News release: Epicenter Launches Initiative to Build Diverse Pipeline of Innovative Entrepreneurs
Program made possible by generous support from MassMutual Foundation
[MEMPHIS, Tenn, January 28, 2025] Epicenter, Memphis’ leading hub for entrepreneurs, startups, and corporate innovators, announced the launch of Innovate Xcelerate, a new program intended build an inclusive, diverse pipeline of entrepreneurs and entrepreneurship culture in Memphis supporting financial resilience and economic growth for our future innovators. The Innovate Xcelerate program is made possible in part by a $380,000 grant from the MassMutual Foundation.
The two-year program begins on February 7 with a design thinking workshop at Epicenter, followed by a Hackathon, led by CodeCrew, taking place from March 7-9. The program will initially be open to all Memphis residents aged 18 and older. After the Hackathon, ten teams will receive initial funding to develop prototypes of their products and will participate in a yearlong accelerator where they’ll receive technical assistance, legal and accounting support, marketing guidance, and access to corporate buyers. At the culmination of the program, at least three finalists will receive up to $25,000 in capital investments, with additional funding opportunities available.
This program is the continuation and evolution of a relationship that began in 2020 with a grant Epicenter received from the MassMutual Foundation, through the facilitation of Consilience Group, to bring training and resources to small businesses in Frayser as a part of the Frayser Connect program. While supporting Frayser Connect, Epicenter learned that small capital infusions alone are insufficient to build a business. Consequently, without additional support, promising yet underestimated business owners within the Memphis community cannot reach their full potential. This observation gave rise to the Innovate Xcelerate program.
Innovate Xcelerate will be led by Choya Johnson, who previously served as Capital Programs Specialist at Frayser Connect. Johnson’s experience from previous MassMutual Foundation-funded programming will aid in the growth and scale of Innovate Xcelerate. “Through my time working with entrepreneurs and small businesses at Frayser Connect, I saw firsthand the value additional resources like capital and training courses can have,” said Johnson, Entrepreneurial Programs Specialist at Epicenter Memphis. “With the support of the MassMutual Foundation, we’re able to take the work we’ve done in Frayser and provide targeted resources to innovative entrepreneurs who have been overlooked in the past.”
Epicenter has successfully navigated an ever-changing landscape to develop the partnerships, services, and programs required to serve Memphis’ growing entrepreneur community. Epicenter’s flagship programs include ZeroTo510, a nationally recognized MedTech accelerator, the Logistics Opportunity Challenge, Patents2Products, and the Capital Readiness Accelerator.
About Epicenter
Epicenter leads the entrepreneurial ecosystem in the Memphis area through a network of economic development, academic, corporate, and government partners by increasing support to new and existing innovative businesses, academic entrepreneurs and others across industries and stages of growth. Epicenter and its partners connect these entrepreneurs and their innovative ideas to programming, capital, customers, and talent in order to create a just, inclusive, and growing economy that accrues to all Memphians. More information is at epicentermemphis.org.
