companies across the Southeast, Atlanta Fed researchers
identified three general paths that these entrepreneurs followed. Economy Matters staff writer Charles Davidson
profiles some of the prototypical gazelle founders.
Biz Women: 8 female founders on making the leap from corporate climber to entrepreneur
bizjournals.com/bizwomen/news/latest-news/2015/11/8-female-founders-on-making-the-leap-from.html
Today is Women's Entrepreneurship Day [November 19], a worldwide celebration of women who are leading
businesses and breaking barriers in the workplace.
…We are celebrating the day by asking business leaders about the moment they decided to make the leap, from
corporate climber to entrepreneur.
GEN News: 2015 Amway Global Entrepreneurship Report Released as Part of GEW 2015
wearegen.co/gew/2015-amway-global-entrepreneurship-report-released-part-gew-2015
… The report found that 43 percent of respondents around the world could imagine starting a business. Men (47
percent) were more willing than women (38 percent). University degree holders and those under 35 years old
(each 51 percent) showed the most potential. All this said, however, just 10 percent were currently self-employed,
sustaining the entrepreneurial gap of 33 percent from 2014.
Nooga.com: Pakistani Native, Female Entrepreneur Contributes to Local Economy with New Business
nooga.com/171641/pakistani-native-female-entrepreneur-contributes-to-local-economy-with-new-business/
Entrepreneur Amna Shah has been working diligently toward success since she came from Pakistan to the United
States at age 16.
…She now has 10 consultants and projects $1 million in revenue by the end of 2015.
"It ... feels good to give back to U.S., for it gave me my American dream," she said.
GEN News: GEW Celebrates Female Founders
wearegen.co/gew/gew-celebrates-female-founders
…The strategies to promote women’s entrepreneurship are different than for other demographic groups: beyond
stereotypes about their abilities, women face unique challenges that prevent them from becoming successful
entrepreneurs, such as a scarcity of female mentors. Only armed with more accurate information, program
coordinators and funders can make adjustments to address their particular challenges. We salute pioneers, such as
GEW Board member Rebeca Huang, in fighting this through vehicles like Rivet Ventures.
Venture Nashville: Bunker Labs for Veterans emerging at Nashville Entrepreneur Center
venturenashville.com/bunker-labs-for-veterans-emerging-at-nashville-entrepreneur-center-cms-1181
…The national Bunker Labs website lists services for active duty military anticipating an exit, and veterans who
have left military service. Peer-to-peer learning, with mentors, industry experts, an investor network and other
resources are described there.
GEN News: American Cities Celebrate Global Entrepreneurship Week
wearegen.co/gew/american-cities-celebrate-global-entrepreneurship-week
Global Entrepreneurship Week starts this morning with more than 10 million people participating in over 30,000
events in 160 countries. While the United States has in large part been the originator of the startup revolution now
unfolding across the globe, this renaissance of entrepreneurs is still relatively new for some parts of our nation.
This week we look at how GEW is celebrating emerging ecosystems in three American cities: Albuquerque, New
Mexico; Louisville, Kentucky; and Washington, D.C. - See more at: wearegen.co/gew/american-cities-celebrate-
global-entrepreneurship-week#sthash.IPToef3U.dpuf
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Fast Company: This Food Truck Spends Part Of Its Route Delivering Meals To Hungry Kids
fastcoexist.com/3052310/this-food-truck-spends-part-of-its-route-delivering-meals-to-hungry-kids
When a new Oklahoma City food truck isn't serving burgers at street parties, it will deliver free healthy meals to
kids who are struggling with hunger.
"As efficient as food banks are, they still have a hard time delivering food to the margins of our community," says
Mike Zserdin from Made Possible By Us, the startup launching the truck. "A lot of times the people who need the
food aren't able to get it at the delivery points."
Biz Women: NAWBO has a very specific idea for how women can help close the gender wage gap
bizjournals.com/bizwomen/news/latest-news/2015/11/nawbo-has-a-very-specific-idea-for-how-women-can.html
The National Association of Women Business Owners has an interesting proposal for narrowing the pay gap: More
women need to start their own businesses.
HBS Working Knowledge: Why Does Gender Diversity Improve Financial Performance?
hbswk.hbs.edu/item/why-does-lack-of-gender-diversity-hurt-performance
… He commented that improved performance is not about gender diversity, but rather about cognitive diversity--
"differences in the way that we see and categorize the world, the way we solve problems and the way that we
make predictions.” A comment from “The Real Deal” echoes this belief: “If you want real diversity, surround
yourself with people from different backgrounds who do not think like you. You could hire 50% women, and if they
are clones of your existing leaders, in terms of how they think … then you in reality have diversity only on paper.”
Times Free Press: Signal Mountain women start business from the yoga mat up
timesfreepress.com/news/business/aroundregion/story/2015/nov/03/business-help-people-believe/333770/
…It took about $10,000 to get My Mat My Mantra going, $5,000 from each of them, Fowler and Smith said. They
declined to share their company's revenue but said that for this calendar year through August it has doubled
compared with all of calendar year 2014....Fowler, 43, and Smith, 45, both mothers, were homemakers when they
launched the company.
Nooga.com: Dayton entrepreneur plans to expand to Chattanooga, carry on family's legacy
nooga.com/171496/dayton-entrepreneur-plans-to-expand-to-chattanooga-carry-on-familys-legacy/
Third-generation entrepreneur John Tipton is studying business management at Mercer University, and he plans to
expand his family's business from Dayton to Chattanooga when he graduates.
…He is becoming an entrepreneur because of his family, not for the money, he said. He wants to carry on his
family's legacy and be a part of the community and storytelling aspect of business ownership.
Teknovation.com: Enthusiasm, energy and inquisitiveness abound in YEA! Classroom
teknovation.biz/2015/11/02/enthusiasm-energy-inquisitiveness-abound-yea-classroom/
…It was one of 30 weekly classes scheduled well into next year where two dozen young people with an average
age of between 13 and 14 are learning about entrepreneurship – taking an idea and developing it into a business.
