Nashville as an Ecosytem

In the early 2000’s, renowned urban planner, Richard Florida, identified Nashville as a city for explosive growth and innovation based on the co-location of cultural and creative individuals (“bohemians”) with highly educated individuals and high-technology industry (collectively, the creative class).¹ By 2013, his prediction proved true with the NY Times labelling Nashville an "It" city.²  Since then, Nashville has grown by 26% and attracted the headquarters for organizations like AllianceBernstein, Oracle, and iHeartRadio.  The startup scene has exploded alongside it and, in recent quarters of the year, Nashville is the fifth largest center for venture capital investment in the United States (behind only the Bay Area, New York, Los Angeles, and Boston).³ When taking into account other factors related to building a startup, one can make a strong case that Nashville is the most favorable ecosystems domestically.  

Originally created by the Tennessee General Assembly in 1998 to advance technology development in the state, Launch TN has evolved into a public-private partnership that promotes entrepreneurship, capital formation, and workforce development. Notable programs led and underwritten by Launch TN include:

• The 36 | 86 Conference which happens each fall and convenes startup founders, venture capitalists, and dynamic speakers for a multi-day conference. Think SXSW but Nashville.
• Matching funds for startups receiving SBIR / STTR grants from the federal government.
• The InvestTN Fund which provides equity investment (pre-seed, seed, Series A, Series B) and debt for startups in the state.
• LabShare which connects entrepreneurs with leading edge research laboratories across the state to develop and test technologies faster.
• Paid internships with startups within the state.
• A job board listing all available startup positions within the state.

Known locally as “the EC,” the Nashville Entrepreneur Center has gathered resources to power the success of local startups. With coworking, education, and event space in the Nashville Trolley Barns, the EC provides a front door for entrepreneurs in Nashville, hosts multiple events each week, and runs dedicated accelerators for Fintech, Healthcare, and Music + Entertainment.

Several Vanderbilt Alumni joined the 75-member task force that paved the way for its creation and Vanderbilt Owen Professor Michael Burcham served as its founding Chief Executive Officer. In conjunction with the Nashville Chamber of Commerce, the EC hosts the NEXT Awards each fall in a grand event to recognize outstanding companies and entrepreneurial leaders.

Vanderbilt alumni inducted into the EC’s Hall of Fame during the NEXT awards include Beth Chase (BA ’85), John Ingram (MBA ’86), Ken Levitan (BA ’79), Pam Pfeffer (MS ’68), Phil Pfeffer (PhD ’68), Ron Samuels (MBA ‘84), Becca Stevens (MDV ’90), Cal Turner (BA ’62), and Steve Turner (BA ’69).

Established in early 2024 by Vanderbilt University and Nashville Mayor Freddie O’Connell, the Nashville Innovation Alliance unites most of the organizations and others in a public-private partnership to drive the future of Nashville forward. It is specifically focused on developing and implementing a city-wide strategy for inclusive innovation growth. Within Vanderbilt, the Chancellor has convened an Innovation Ecosystem Advisory Group to aid this effort with Dean Tom Steenburgh and Professor David Owens of the Owen School serving on the committee.

Launched in as an outpost of the Nashville Venture Capital Association, the Greater Nashville Private Capital Association (GNPCA)tbrings together the region’s family, venture capital, and private equity offices for education and collaboration. In total, the Middle Tennessee region has 30 venture capital funds headquartered here with $41.2 B in assets under management. An additional 60 venture firms have offices here and another 30 firms have representatives in Middle Tennessee without a formal office. Over 160 venture deals totaling $1.3 B occurred in our backyard during fiscal year 2023.

The Greater Nashville Tech Council seeks to advance the Nashville’s $8 B tech ecosystem by connecting and promoting members, attracting and growing the tech talent base, and providing opportunities to reinvest in the Greater Nashville community. David Condra (BE ’69) was an early driver for the creation of the Technology Council and there has been a long connection between the council and the Nashville Capital Network (founded on the third floor of Owen by Sid Chambless BA ’96, MBA ’03). Each fall, the Tech Council puts on an Annual Innovation Summit where cybersecurity, AI, and data analytics feature heavily. The Tech Council also provides a co-working space and hosts a number of workshops throughout the year.

Founded in 1987, the Entrepreneurs’ Organization provides a peer-to-peer network for connections, learning, and shared experiences. To join EO, an entrepreneur must have reached $1 MM in revenue for their business and/or meet other criteria depending on venture backing and industry of focus. The EO Nashville Chapter has over 300 members making it the third largest EO chapter in the world and largest in the United States. It also has the largest number of female entrepreneurs of any chapter in the United States. For those entrepreneurs who have reached the $250,0000 revenue mark, Owen Professor Michael Burcham created the curriculum for the Catalyst program which helps businesses grow to $1 MM plus.

Run by fierce champion and dynamo, Haley Zapolski ("Zap"), the Lighthouse is a co-working space and community for Nashville founders.  Conveniently located one block from campus, founders have access to programming, recruiting, an annual hackathon, an annual anti-conference (Lightning), and special purposes vehicles for raising capital (Thunderstruck SPV).

"Great companies are being born here."

- Robin Shah, Co-founder and CEO, Thyme Care