Memphis Tech Company Otto Announces Breakthrough in Machine Learning for Malware Detection
When there is a global shortage of cybersecurity staff and now record-high cyberattacks we all need help. Thankfully, a tech company that was built right here in Memphis, Tennessee, called otto, announced the release of its automated JavaScript security platform, ottoBox. It uses machine learning to combat sophisticated attacks coupled with its user-friendly ‘Inbox Zero’ interface so that technical and non-technical teams are equipped with a highly effective security solution that is easy and intuitive. While otto has clients all over the world, large and small, the business got its start in the Memphis startup ecosystem when founder, Maggie Louie moved from LA to Memphis. While their first investments came from Memphis, since then Maggie and her team have raised money from great investors across the US. Their current HQ in the University of Memphis Research Park on Highland. Learn more about otto and their new product in their recent release here: https://www.digitaljournal.com/pr/otto-emerges-from-stealth-mode-announcing-breakthrough-in-machine-learning-for-malware-detection
Lucky Launches Truly Connected Commerce Revolution with $3MM+ Seed Round
Great news from the team at Lucky, Sneh and Nafis! They recently announced that they raised a $3MM+ Seed Round led by Unusual Ventures, with participation from Plug and Play Ventures and a group of inspiring angels. You may recall Lucky participated in Start Co’s accelerator program. They have come a long way including some important product and service changes. Today, Lucky makes it easier for people to purchase products from direct to consumer brands they love by filling the data gap between online experiences and local retail inventory. Instead of having to wait days for fulfillment from a distribution center, consumers can find local inventory of the same products for pickup or local delivery instantly from the eCommerce pages of the brand they are visiting. This leads to much better and more sustainable eCommerce experience for direct to consumer brands. Beyond this, for brands as well as retailers, the Lucky platform gives critical insights into key patterns of retail purchase behavior and geographic demand based on specific customers and products. The power brands and retailers gain to accurately merchandise and scale through data-driven decisions offers both parties the capability to grow with each other. “We are very happy for the Lucky Team. Sneh and Nafis have done an amazing job in leading themselves and their business since joining our program,” said Start Co. CEO, Eric Mathews, who serves on Lucky’s board and continues to advise the team as it grows. If you are looking to
Go-to-Community Strategy Vs. Go-To-Market Strategy for Startups
If you ask any business if they have a go-to-market strategy, the answer will definitely be a resounding yes. However, there is a new form of strategy in business that is rapidly rising that may be just as important: go-to-community strategy. What exactly is a go-to-community strategy? Let’s compare and contrast it with a go-to-market strategy. A go-to-market strategy is a linear process of pushing people towards a binary endpoint of buying a product or service. You can think about the classic sales funnel and the steps in that funnel as the essence of a go-to-market strategy from advertising to store/website to purchase. Go-to-market strategy is all about value capturing and the inputs for this process reflect this overarching goal. The output of go-to-market strategy is likely measured by more tangible figures such as sales, profits, or contracts signed. Let’s contrast this with a go-to-community strategy. First, It is important to note that go-to-community strategy is not simply another way of saying marketing. Go-to-community strategy would reflect more of a value creation methodology for the members themselves. The output for go-to-community strategy is measured by the growth of the community, the strength of the connections, the actions and activities of the community members, and retention of the community members. Members of a community may be current or future customers but not necessarily. In the world of software developers, there are community members that contribute to the betterment of open source projects with the need to be compensated
Start Co. Partners with Elastic
Start Co. is happy to announce that Elastic is joining our family of partners that are digitally advancing our community of entrepreneurs and innovators. Elastic is a software company that allows thousands of companies worldwide, including Uber, Netflix, and Microsoft to explore and analyze their data differently using the power of search. Their offerings include solutions for Enterprise Search, Observability, and Security. Quote from Chris Pearson Senior Manager of Community for Elastic: “Elastic believes in the importance of startup ecosystem building, and we want to support growth and well-being of ecosystem support organizations. To do so, we’re supporting organizations who share in that mission and are already doing great work towards that goal.” To learn more, visit their website.