? OCTOBER ? OCTOBER ? OCTOBER ? OCTOBER ? OCTOBER ? OCTOBER ? OCTOBER ? OCTOBER ? OCTOBER ? OCTOBER ?
Knoxville News Sentinel: Tennessee farmers, rural small businesses net $2M in USDA grants
knoxnews.com/business/tennessee-farmers-rural-small-businesses-net-2m-in-usda-grants-ep-1340619428-
353332651.htm
The department’s Rural Energy for America Program funds energy efficiency improvements and renewable-energy
systems for rural small businesses and agricultural producers.
Dry Ridge Farm, a full-service equestrian boarding and training facility founded by then-UT student Alex Green in
2010, received more than $25,000 with the help of Knoxville contractor Aries Energy.
Nashville Business Journal: Nashville tech company named one of the best by Entrepreneur
bizjournals.com/nashville/blog/2015/10/nashville-tech-company-named-one-of-the-best-by.html
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A Nashville-based tech company made the cut of 10,000 to be named one of the best entrepreneur companies in
America.
Concept Technology Inc. was listed as one of Entrepreneur magazine's Best Practicers for 2015.
YouTube Wants Everyone To Watch This New Movie About Girls Who Code
huffingtonpost.com/entry/youtube-codegirl-streaming_562e1fb3e4b0aac0b8fd53f8
…In her new documentary "Codegirl," producer Lesley Chilcott profiles Technovation, a tournament in which high
school girls from around the world have three months to design an app that solves a problem in their community.
The trailer for "Codegirl"(video): youtube.com/watch?v=cRb5iel-3Ck
GEN News: Global Entrepreneurship Week 2015 Tops 160 Country Mark
wearegen.co/gew/global-entrepreneurship-week-2015-tops-160-country-mark
The 2015 Global Entrepreneurship Week (GEW) will be its largest celebration of entrepreneurship yet, with events
in 160 countries. From November 16-22, roughly 10 million people will take part in the eighth annual celebration,
recognizing and supporting entrepreneurs from around the world.
Fast Company: This Ninth Grader Invented A Device That Harvests Power From Ocean Waves
fastcoexist.com/3052431/this-ninth-grader-invented-a-device-that-harvests-power-from-ocean-waves
A few startups have spent millions developing massive underwater power plants that gather energy from ocean
waves. But a Florida teenager has invented a small-scale alternative, designed for the developing world, that costs
just $12.
Hannah Herbst, age 15, started thinking about renewable energy after talking with her nine-year-old pen pal in
Ethiopia. "I found out that she's living in energy poverty, and she doesn't have access to things that I take for
granted every day," Herbst says.
Huffington Post: Women in Tech: Entrepreneurs Gather in Chattanooga to Discuss Future of Startups
huffingtonpost.com/beth-cone-kramer/women-in-tech-entrepreneu_2_b_8328320.html
… According to the National Women's Business Council, in 2012, 9.9 million women-owned business in the United
States generated $1.6 trillion in receipts. However, per the St. Louis Business Journal just 14% of the total capital
invested by venture firms this year went to women.
SouthernAlpha: 8,000+ women engineers are gathered in Nashville — and ready for more to join the field
southernalpha.com/8000-women-engineers-are-gathered-in-nashville-and-ready-for-more-to-join-the-field/
… One special event that’s taking place on Saturday is Invent It. Build It, a program for middle school girls, families
and teachers where the girls will have a chance to do creative and challenging engineering activities. “They’ll meet
some incredible women in engineering and learn what it’s like to be an engineer,” said Randy Freedman, outreach
manager at SWE. “ Hundreds of engineers attending WE15 have volunteered to work with the girls, families and
teachers who attend the event.”
SSA-IRS Reporter (published in English and Español)
irs.gov/Businesses/Small-Businesses-&-Self-Employed/SSA-IRS-Reporter
An online-only publication for businesses, payroll professionals and others who work with payroll taxes and
employment tax issues.
Wired: Chattanooga is Offering Internet Faster than Google Fiber
wired.com/2015/10/chattanooga-is-offering-internet-faster-than-google-fiber
…Today the Chattanooga Electric Power Board, the city-owned power utility, says that it is now offering 10 gigabit
connections—nearly 1,000 faster than the average broadband connection in the US—
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Times Free Press: Startup Week's Angel Summit focuses on investment, community
timesfreepress.com/news/business/aroundregion/story/2015/oct/15/startweeks-angel-summit-focuses-
investment-community/330586/
[The summit] was for investors, to help them learn more about putting money to good use in startups. It brought
together accomplished entrepreneurs, business leaders and investors from across the country.
PR Newswire: Tech Entries Dominate 2016 Rural Entrepreneurship Challenge: American Farm Bureau Announces
Top 10 Teams
prnewswire.com/news-releases/tech-entries-dominate-2016-rural-entrepreneurship-challenge-american-farm-
bureau-announces-top-10-teams-300155952.html
The American Farm Bureau today announced the top 10 teams – four finalists and six semi-finalists – of the 2016
Farm Bureau Rural Entrepreneurship Challenge…
The final four teams, chosen from 165 applicants, were each awarded $15,000 and will advance to the next phase
of the challenge. …Farm Specific Technology (Bolivar, Tennessee), ag tech entry, no-till crimper for cover crop
production. Team lead: Shawn Butler.
Update - Tampa Bay Business Journal: AccuGrain of Iowa Honored as Farm Bureau Entrepreneur of the
Year
bizjournals.com/tampabay/prnewswire/press_releases/Florida/2016/01/11/DC95802
Garnering 49 percent of the vote, Farm Specific Technology of Bolivar, Tennessee, team lead Shawn
Butler, won the People's Choice award in the competition and an additional $10,000 in prize money for a
no-till crimper for cover crop production. Members of the live audience at the finals competition and
members of the general public voted online to select the People's Choice winner. Tennessee residents
cast the most votes (1,229) followed by Iowa (1,068) and Kansas (205).
Policy Dialogue: Crowdsourcing Crowdfunding Rules
kauffman.org/blogs/policy-dialogue/2015/october/crowdsourcing-crowdfunding-rules
Crowdfunding is opening up large amounts of early stage capital for entrepreneurs. As regulators struggle to write
new rules for this exploding phenomenon, they might do well to crowdsource their own questions and
experiences.
