We, the members of the Tennessee Innovation Advocacy Council, a dedicated group of leaders, stakeholders, and innovation enthusiasts, are writing to you with a shared commitment to advancing technology in the state of Tennessee. Together, we envision a Tennessee that stands as a globally competitive innovation hub, stimulating economic growth, fostering entrepreneurship, and generating high-quality job opportunities for our citizens.
At the Tennessee Innovation Advocacy Council, we have worked tirelessly to promote innovation in our state. To further our mission and achieve our vision, we are requesting your support for a once-in-a-generation investment in our statewide innovation ecosystem. We have outlined five key initiatives that we believe will significantly enhance the Tennessee innovation landscape:
- An advanced manufacturing program to incentivize the development of lab spaces | $50M: This initiative aims to address the availability of lab spaces, a significant barrier faced by entrepreneurs in Tennessee. By incentivizing the construction costs of lab spaces, we can create an environment conducive to innovation and technological development.
- A matching fund to bring more federal commercialization and technology-based economic development funding to the state | $80M: We seek to bridge the gap in leveraging federal innovation funding by establishing a matching fund. This fund will ensure that Tennessee companies, communities, and institutions can access and benefit from federal programs supporting tech and innovation-based economic development.
- A statewide technology transfer office to unleash our innovation potential | $15M: By establishing a technology transfer office, we can provide statewide access to technology transfer support, enabling innovative ideas from our universities and higher education institutions to reach the market.
- An industry-led investment program to invest in Tennessee startups | $30M: This initiative aims to de-risk corporate investment in Tennessee startups while providing valuable opportunities for startups to solve corporate business challenges. By fostering collaboration between established industries and startups, we can drive innovation and economic growth.
- A one-time investment to seed venture studios in strategic Tennessee growth industries | $40M: The development of venture studios will create centralized spaces for Tennessee startups to accelerate their technologies. By providing essential resources and support, these venture studios will ensure that startups are not only created but also thrive within our state.
We invite you to join our collaborative effort to advance innovation and build a brighter future for Tennessee. Your support in funding these initiatives is crucial to our collective success. By investing in our innovation ecosystem, we can position Tennessee as a leader in technology and entrepreneurship, creating opportunities and driving economic prosperity for all residents.