There's no better place for tech entrepreneurs than East Tennessee | Opinion

Entrepreneurs take extraordinary risks without a lot of assurance that when they jump, there will be a soft landing at the end of the journey. Whether someone decides to invent a new product, improve business services or develop innovations that help drive our economy, every entrepreneur requires help to survive and thrive in an ever-changing marketplace. If you are an ambitious creator, you'll find few mid-sized communities match the entrepreneurial support than in your own backyard.

The East Tennessee region has unique assets that position it as a valuable location for businesses to establish themselves, develop and thrive. The one-of-a-kind triangle of support is anchored by Oak Ridge National Laboratory, the Tennessee Valley Authority and the University of Tennessee at Knoxville. While these juggernauts of innovation often drive the conversation, the region’s entrepreneurial resources extend far beyond to support all levels of business incubation.

There is intentional investment of capital, energy and resources toward technology-based companies. Specifically, ORNL’s Innovation Crossroads program is a magnet for hard-tech entrepreneurs. The two-year fellowship program provides entrepreneurs with lab space, a stipend, a mentor and a substantial grant to use on research and development initiatives. Since the program’s inception, IC has supported 38 startups, which created 200 jobs and generated $10.7 million in regional revenue. Upon graduating from the program, several of the companies, including Sky Nano, Eonix, Electro-Active Technologies Inc. and FC Renew, opted to stay here.

In a Teknovation.biz article, SkyNano co-founder and CEO Anna Douglas reinforced the decision: “It really was a catalyst. I’m not sure we’d be here today without it. The Knoxville hard-tech ecosystem has been so instrumental for our growth at SkyNano. We’re eager to help other companies find their footing here so they can grow successfully right here.”

TechStars: Industries of the Future welcomed its third cohort of nationwide innovators to Knoxville on March 12. Techstars is a highly competitive national accelerator program that advances world-class startups in emerging technologies like artificial intelligence, manufacturing, quantum information science, biotech, cleantech and more.

The Spark Innovation Center at the University of Tennessee Research Park seeks to keep many of those companies local. The Spark Incubator and Cleantech Accelerator programs provide the entrepreneur with lab space, business development workshops, mentorship, connections, stipends and business acceleration services. They often as the bridge between the entrepreneurial community and the university and operate as a pipeline for students at UT who may be involved with the Anderson Center for Entrepreneurship and Innovation at the Haslam College of Business.

What if you’re not a tech entrepreneur but still have big ideas? No problem. The team at the Knoxville Entrepreneur Center creates programming and community for entrepreneurs of all kinds of expertise. They cater to “makers,” which includes full-time artisans and hobbyists, typical brick-and-mortar businesses, service-based startups, technology and more. In addition to community events, the KEC hosts workshops, pitch competitions and continuing education for founders to find their footing. The KEC/Innov865 teams host the annual “Innov865 Week,” a week-long celebration shining a light on founders, startups, small businesses, students and local investors.

Local startups also turn into larger companies and give back, like at PYA, where this nationwide top-100 professional services company is celebrating its 40th year in business. The “PYA Ballard Innovation Award,” which provides the largest gift of cash and in-kind services to East Tennessee’s entrepreneurs, launches its annual pitch competition in April. The top five applicants will make presentations to an esteemed panel of judges, and the top three winners will receive a portion of the $65,000 bounty of cash and in-kind services.

The list of organizations that support the well-being of the entrepreneurial ecosystem in this region is vast and grows each year. There will always be risk with new ideas, but if you’re an East Tennessee entrepreneur, there’s no better place to be and no better time than now to jump off the cliff and harness your potential.

Larsen Jay is a member of Knox County Commission, holding At-Large Seat 10.

This article originally appeared on Knoxville News Sentinel: Opinion: The best place for tech entrepreneurs is East Tennessee