Tech Goes Home provides training, computers for low-income families
timesfreepress.com/news/business/aroundregion/story/2015/oct/14/bridging-digital-dividetech-goes-home-
brings/330374/’
For Edilzar Garcia, the American dream will be molded with a hot soldering iron… So far, Tech Goes Home
Chattanooga has helped 140 people, including 99 families, get better access to technology and digital literacy skills.
The program is being offered in 20 schools, libraries, churches and community centers this fall.
McKinsey Global Institute: How advancing women’s equality can add $12 trillion to global growth (video and
report)
mckinsey.com/insights/growth/how_advancing_womens_equality_can_add_12_trillion_to_global_growth
A “best in region” scenario in which all countries match the rate of improvement of the fastest-improving country
in their region could add as much as $12 trillion, or 11 percent, in annual 2025 GDP. In a “full potential” scenario in
which women play an identical role in labor markets to that of men, as much as $28 trillion, or 26 percent, could
be added to global annual GDP by 2025.
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? Contact Information ?
Wisty Pender
Director, Business Enterprise Resource Office (BERO)
Tennessee Department of Economic and Community Development
312 Rosa L. Parks Avenue
Tennessee Tower, 26th Floor
Nashville, TN 37243
tn.gov/ecd/bero
[email protected]
p. 615/741.8914
f. 615/401.6872
About BERO:
BERO serves as a voice for and advocate of economic inclusion for Tennessee’s disadvantaged businesses (DBE). The office is tasked to analyze,
disseminate and promote best practices and access to capital for DBEs to service providers. It also reports on the status of DBEs across the
state. For the purposes of BERO, DBE refers to businesses owned by women, minorities, veterans and persons with disabilities; as well as
businesses operating in remote or rural areas of the state.
About TNECD:
Tennessee was named 2014 and 2013 “State of the Year” for economic development by Business Facilities magazine. The Tennessee
Department of Economic and Community Development’s mission is to develop strategies which help make Tennessee the No. 1 location in the
Southeast for high quality jobs. The department seeks to attract new corporate investment in Tennessee and works with Tennessee companies
to facilitate expansion and economic growth.
Find us on the web: tnecd.com. Follow us on Twitter: @tnecd. Like us on Facebook: facebook.com/tnecd.
doc_270088713.pdf
During this elucidation account nashville and global entrepreneurship week.
Business Enterprise Resource Office (BERO)
Winter 2016
Director’s Message
Hello and Happy 2016!
Fall 2015 wrapped up the year with a variety of events, conferences, report releases,
awards and recognitions at global, national, state and local levels. In this newsletter
there is information on the Global Action Summit hosted in Nashville and Global
Entrepreneurship Week hosted in 160+ countries. The 2015 Governor’s Conference
presentation for the session, Approaches for Supporting Rural Entrepreneurs and ,
the BERO annual report released in December, as well as updates on various
programs statewide.
You have probably heard about it through at least one avenue by now, but just in
case, we need your help in expanding entrepreneurial opportunities (as well as
education and healthcare) through your dissemination and participation in an
impartial statewide assessment of broadband access and usage. It is for residents
and businesses in the state. We need your help in getting as many of state’s DBEs
and small businesses to take part as possible. Their future success depends on the
ability to connect with customers. Thank you for your assistance!
I look forward to hearing from you soon!
Warm regards,
Wisty Pender
Director, BERO
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? DBE/Veteran Best Practices and Highlights ?
We need your help.
A statewide assessment of broadband access and
usage in Tennessee is underway.
Survey Period Closes in March 2016
The future of Tennessee’s economic success is
directly tied to our broadband internet access.
Having broadband access leads to an increase in
educational and entrepreneurial opportunities,
which therefore helps our state build a better
workforce and accelerate job creation.
To ensure that every community in Tennessee has
the tools to economically succeed, we must measure who has broadband Internet access, if they are using it and
how they are using it. Please help us make sure that every Tennessean’s voice is heard on this important topic by
taking the 20-minute assessment at tn.gov/broadband and passing it on to other members of your community.
We need your help in getting as many of state’s DBEs and small businesses to take part as possible. Their future
success depends on the ability to connect with customers.
Download what you need from the Survey Toolkit:
tnecd.populr.me/broadband-survey
Password: tnecd
. . .
Global Action Summit 2015:
The Global Action Summit is an annual forum held in Nashville,
Tennessee, that fosters cross-sector perspectives on food, health,
and prosperity. The aim of the Summit is to create, guide and
facilitate leadership initiatives. Summit participants include senior-level business leaders, research scientists, global
agencies, NGO directors, and Summit Fellows. Events, conferences and outreach activities are also hosted
throughout the year by the Global Action Platform to help facilitate program goals.
? Highlights (video): youtube.com/watch?v=Gso6ey0zp34
? Fareed Zakaria's Opening Remarks/Keynote(video): youtube.com/watch?v=rEsVk1oNF1Q
? A $500M Challenge Impact Fund was announced through a partnership with Global Action
Platform/Cumberland Center and Aegis Health Security. Further details have not been released.
Program: globalactionplatform.org/uploaded/pageimg/Summit%20Program%2011_13_15.pdf
. . .
Entrepreneurship Policy Digest: How To Cook Up A Vibrant Entrepreneurial Ecosystem
kauffman.org/~/media/kauffman_org/resources/2015/entrepreneurship%20policy%20digest/october%202015/ho
w_to_cook_up_a_vibrant_entrepreneurial_ecosystem.pdf
The recovery from the Great Recession has not been felt evenly across the country. While some localities bounced
back quickly, others have been slow to find their footing. In the midst of this uneven recovery, cities are grappling
with widening income inequality, slow economic growth, and a capital restricted environment. To address
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these challenges, local policymakers are increasingly turning to entrepreneurship—a proven driver of economic
growth and a catalyst of upward economic mobility.
The Kauffman Index: Main Street Entrepreneurship Reports
? Main Street Entrepreneurship Metropolitan Area and City Trends
This report provides a broad index measure of small local business activity for the forty largest
metropolitan areas of the United States.
