Memphis Bioworks Receives Growth Funds

MEMPHIS, Tenn. - Nine business accelerators across the state are getting money to spur entrepreneurship by offering mentoring, education, strategic support and assistance identifying sources of capital.

Each location will get $250,000, which is a combination of state and federal money and contingent on each accelerator providing at least $250,000 in matching support.

The Commercial Appeal reports the regional accelerator in the Greater Memphis region will be at the Memphis Bioworks Foundation. Other locations for the business accelerators include Martin, Nashville, Crossville, Chattanooga, Knoxville and Johnson City.

Gov. Bill Haslam said in a news release that startup companies have the potential to be a significant source of job creation.

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Information from: The Commercial Appeal, http://www.commercialappeal.com