Scheduling conflicts led Memphis startup Health & Bliss to drop out of the statewide business accelerator, but that means a locally based company—HutGrip—now has a spot in the program, which is called The TENN.
Twenty businesses recently pitched for a chance to participate in The TENN, and judges chose 10, including one local company called HATponics.
The top 10 chosen got access to $10,000 in funding and an array of resources and connections that will be made available during a tour of the state.
After the Memphis company dropped out, leaders added HutGrip, whose leaders also recently pitched at the Gig Tank Demo Day.
HutGrip is cloud-based software that monitors manufacturing processes, so leaders manage their processes and predict and prevent equipment failures, according to Nooga.com archives.
HutGrip sensors collect and store data—temperature, humidity, speed, pressure, flow, vibration levels, energy consumption per machine and others.
At their Gig Tank pitch, team leaders said they were currently working with six businesses in five different industries, such as wine making and snack cake production, to perfect the product.
They were seeking $500,000 and strategic partners in the manufacturing world.
The TENN winners are participating in a state roadshow, which kicked off today and comes to Chattanooga on Wednesday.
The roadshow includes stops throughout the state, where the startups will meet with executives at companies such as Eastman Chemical, Scripps Networks Interactive, BlueCross BlueShield of Tennessee, HCA, First Tennessee and FedEx.
Participants will have a chance to network, present short elevator pitches and receive feedback at each visit.
The TENN is part of public-private partnership Launch Tennessee, which aims to support the development of high-growth companies throughout the state with the goal of job creation and economic growth.
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