? Main Street Entrepreneurship State Trends
This report provides a broad index measure of small local business activity for the fifty states of the
United States, analyzing them in peer groups of the 25 largest states by population and the 25 smallest
states by population.
? Main Street Entrepreneurship National Trends
This report provides a broad index measure of small local business activity in the United States. It presents
an equally weighted index of two normalized measures of small and local business activity.
. . .
Other Items of Interest:
? Corporations for Public Benefit in TN: Now available!
The legal structure, also referred to as a B-corp, is not new but it is a new legal structure available in
Tennessee. It provides another legal structure of particular interest to social enterprises and is already
available in over 30 states.
What kind of company is for?
A domestic business corporation that intends to pursue a public benefit or public benefits. This entity must
have a positive effect or reduction of negative effects on one (1) or more categories of persons, entities,
communities, or interests, other than shareholders in their capacities as shareholders, including, but not
limited to, an artistic, charitable, cultural, economic, educational, environmental, literary, medical, religious,
scientific, or technological effect. (sos.tn.gov/products/business-services/profit-benefit-corporation)
? The BERO annual report was released with newly released data from the U.S. Census Survey of Business
Owners (SBO).
? BEST: Cohort 2 began in November at the Tennessee Prison for Women in Nashville. The BEST (Building
Entrepreneurs For Success in Tennessee) program, is designed to provide opportunities for personal
development and transformation, then teach business and entrepreneurial skills to better equip individuals for
successful reentry into the community after incarceration. (ec.co/best) There are 19 women from each of
Tennessee’s three women’s prisons participating in the program. Karen Vander Molen, the program’s director
and founder, presented at the Global Action Summit - video here.
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? 2015 Team Tennessee Governor’s Conference on Economic and Community Development
Presentations and video from the conference in October are available online, including the session slides
for Approaches for Supporting Rural Entrepreneurs.
? Access to Capital ?
Policy Dialogue: Crowdfunding Rules Announced. What Next?
kauffman.org/blogs/policy-dialogue/2015/november/crowdfunding-rules-announced-what-next
…The new rules on crowdfunding allow anyone with a net worth less than $100,000 to invest up to $2,000 (or 5
percent of their net worth, whichever is greater) over a 12-month period. If an investor has an income and net
worth greater than $100,000, they can invest up to 10 percent of their net worth. The new rules will be effective
Jan. 29, 2016.
Innovation Daily: Georgia gets first federal OK for crowdfunding business
innovationamerica.us/index.php/innovation-daily/49049-georgia-gets-first-federal-ok-for-crowdfunding-business--
online-athens
The nation’s first business with federal approval to use multi-state crowdfunding is a Georgia company building on
an innovative state law.
Atlanta-based Groundfloor snagged the prize. It was begun in North Carolina but moved to Georgia to take
advantage of the Peach State’s law that opens the door to small investors.
Frost, Brown, Todd: A Brief Guide to the SEC’s Final Crowdfunding Rules: 12 Facts You Need to Know
frostbrowntodd.com/resources-1855.html
By now, most people have heard of “crowdfunding” or have some idea of what the term means. Crowdfunding is a
technique for raising small amounts of capital from a large number of people over the Internet.
Less understood, however, is the distinction between (i) crowdfunding on websites like Kickstarter or GoFundMe,
which allow companies to fund ideas by giving away “rewards” (thereby avoiding the need to comply with federal
and state securities laws), and (ii) crowdfunding on websites that allow people to purchase an ownership interest
in a business (“equity crowdfunding”), which involves the purchase and sale of a security.
Field at the Aspen Institute: The Racial Wealth Gap, Narrowing the Racial Wealth Gap through Business
Ownership
assetfunders.org/images/pages/AFN_Racial_Wealth_Gap_-Strategy_Spotlight_2015.pdf
The growing racial and ethnic wealth gap presents a challenge for funders striving to build assets and tackle
inequality in the United States. One of the key reasons for the racial wealth gap is that African American and Latino
households hold lower levels of business and financial assets.
…Although business ownership may be an important means to build wealth in our economy, African Americans
and Latinos have encountered challenges in acquiring the capital, knowledge, and market access needed to grow
their firms.
Devex Impact: The next wave of development finance innovation
devex.com/news/the-next-wave-of-development-finance-innovation-87139
Impact investing has typically been a practice reserved for foundations, private equity or venture capitalists, but a
new crop of alternative investment opportunities are emerging that are bringing traditional financial institutions
more into the mix. In practice they are merely slight variations to the everyday debt and equity instruments that
banks deal with in large volumes every day. But these financial products add a development objective to an
investment goal and establish a key link between sustainability targets and commercial capital.
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In doing so they address a major funding dilemma facing social enterprises and sustainability-focused small and
medium-sized enterprises.
… Development impact bonds give banks an opportunity to invest in development projects and earn a return that
is not generated through donations or charitable giving. It allows them to fulfil their core objective of seeking a
return on investment. For civil society program implementers, a development impact bond can be a useful option
for leveraging a foundation’s finances to mobilize early volumes of commercial capital for development.
…There are more articles related to access to capital in the compilation from the past quarter below, too.
? Events and Items of Note ?
? January: National Mentoring Month, National Slavery and Human Trafficking Prevention
? January: NextFarm, a business accelerator focused on agricultural related ventures and
innovation is open for application.
? January 28: 2016 Farmer’s Market Boot Camp (1), White Pine. Registration deadline January 21.
? January 29: 2016 Farmer’s Market Boot Camp (2), Athens. Registration deadline January 22.
? February: Black History Month, Irish-American Heritage Month
? February 11-3: Pick TN Products, Knoxville. More information at tdaruralroutes.org/#04
? February 22: 2016 Farmer’s Market Boot Camp (3), Lebanon. Registration deadline February 15.
? February 24: 2016 Farmer’s Market Boot Camp (4), Winchester. Registration deadline February 17.
? February 20-23: International Franchise Association Convention, San Antonio, TX. More information
at convention.franchise.org/home.
? March: Women’s History Month
? March 2: 2016 Farmer’s Market Boot Camp (5), Trenton. Registration deadline February 24.
