Start Co. accelerator graduate Preteckt raises $300K

By

Seed Hatchery 2015 graduate introduces predictive vehicle maintenance technology

MEMPHIS, Tenn. (Feb. 2, 2016) – Start Co., a member of the Global Accelerator Network operating industry-specific accelerators each summer, today announced a new $300,000 capital raise for Seed Hatchery graduate startup Preteckt, a vehicle maintenance technology that monitors the health of commercial trucking fleets. This investment continues the Start Co. tradition of bringing together talent, investors and ecosystem support for startup success.

“Preteckt has demonstrated an exceptional ability to scale and poise their business for success,” said Eric Mathews, CEO and founder of Start Co. “We are proud to accelerate a logistics startup, as this is such an important industry for our Memphis economy.”

Preteckt was founded in Toronto by Peter Bassa, Sasha Kucharczyk and Ken Sills and is the first smart vehicle technology for fleets and drivers. The Preteckt software monitors all parts of a truck to predict specific part failure up to 30 days in advance, decreasing vehicle downtime by 30 percent. By avoiding the situations that cause unplanned downtime, trucks can be on the road longer and create more revenue. Most recently, the company finalized a contract for TransCarriers to implement the tracking software into their fleets across the U.S., increasing vehicle uptime by 3.3 percent and increasing profits by more than 35 percent.

“We’re so eager to bring our technology to new and existing customers in the coming months, helping them harness critical fleet data to reduce costs and maximize efficiency,” said Peter Bassa, CEO and co-founder of Preteckt. “This round of funding will help us expand our reach to provide even more technology capabilities and build upon our business model for continued success.”

As part of the post-acceleration program, since Demo Day Preteckt has maintained weekly office hours at the Start Lab, attended business development preparation sessions and various other workshops and strategy sessions led by Start Co. to help them prepare for investor meetings and term sheet development. Coupled with this round of funding, the Start Co. team helped its client and portfolio companies raise just over $13 million since 2011.

The Seed Hatchery, Sky High and Upstart accelerators will again run simultaneously through the summer in Downtown Memphis beginning May 2, 2016, allowing for streamlined integration of resources and mentorship for all founders and teams participating in the 100-day program. Programming this year will feature mentorship, weekly training sessions, business development, cohort reporting sessions and actionable milestones. More information and applications for all three programs are available at neverstop.co through March 1, 2016.

About Start Co.:

Start Co. is a nationally recognized nonprofit 501(c)(3) venture development organization based in Memphis, Tennessee, that relentlessly builds founders and companies, promoting entrepreneurship for everyone with a focus on digital startups. Start Co. is a member of the Global Accelerator Network and aims to advance Memphis’ economic growth through entrepreneurship. The organization is supported by partners including American Airlines, Archer Malmo, Baker Donelson, The Marston Group, Mosaik Solutions and Softlayer (an IBM company).  More information can be found at neverstop.co.

About Preteckt:

Preteckt was founded in Toronto in 2014 by an astrophysicist (Ken Sills), a designer (Peter Bassa) and a robotics engineer (Sasha Kucharczyk). The company has since moved its operations to Memphis, Tennessee, and has leveraged its combined talents in machine learning, customer discovery and business strategy to develop a product that allows trucking fleets to optimize their operations and minimize costs by predicting part failure up to 30 days in advance. Preteckt is online at preteckt.com and on Twitter @Preteckt.

Start Co. opens applications for its sixth round of accelerator programs

By

Organization seeking B2B and social innovation startups; teams in Seed Hatchery and Upstart programs to receive $25,000 of investment capital

MEMPHIS, Tenn. (Nov. 9, 2015) – Start Co. today announced that it is accepting applications for its Seed Hatchery (enterprise technology), Upstart (women-led technology) and Sky High (social innovation) accelerators. This year the Start Co. Angels and Innova Memphis will continue their partnership to provide $25,000 of investment capital into teams accepted in the Seed Hatchery and Upstart programs.  As a Global Accelerator Network (GAN) member, Start Co. teams this year will also be considered by a new venture fund designated for investment exclusively into GAN programs.

“We’re thrilled to continue offering our accelerator teams access to the tools and resources needed to help them grow their valuations and rapidly progress their ideas,” said Eric Mathews, CEO and co-founder of Start Co. “We’re building on success from the previous two years to continue developing our programs to provide the best possible curriculum for our teams.”

Start Co. is looking for B2B technology startup founders who are passionate, flexible, coachable and execution-oriented.  Their startups should be unique, have high-growth potential and exhibit a national or global reach. Those interested in applying can find more information and applications at neverstop.co. Applications will close March 1, 2016 and those accepted will begin their entrepreneurial journeys at the Start Lab May 2, 2016.

The three accelerator programs will again run simultaneously over the summer, allowing for streamlined integration of resources and mentorship for all founders and teams participating in the 100-day program. Accelerator programming this year will feature mentorship, weekly training sessions, business development, cohort reporting sessions and actionable milestones. Start Co. business partners and accelerator mentors include American Airlines, Archer Malmo, Baker Donelson, The Marston Group, Mosaik Solutions, Softlayer (an IBM company), Springboard Enterprises and more.