ROI: Return on Internship at Start Co.
When searching for an academic internship for the fall semester this year, the career services staff at Rhodes College (based in Memphis, TN) presented me with many options, and I found it very hard to narrow down what I really wanted to spend my time doing for an entire semester. That’s when I came across Start Co. and their mission to grow the greater Memphis economy through digital advancement. I was introduced to the founder, Eric Mathews, and knew it was the right choice — this was something special and unique and I wanted to be a part of it. What was truly captivating early on were the opportunities for real learning including how an actual business operates. The bonus was working directly with Eric. On my first day, Eric asked about my passions and helped tailor a role for me as an associate at Start Co.– they call all their interns associates to set expectations for performance. It showed right away; rather than giving me an arbitrary assignment or busy work, I utilized my interests and talents, creating a work-return balance so that I actually enjoyed firing up my laptop and getting to work. At first, I was tasked with learning all about Start Co., what they offered, and thinking about where I would want to contribute and take action during my time with them. Over time, I found that what I was researching and presenting to Start Co. was extremely flexible as the Company is constantly looking for
The Digital City Memphis Discussion Panel
Memphis’ Digital City Smart People & Smart Tech Transform a Community On October 19, 2021, Start Co. joined the Downtown Memphis Commission and the Greater Memphis Chamber to share details about the Digital City and how local leaders will harness its capabilities to drive positive social change and economic growth. This conversation took place at the Smart Cities Connect Conference and Expo in Washington, D.C. where hundreds of city leaders, community innovators, and technology experts gathered to discuss how the adoption and integration of smart technology solutions can lead to the betterment of cities, communities, and their citizens. Speakers: Andre Fowlkes – President of Start Co. Ted Townsend – Chief Economic Development Officer of the Greater Memphis Chamber Paul Young – President & CEO of the Downtown Memphis Commission Moderator: Rachel Reilly – Founder of Aces & Archers Recap Speakers began the discussion by providing context on the state of economic development, innovation, and entrepreneurship in Memphis from a regional, city-wide, and neighborhood perspective. “What we are working to do is ensure that those [living in Downtown Memphis] during the down years are going to benefit from the new growth that is coming, from the opportunities that are coming.” – Paul Young, Downtown Memphis Commission Andre Fowlkes provided an overview of the Digital City. Fowlkes then spoke to how the Digital City’s capabilities and attributions (i.e. the Consortium and the Smart Entrepreneurship Engine) will have a direct impact within its Downtown Memphis footprint, and will deliver benefits that will radiate
Digital City Memphis Pitch Competition
The Digital City Memphis is now accepting applications for the 2021 pitch competition. This competition is presented by Start Co. and is designed to give you the opportunity to showcase your innovation to a panel of experts and a chance to win a cash prize. Startups focused on mobility and transportation, data analytics and visualization AI and machine learning are encouraged to apply. Apply Here: https://www.f6s.com/digital-city-memphis-pitch-competition/apply Pitching at the virtual event is FREE and is an opportunity to: – Expand your network and showcase your technology; – Acquire practical advice from experienced VC professionals and accelerator operators; – Finalists will have the opportunity to participate in a virtual pitch workshop and sign up for 1:1 office hours with experts prior to the competition as an additional bonus within the competition All finalists will participate in a live virtual pitch competition on December 9th. Each pitch will be 3 minutes with an additional 3 minutes for Q&A with the judges. About The Digital City Memphis The Digital City is being built in Memphis, Tennessee, a vibrant city with an incredible soul that is ready to transform the city into a thriving hub of civic problem solvers. The Digital City invites new partners to embark on innovation programs that are already inspiring new solutions to big challenges. By combining smart city technology with an entrepreneurial approach across 50+ blocks in Memphis’ downtown core, The Digital City is creating a more connected, collaborative community. About Start Co. Start Co. is a venture architect
Workforce Development with Shared Data: Results from Los Angeles