? March 3: 2016 Farmer’s Market Boot Camp (6), Centerville. Registration deadline February 25.
? March 14-17: Global Entrepreneurship Congress, Medellin, Columbia. More information at gec.co.
? March 21-24: National Reservation Economic Summit (RES) 2016, Las Vegas, NV. More information
at res.ncaied.org.
? March 22-24: Women's Business Enterprise National Council 2016 Summit & Salute, Phoenix, AZ.
More information at summit.wbenc.org.
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? And coming up…
? 26
th
Annual Government Procurement Conference: April 6, Washington, DC.
(fbcconferences.com/e/procurement/default.aspx)
? WPO 19th Annual Conference: April 7-9, Baltimore, MD. (womenpresidentsorg.com)
? eMERGE Americas: April 18-19, Miami, FL. (emergeamericas.org)
? Growing Entrepreneurial Communities Summit: May 4-5, Kansas City, MO.
(energizingentrepreneurs.org)
? 2016 Black Enterprise Entrepreneurs Conference: May 4-7, Miami Beach, FL.
(blackenterprise.com/events/entrepreneurs-summit)
? GROWCO: May 17-19, Las Vegas, NV. (growco.inc.com)
? 36|86, The Southern Series: June 6-7, Nashville. (thirtysixeightysix.com)
? Your Turn to Submit ?
What do we want to know about? We are looking for these:
Case Studies:
We have been spotlighting how organizations work
with clients. How they connect resources, and what
things that company or individual sought to accomplish
and did. It serves to highlight your range of services
and the company itself statewide.
Best Practices:
Your best practices can be anything from how you
process a client to programs developed to fill gaps that
are producing good results (i.e. business matchmaking,
mentor-protégée programs, loan programs, etc.).
Events:
What impactful events are you planning, co-planning
or promoting for DBEs? Include the basics of who,
what, when, where and how, with a link for more
information. Send events that take will place in the
next 6 months.
How to submit:
There is a lot of great work being done across the state
for DBEs. If you have questions that you would like to
see how other groups are solving and/or addressing,
send them along. Provide enough contextual
information so your question can be answered in a
relevant manner. Send to [email protected].
Feel free to suggest or forward on to others!
? Articles of Interest from the Last Quarter ?
Do you need a different option to look through these articles?
These articles are also posted in “DBE Topics in the News” section of BERO’s website at tn.gov/ecd/bero.
? DECEMBER ? DECEMBER ? DECEMBER ? DECEMBER ? DECEMBER ? DECEMBER ? DECEMBER ? DECEMBER ? DECEMBER ?
Biz Women: Survey says 2016 will be a good year for female business owners
bizjournals.com/bizwomen/news/latest-news/2015/12/survey-says2016-will-be-a-good-year-for-female.html
A Yelp survey of small business owners in its social referral network shows a lot of optimism for 2016.
The survey found that 85 percent of all small business owners expected revenue to grow next year. Among female
owners, that figure is 83 percent.
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Government Technology: Local Data: Where Are Businesses Starting Up?
govtech.com/data/Local-Data-Where-Are-Businesses-Starting-Up.html
…Interestingly, much of the growth stems from new minority-owned firms, the vast majority of which are self-
employed individuals operating unincorporated businesses. The number of black-owned firms grew about 34
percent, while Asian-owned firms climbed 24 percent from 2007 levels, according to national Census estimates. An
even larger increase -- 46 percent -- was recorded for Hispanic firms, prevalent in places like El Paso and Miami.
Data suggests Hispanic-owned businesses are overrepresented in certain industries, such as the sector that
encompasses administrative support, waste management and remediation services.
Biz Women: By the numbers: How women in business fared in 2015
bizjournals.com/bizwomen/news/out-of-the-office/2015/12/by-the-numbers-how-women-in-business-fared-in-
2015.html
Numbers can often illustrate a topic better than words. Take a look back at some key statistics from the year to see
how women fared in 2015.
… 45: Percentage of millennial business owners who are women
- Compared to 25 percent of baby boomer business owners
… About 1 million: Number of views of “CODEGIRL”
HBS Working Knowledge: Without Immigrants, We Wouldn't Have Google
hbswk.hbs.edu/item/without-immigrants-we-wouldn-t-have-google
What is the secret sauce of US commercial success? It’s the contributions of immigrants, like Google co-founder
Sergey Brin, who have made huge contributions to the technological and economic success of the United States,
argues Harvard Business School Professor Shane Greenstein.
Biz Women: New study shows price discrimination is alive and well
bizjournals.com/bizwomen/news/latest-news/2015/12/new-study-shows-price-discrimination-is-alive-and.html
What’s the difference between a red Radio Flyer scooter and a pink Radio Flyer scooter sold at Target? Nothing,
except the pink scooter costs twice as much.
Forbes: 30 Under 30: PartPic*/Jewel Burks
forbes.com/30-under-30-2016/manufacturing-industry/#2715e4857a0b1458ed3476cd
An entrepreneur from a family of entrepreneurs, Burks began her career at Google before her grandmother's
breast cancer diagnosis led her to decide to move back home to Atlanta. There, she took a job working at
McMaster-Carr, a top U.S. industrial parts distributor. But when it came to hunting down specific gears and other
bits of machinery from its stock of 550,000 products, it was a far cry from what she was used to at the search giant.
*PartPic, headed by Burks, a Nashville native, won the 36|86 pitch competition in June 2015.
Nashville Business Journal: Nashville a top city for businesses owned by women, millennials
bizjournals.com/nashville/blog/2015/12/nashville-a-top-city-for-businesses-owned-by.html
Among big cities nationwide, Nashville has one of the highest rates of millennial entrepreneurs that own small
businesses, according to a new study by the Kauffman Foundation.
GEW: Global Entrepreneurship Congress
gec.co
At the Global Entrepreneurship Congress (GEC) in Medellin, Colombia, thousands of entrepreneurs, investors,
researchers, policymakers and other startup champions will gather together to discuss "The Business of Next."
Delegates from more than 160 countries around the world will be talking about how to drive the entrepreneurship
spirit forward in their country.