“Our programming is unique in that mentor and investor participation is critical from day one, enabling founders to receive the important feedback needed to build their business models quickly and correctly,” continued Mathews.

After Demo Day in August, graduated teams are expected to continue to build their businesses while receiving post-acceleration support for at least another three months. Select alumni teams are also invited to participate in an annual investor day and technology tour in San Francisco in October; this year’s trip included 11 alumni startups. Additionally, graduate startups DivorceSecure, LendMed and Preteckt have recently been accepted into the 2015-16 class of Launch Tennessee’s “The TENN” virtual post-acceleration program, which began Oct. 21 and is comprised of the best startup companies from Tennessee’s nine startup accelerators.

Since 2011, Start Co. graduates have received investment of over $12.7M. For more information about Start Co. portfolio and client companies, and to apply for accelerator programming, please visit neverstop.co.

About Start Co.

Start Co. is a nationally recognized nonprofit 501(c)(3) venture development organization based in Memphis, Tennessee, that relentlessly builds founders and companies, promoting entrepreneurship for everyone with a focus on digital startups. Start Co. is a member of the Global Accelerator Network and aims to advance Memphis’ economic growth through entrepreneurship. The organization is supported by partners including American Airlines, Archer Malmo, Baker Donelson, The Marston Group, Mosaik Solutions and Softlayer (an IBM company).  More information can be found at neverstop.co.

 

Start Co. hosting annual 48-Hour Launch Nov. 20 – 22

By

WHAT:

Start Co. is hosting its annual 48-Hour Launch event at its office space Downtown Nov. 20 – 22.

Approximately 100 individuals with varying backgrounds will come together to pitch ideas, form teams, and build a startup in merely 48 hours.  Sound intense?  It is.  Each formed team will present its business to the Memphis community Sunday, Nov. 22, at 3:30p.m. A panel of judges will award prizes including a first place prize of $500 cash, 10 hours of mentoring with a Start Co. team member and a three-month co-working membership at Start Co. for two people (a $2,000 value). Program leaders and event participants are available for interviews upon request.

  • 48-Hour Launch is a community-focused event in which individuals can jumpstart their business plans in the span of just a weekend. Tickets are $15 and those interested can sign up here.
  • Attendees will each have two minutes to pitch their business ideas beginning at 6 p.m. Friday (Nov. 20), where the most popular ideas will then be selected to move forward to form teams.
  • Teams will have access to professional assistance from Start Co. partners including Archer Malmo, Baker Donelson, The Marston Group and Mosaik Solutions.

Start Co. also recently sponsored TechCamp Memphis Nov. 7 in coordination with Capital C, a professional-level code school in Memphis aiming to begin classes in 2016. A one-day event offering educational and networking opportunities for technology users at all levels, TechCamp included sessions led by area experts on content creation and design, online marketing and development. Both Start Co. and Capital C presented sessions.

 

WHEN/WHERE:

Nov. 20 6 p.m. – Nov. 22 6 p.m.

Start Co.

88 Union Ave., 2nd Floor

Memphis, Tennessee 38103

 

ADDITIONAL INFORMATION:

Start Co. is a nationally recognized nonprofit 501(c)(3) venture development organization based in Memphis, Tennessee, that relentlessly builds founders and companies, promoting entrepreneurship for everyone with a focus on digital startups. Start Co. is a member of the Global Accelerator Network and aims to advance Memphis’ economic growth through entrepreneurship. The organization is supported by partners including American Airlines, Archer Malmo, Baker Donelson, The Marston Group, Mosaik Solutions and Softlayer (an IBM company).  More information can be found at neverstop.co.

Musistic Brings Musicians Together

By

(Memphis Daily) This is the fifth in a five-part series on the four businesses and one alternate chosen as fellows in the Delta Regional Authority’s Delta Entrepreneurship Network.

Jimbo Lattimore

(Courtesy of Delta Regional Authority)

Imagine being an artist who wants to collaborate with another musician who lives five states away or even on another continent.

The logistics of recording together is a nightmare at best, and impossible to get together at worst. Jimbo Lattimore and the other founders of Musistic saw the problem firsthand and realized a solution was possible.

They created Musistic, a music collaboration platform that allows musicians to record with anyone in the world on any platform. They created a plugin that is a tool that runs inside recording software.

View the full article in The Daily News

MyCollegeSTREAM Opens Social Media Doors

By

(Memphis Daily) When high school students choose a college, more than financial aid availability and potential majors go into the decision.

In the university world, there is an abundance of activities, organizations and academic schools with news to share. And in today’s world, news often is shared via social media channels.

But following a school’s main Twitter feed isn’t enough. Individual colleges, honors societies, athletic teams, Greek organizations and many others have their own social media channels. Tracking all of them can be a challenge.

Imagining what MyCollegeSTREAM might have meant for his own experience drew co-founder Bryant Warren to the startup.

(Courtesy of Delta Regional Authority)

Brian Summerhill said the purpose of his startup is to make the process easier for prospective students, their parents and guidance counselors. He is the CEO of MyCollegeSTREAM, an education technology company that created a Web-based app that uses college social media accounts to engage with students. The service helps students research post-high school opportunities such as trade schools, community colleges and public and private universities.

Read the full article at The Daily News