In response to the Great Recession, leaders looked for protective measures against widespread losses within the national economy while also creating opportunities for resilient recovery. Lawmakers enacted the Workforce Innovation and Opportunity Act to address this need. The law improved the workforce development system overall, including new responsive services, upskilling support (education which corresponds to modern careers), emphasizing public access to information that would allow potential workers to make informed career decisions, and finally data-driven approaches. That last part turns out to be critical. Moving beyond prior methods of employment support, there is now a focus on predictive analysis to get ahead of supply and demand issues in the job market with data informed workforce development. This approach for instance could be used to identify which industries will be more adversely impacted by aging populations of workers and then help design and model incentives and training paths towards those career paths. As another example, we saw that during the Great Recession and the COVID-19 Pandemic that retirement age professionals take the slowed business activity as a sign to finally retire, leaving gaps in industry. While a system may not be able to predict an infectious disease epidemic, it could give us warning signs as to what our pressing needs will likely be leading up to a downturn. These sort of data-driven workforce analyses are moving further into the mainstream but how will cities embrace this change? The push to create a data-driven, innovative workforce development program utilizing
Getting to Smarter Solutions, Faster
Getting to Smarter Solutions, Faster How Data is Being Leveraged to Improve Communities and Economic Competitiveness On September 22, 2021, Start Co. hosted a virtual convening with experts from across the nation to discuss ways in which data is being used to strengthen quality of life, access to opportunity, economic growth, and government decision-making. Guest speakers provided examples of how their organizations are using data to support public and private sector leaders’ efforts to address economic, social, and civic challenges, and they also shared insights on lessons learned and best practices that can be leveraged in Memphis. Experts: Mariela Alfonzo, Ph.D – CEO of State of Place Ross DeVol – President and CEO of Heartland Forward Mike Beevor – Expert in Residence at DigiCity The conversation was moderated by Start Co.’s President, Andre Fowlkes, with support from Rachel Reilly of Aces & Archers. Fowlkes began the discussion by highlighting Start Co.’s work with startups, partners, and clients that are launching technologies and innovative civic solutions to help strengthen communities. He also shared information on the Digital City initiative in Memphis, TN which is dedicated to creating a data visualization environment that can be used to better understand trends and existing conditions, as well as inform public- and private-sector decision-makers. Dr. Mariela Alfonzo, CEO of State of Place, then shared information about the value-add her company provides to civic leaders tasked with identifying public investment priorities. State of Place is helping local governments quantify the ties between urban design and quality of
Data-for-Good Convening
Getting to Smarter Solutions, Faster How Data is Being Leveraged to Improve Communities and Economic Competitiveness We have entered a new age of decision-making where data can be captured passively and actively, aggregated and analyzed, and then used to make increasingly accurate predictions about near- and long-term outcomes. That information is being used to create data-driven solutions which are accelerating and strengthening efforts to expand opportunity, improve communities, and advance local economies. This era of analytical abundance is quickly transforming the world, and creating competitive advantages for public- and private-sector leaders who embrace this shift. However, communities that have the most to gain from implementing data-driven solutions are often unable to do so due to social, economic, and even geographic divides. Inclusivity is key, and those working collaboratively to use data to inform decision-making have the potential to advance their agendas more effectively and will set a new bar to make meaningful civic and social impact for all. On Wednesday, September 22, Start Co. will host a virtual convening during which experts from across the nation will discuss ways they use data to strengthen quality of life and access to opportunity, government decision-making, and economic growth. Guest speakers will also share insights on lessons learned and best practices that can be leveraged in Memphis. Register to join! Guest speakers: Mariela Alfonzo, Ph.D – State of Place Ross DeVol – Heartland Forward Mike Beevor – DigiCity Date: September 22 , 2021 2:30 – 3:30 pm CT