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Nashville Business Journal: Nashville EC partners with Google to boost diversity
bizjournals.com/nashville/blog/2015/12/nashville-ec-partners-with-google-to-boost.html
The Nashville Entrepreneur Center is launching a new initiative in 2016 to help develop a more inclusive
entrepreneurial environment in Music City, according to a news release.
The initiative includes five scholarships for under-represented and minority members of the community. Recipients
of the scholarships will receive a one-year membership at the center and tuition for the PreFlight program.
Happy Migrants Day
blog.migreat.com
Today is International Migrant’s Day! The day celebrates our human history, the story of hundreds of millions of
courageous individuals who chose to overcome adversity and work at creating a better life for themselves in a
foreign country.
Ameyaw Debrah: BBC’s 100 Women | Half the World Speaks
ameyawdebrah.com/bbc-100-women-rns-for-2015-2/
Young, geeky and black in Memphis …The first episode focuses on Memphis, Tennessee – a majority black city and
the poorest metro area in the United States. It’s also home to a group of organisations and passionate individuals
working to get young, black women into technology and tech jobs. Presenter James Fletcher meets some of the
girls involved in Black Girls Code and Code Crew, and their teachers and mentors who feel that coding and tech
offer Memphis a path out of poverty
? NOVEMBER ? NOVEMBER ? NOVEMBER ? NOVEMBER ? NOVEMBER ? NOVEMBER ? NOVEMBER? NOVEMBER? NOVEMBER ?
Nashville Business Journal: Nashville startup makes Time's list of 2015's best inventions
bizjournals.com/nashville/blog/2015/11/nashville-startup-makes-times-list-of-2015s-best.html
Nashville-based music-tech startup Artiphon already had one pretty notable achievement this year: a $1.3 million
Kickstarter campaign that ranked as one of the crowdfunding site's best ever. Now the creators of the all-in-one
instrument have another feather to add to their cap, courtesy of Time magazine.
Daily News Journal: MTSU presents Global Entrepreneurship Week
dnj.com/story/money/business/2015/11/13/mtsu-presents-global-entrepreneurship-week/75722754/
… His MTSU talk, titled “From Darkness to Sight: A Story of Opportunity, Innovation, and Entrepreneurship,” will
take place from 7-8 p.m. Monday in the State Farm Lecture Hall, Room S102 of the Business and Aerospace
Building. It is free and open to the public.
McDowell will be host for workshops to teach MTSU students how to win a business-plan competition and also
overseeing Wednesday’s entrepreneurship fair for area high school students. New this year, the invitation-only fair
will feature participating students making elevator pitches and creating trade show displays to be judged by a
panel of experts.
HBS Working Knowledge: Developing Your Next CEO for the Family Business
hbswk.hbs.edu/item/managing-the-family-business-developing-your-next-ceo
…Bower makes a strong case for making “Insider Outsiders” your next CEO. These internal candidates with some
outsider views have a more objective and independent view about how your company needs to change and adapt.
Executives with the right mix of Insider and Outsider attributes, Bower claims, are likely to do a better job and
create more economic value as CEO. I agree but CEO selection is more complex for family companies.
Biz Women: 5 takeaways from the women of Fortune’s Global Forum
bizjournals.com/bizwomen/news/latest-news/2015/11/5-takeaways-from-the-women-of-fortune-s-global.html
Fortune’s Global Forum took place in San Francisco this week, and leaders from all industries provided insight on
doing business globally.
Popular topics included technology and leadership, which affect companies large and small.
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Economy Matters: Keeping Up with the Gazelles, Part 2: Why Gazelle Founders Set Sail
frbatlanta.org/economy-matters/2015/11/12/keeping-up-with-the-gazelles-part-two.aspx
In interviews with four dozen founders of fast-growing companies across the Southeast, Atlanta Fed researchers
identified three general paths that these entrepreneurs followed. Economy Matters staff writer Charles Davidson
profiles some of the prototypical gazelle founders.
Biz Women: 8 female founders on making the leap from corporate climber to entrepreneur
bizjournals.com/bizwomen/news/latest-news/2015/11/8-female-founders-on-making-the-leap-from.html
Today is Women's Entrepreneurship Day [November 19], a worldwide celebration of women who are leading
businesses and breaking barriers in the workplace.
…We are celebrating the day by asking business leaders about the moment they decided to make the leap, from
corporate climber to entrepreneur.
GEN News: 2015 Amway Global Entrepreneurship Report Released as Part of GEW 2015
wearegen.co/gew/2015-amway-global-entrepreneurship-report-released-part-gew-2015
… The report found that 43 percent of respondents around the world could imagine starting a business. Men (47
percent) were more willing than women (38 percent). University degree holders and those under 35 years old
(each 51 percent) showed the most potential. All this said, however, just 10 percent were currently self-employed,
sustaining the entrepreneurial gap of 33 percent from 2014.
Nooga.com: Pakistani Native, Female Entrepreneur Contributes to Local Economy with New Business
nooga.com/171641/pakistani-native-female-entrepreneur-contributes-to-local-economy-with-new-business/
Entrepreneur Amna Shah has been working diligently toward success since she came from Pakistan to the United
States at age 16.
…She now has 10 consultants and projects $1 million in revenue by the end of 2015.
"It ... feels good to give back to U.S., for it gave me my American dream," she said.
GEN News: GEW Celebrates Female Founders
wearegen.co/gew/gew-celebrates-female-founders
…The strategies to promote women’s entrepreneurship are different than for other demographic groups: beyond
stereotypes about their abilities, women face unique challenges that prevent them from becoming successful
entrepreneurs, such as a scarcity of female mentors. Only armed with more accurate information, program
coordinators and funders can make adjustments to address their particular challenges. We salute pioneers, such as
GEW Board member Rebeca Huang, in fighting this through vehicles like Rivet Ventures.
Venture Nashville: Bunker Labs for Veterans emerging at Nashville Entrepreneur Center
venturenashville.com/bunker-labs-for-veterans-emerging-at-nashville-entrepreneur-center-cms-1181
…The national Bunker Labs website lists services for active duty military anticipating an exit, and veterans who
have left military service. Peer-to-peer learning, with mentors, industry experts, an investor network and other
resources are described there.
