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Memphis Becoming a Magnet for Entrepreneurs

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(Memphis) Memphis is on the rise when it comes to attracting entrepreneurs.

"If you look at the portfolio of companies over the last year, eight different start-ups moved to Memphis to pursue their dream," said Andre Fowlkes, Co-President of Launch Your City.

After years of sitting dormant in areas like Information Technologies, Memphis is becoming a magnet.

"I think the expertise is here," said Fowlkes. "I think we've finally stepped onto the scene as far technical sense is concerned. I think the cost of living really helps. Dollars can go much, much further as far as an entrepreneur is concerned, with such little angel seed funding out there, this is a great place to move forward."

It's organizations like Launch Your City, that Fowlkes says is creating a new culture of entrepreneurship in town. Their program Seed Hatchery gives tech entrepreneurs the resources they need to succeed.

"We put them through a three-month bootcamp in sense of programming, technical sense, around the clock expertise so hopefully to increase their investible story to put them in front of a roomful of investors to help hopefully get the dollars they need and help launch their business to the future," said Fowlkes.

He says even though Memphis has come along way, it still has a ways to go, but he says the future is bright.

"The degree of separation here is very small," said Fowlkes. "You can touch almost any executive, even the mayor if you need to when it comes to launching your business and accessing resources which is very hard to find in the likes of San Francisco or New York City."

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