Memphis is a city rich in entrepreneurial history. Holiday Inn, Autozone and of course FedEx all hail from the Bluff City.
More recently the entrepreneurial spirit in Memphis has been rekindled by the likes of StartCo, Memphis Bioworks, CoWork Memphis and Emerge Memphis. All of the organizations and spaces function independently and then collaborate for the greater good.
Now FedEx the global delivery giant, is stepping into the startup accelerator space. FedEx is no stranger to startups of modern day either, Chairman and CEO Fred Smith was a founding board member of Startup America.
FedEx is working with Epicenter and Bioworks in a collaboration that should see six logistics focused startups accelerate in Memphis.
“With a competitive advantage in supply chain integration, unparalleled business-to-business capabilities, four modes of transportation readily available to connect local companies to a global marketplace and a workforce that has expertise in logistics technology, Memphis can provide the ideal ecosystem and mentorship for this new business accelerator,” said Leslie Lynn Smith, president of EPIcenter, Southern Alpha reported.
The six teams selected will receive a $25,000 seed investment from Innova a venture firm that has backed previous Memphis based accelerators like the popular ZeroTo510.
ZeroTo510 is a one of a kind accelerator recently hailed by TechCrunch as one of the best accelerators. They specialize in taking medical device startups through the 510k process which allows companies to bypass the traditional and excruciating FDA approval process, based on similarities in technology.
As for the logistics companies, the application process is open now.
The accelerator will run during the summer when the bulk of the Tennessee accelerators take place.