GEN News: American Cities Celebrate Global Entrepreneurship Week
wearegen.co/gew/american-cities-celebrate-global-entrepreneurship-week
Global Entrepreneurship Week starts this morning with more than 10 million people participating in over 30,000
events in 160 countries. While the United States has in large part been the originator of the startup revolution now
unfolding across the globe, this renaissance of entrepreneurs is still relatively new for some parts of our nation.
This week we look at how GEW is celebrating emerging ecosystems in three American cities: Albuquerque, New
Mexico; Louisville, Kentucky; and Washington, D.C. - See more at: wearegen.co/gew/american-cities-celebrate-
global-entrepreneurship-week#sthash.IPToef3U.dpuf
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Fast Company: This Food Truck Spends Part Of Its Route Delivering Meals To Hungry Kids
fastcoexist.com/3052310/this-food-truck-spends-part-of-its-route-delivering-meals-to-hungry-kids
When a new Oklahoma City food truck isn't serving burgers at street parties, it will deliver free healthy meals to
kids who are struggling with hunger.
"As efficient as food banks are, they still have a hard time delivering food to the margins of our community," says
Mike Zserdin from Made Possible By Us, the startup launching the truck. "A lot of times the people who need the
food aren't able to get it at the delivery points."
Biz Women: NAWBO has a very specific idea for how women can help close the gender wage gap
bizjournals.com/bizwomen/news/latest-news/2015/11/nawbo-has-a-very-specific-idea-for-how-women-can.html
The National Association of Women Business Owners has an interesting proposal for narrowing the pay gap: More
women need to start their own businesses.
HBS Working Knowledge: Why Does Gender Diversity Improve Financial Performance?
hbswk.hbs.edu/item/why-does-lack-of-gender-diversity-hurt-performance
… He commented that improved performance is not about gender diversity, but rather about cognitive diversity--
"differences in the way that we see and categorize the world, the way we solve problems and the way that we
make predictions.” A comment from “The Real Deal” echoes this belief: “If you want real diversity, surround
yourself with people from different backgrounds who do not think like you. You could hire 50% women, and if they
are clones of your existing leaders, in terms of how they think … then you in reality have diversity only on paper.”
Times Free Press: Signal Mountain women start business from the yoga mat up
timesfreepress.com/news/business/aroundregion/story/2015/nov/03/business-help-people-believe/333770/
…It took about $10,000 to get My Mat My Mantra going, $5,000 from each of them, Fowler and Smith said. They
declined to share their company's revenue but said that for this calendar year through August it has doubled
compared with all of calendar year 2014....Fowler, 43, and Smith, 45, both mothers, were homemakers when they
launched the company.
Nooga.com: Dayton entrepreneur plans to expand to Chattanooga, carry on family's legacy
nooga.com/171496/dayton-entrepreneur-plans-to-expand-to-chattanooga-carry-on-familys-legacy/
Third-generation entrepreneur John Tipton is studying business management at Mercer University, and he plans to
expand his family's business from Dayton to Chattanooga when he graduates.
…He is becoming an entrepreneur because of his family, not for the money, he said. He wants to carry on his
family's legacy and be a part of the community and storytelling aspect of business ownership.
Teknovation.com: Enthusiasm, energy and inquisitiveness abound in YEA! Classroom
teknovation.biz/2015/11/02/enthusiasm-energy-inquisitiveness-abound-yea-classroom/
…It was one of 30 weekly classes scheduled well into next year where two dozen young people with an average
age of between 13 and 14 are learning about entrepreneurship – taking an idea and developing it into a business.
? OCTOBER ? OCTOBER ? OCTOBER ? OCTOBER ? OCTOBER ? OCTOBER ? OCTOBER ? OCTOBER ? OCTOBER ? OCTOBER ?
Knoxville News Sentinel: Tennessee farmers, rural small businesses net $2M in USDA grants
knoxnews.com/business/tennessee-farmers-rural-small-businesses-net-2m-in-usda-grants-ep-1340619428-
353332651.htm
The department’s Rural Energy for America Program funds energy efficiency improvements and renewable-energy
systems for rural small businesses and agricultural producers.
Dry Ridge Farm, a full-service equestrian boarding and training facility founded by then-UT student Alex Green in
2010, received more than $25,000 with the help of Knoxville contractor Aries Energy.
Nashville Business Journal: Nashville tech company named one of the best by Entrepreneur
bizjournals.com/nashville/blog/2015/10/nashville-tech-company-named-one-of-the-best-by.html
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A Nashville-based tech company made the cut of 10,000 to be named one of the best entrepreneur companies in
America.
Concept Technology Inc. was listed as one of Entrepreneur magazine's Best Practicers for 2015.
YouTube Wants Everyone To Watch This New Movie About Girls Who Code
huffingtonpost.com/entry/youtube-codegirl-streaming_562e1fb3e4b0aac0b8fd53f8
…In her new documentary "Codegirl," producer Lesley Chilcott profiles Technovation, a tournament in which high
school girls from around the world have three months to design an app that solves a problem in their community.
The trailer for "Codegirl"(video): youtube.com/watch?v=cRb5iel-3Ck
GEN News: Global Entrepreneurship Week 2015 Tops 160 Country Mark
wearegen.co/gew/global-entrepreneurship-week-2015-tops-160-country-mark
The 2015 Global Entrepreneurship Week (GEW) will be its largest celebration of entrepreneurship yet, with events
in 160 countries. From November 16-22, roughly 10 million people will take part in the eighth annual celebration,
recognizing and supporting entrepreneurs from around the world.
Fast Company: This Ninth Grader Invented A Device That Harvests Power From Ocean Waves
fastcoexist.com/3052431/this-ninth-grader-invented-a-device-that-harvests-power-from-ocean-waves
A few startups have spent millions developing massive underwater power plants that gather energy from ocean
waves. But a Florida teenager has invented a small-scale alternative, designed for the developing world, that costs
just $12.
Hannah Herbst, age 15, started thinking about renewable energy after talking with her nine-year-old pen pal in
Ethiopia. "I found out that she's living in energy poverty, and she doesn't have access to things that I take for
granted every day," Herbst says.
Huffington Post: Women in Tech: Entrepreneurs Gather in Chattanooga to Discuss Future of Startups
huffingtonpost.com/beth-cone-kramer/women-in-tech-entrepreneu_2_b_8328320.html
… According to the National Women's Business Council, in 2012, 9.9 million women-owned business in the United
States generated $1.6 trillion in receipts. However, per the St. Louis Business Journal just 14% of the total capital
invested by venture firms this year went to women.
SouthernAlpha: 8,000+ women engineers are gathered in Nashville — and ready for more to join the field
southernalpha.com/8000-women-engineers-are-gathered-in-nashville-and-ready-for-more-to-join-the-field/
… One special event that’s taking place on Saturday is Invent It. Build It, a program for middle school girls, families
and teachers where the girls will have a chance to do creative and challenging engineering activities. “They’ll meet
some incredible women in engineering and learn what it’s like to be an engineer,” said Randy Freedman, outreach
manager at SWE. “ Hundreds of engineers attending WE15 have volunteered to work with the girls, families and
teachers who attend the event.”
SSA-IRS Reporter (published in English and Español)
irs.gov/Businesses/Small-Businesses-&-Self-Employed/SSA-IRS-Reporter
An online-only publication for businesses, payroll professionals and others who work with payroll taxes and
employment tax issues.
Wired: Chattanooga is Offering Internet Faster than Google Fiber
wired.com/2015/10/chattanooga-is-offering-internet-faster-than-google-fiber
…Today the Chattanooga Electric Power Board, the city-owned power utility, says that it is now offering 10 gigabit
connections—nearly 1,000 faster than the average broadband connection in the US—
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Times Free Press: Startup Week's Angel Summit focuses on investment, community
timesfreepress.com/news/business/aroundregion/story/2015/oct/15/startweeks-angel-summit-focuses-
investment-community/330586/
[The summit] was for investors, to help them learn more about putting money to good use in startups. It brought
together accomplished entrepreneurs, business leaders and investors from across the country.
PR Newswire: Tech Entries Dominate 2016 Rural Entrepreneurship Challenge: American Farm Bureau Announces
Top 10 Teams
prnewswire.com/news-releases/tech-entries-dominate-2016-rural-entrepreneurship-challenge-american-farm-
bureau-announces-top-10-teams-300155952.html
The American Farm Bureau today announced the top 10 teams – four finalists and six semi-finalists – of the 2016
Farm Bureau Rural Entrepreneurship Challenge…
The final four teams, chosen from 165 applicants, were each awarded $15,000 and will advance to the next phase
of the challenge. …Farm Specific Technology (Bolivar, Tennessee), ag tech entry, no-till crimper for cover crop
production. Team lead: Shawn Butler.
Update - Tampa Bay Business Journal: AccuGrain of Iowa Honored as Farm Bureau Entrepreneur of the
Year
bizjournals.com/tampabay/prnewswire/press_releases/Florida/2016/01/11/DC95802
Garnering 49 percent of the vote, Farm Specific Technology of Bolivar, Tennessee, team lead Shawn
Butler, won the People's Choice award in the competition and an additional $10,000 in prize money for a
no-till crimper for cover crop production. Members of the live audience at the finals competition and
members of the general public voted online to select the People's Choice winner. Tennessee residents
cast the most votes (1,229) followed by Iowa (1,068) and Kansas (205).
Policy Dialogue: Crowdsourcing Crowdfunding Rules
kauffman.org/blogs/policy-dialogue/2015/october/crowdsourcing-crowdfunding-rules
Crowdfunding is opening up large amounts of early stage capital for entrepreneurs. As regulators struggle to write
new rules for this exploding phenomenon, they might do well to crowdsource their own questions and
experiences.
Tech Goes Home provides training, computers for low-income families
timesfreepress.com/news/business/aroundregion/story/2015/oct/14/bridging-digital-dividetech-goes-home-
brings/330374/’
For Edilzar Garcia, the American dream will be molded with a hot soldering iron… So far, Tech Goes Home
Chattanooga has helped 140 people, including 99 families, get better access to technology and digital literacy skills.
The program is being offered in 20 schools, libraries, churches and community centers this fall.
McKinsey Global Institute: How advancing women’s equality can add $12 trillion to global growth (video and
report)
mckinsey.com/insights/growth/how_advancing_womens_equality_can_add_12_trillion_to_global_growth
A “best in region” scenario in which all countries match the rate of improvement of the fastest-improving country
in their region could add as much as $12 trillion, or 11 percent, in annual 2025 GDP. In a “full potential” scenario in
which women play an identical role in labor markets to that of men, as much as $28 trillion, or 26 percent, could
be added to global annual GDP by 2025.
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? Contact Information ?
Wisty Pender
Director, Business Enterprise Resource Office (BERO)
Tennessee Department of Economic and Community Development
312 Rosa L. Parks Avenue
Tennessee Tower, 26th Floor
Nashville, TN 37243
tn.gov/ecd/bero
[email protected]
p. 615/741.8914
f. 615/401.6872
About BERO:
BERO serves as a voice for and advocate of economic inclusion for Tennessee’s disadvantaged businesses (DBE). The office is tasked to analyze,
disseminate and promote best practices and access to capital for DBEs to service providers. It also reports on the status of DBEs across the
state. For the purposes of BERO, DBE refers to businesses owned by women, minorities, veterans and persons with disabilities; as well as
businesses operating in remote or rural areas of the state.
About TNECD:
Tennessee was named 2014 and 2013 “State of the Year” for economic development by Business Facilities magazine. The Tennessee
Department of Economic and Community Development’s mission is to develop strategies which help make Tennessee the No. 1 location in the
Southeast for high quality jobs. The department seeks to attract new corporate investment in Tennessee and works with Tennessee companies
to facilitate expansion and economic growth.
Find us on the web: tnecd.com. Follow us on Twitter: @tnecd. Like us on Facebook: facebook.com/tnecd.
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