- The convergence of cooperation between the private sector, academia, and government is a critical component of increasing innovation within Nashville.
- Currently some see corporate participation in promoting innovation as weak. Corporations have skunkworks projects within their organizations that no one knows about. The corporate culture does not encourage their growth, builds upon them, or takes advantage of their potential. These ideas need to be better utilized by corporations and if necessary spun out of the companies?
- Our local universities need to instill/encourage a more entrepreneurial spirit within their faculty and programs. Places like Stanford and MIT have a history and culture of entrepreneurship.
- More Colabs and maker spaces can lower the barrier for entry to budding entrepreneurs and provide a place to explore and test new ideas. They can help outsource the R&D of business as well as bring employees together to cross pollinate. Vanderbilt is including wet lab in their new Innovation Center. This is a unique asset. With Nashville’s strong healthcare market including wet labs as a part of a maker space would be beneficial. Example
- Nashville has good angel investor resources. Nashville needs to work on the middle (Series A&B). Often times companies once they begin to grow have to leave the Nashville market to be closer to the venture capital funding their next stage.
- This migration can also be a positive because it can increase our connections to venture capital centers. This is the “long game view”
- Wilson Sensing , a law office catering to startups in San Francisco established a entrepreneurial hub in SoMa. The central part of the office is used by various start ups they represent.
- As Nashville attracts more seniors for retirement, home healthcare tech is following.
- Attracting more talent is an important issue for developing successful product teams. Companies move where the CEOs want to live. (How will this change for larger companies in the future as leadership changes?) There is a concern once the entrepreneurial talent is here that we must be able to keep them and their new company here.
- Non-compete laws in Tennessee are more stringent than California. This makes it easier for companies to spin off.
- The it comes to attracting talent and start ups, mass of companies is helpful. Wedgwood-Hosuton was discussed as having a lot of resources in one place.
- Cost is an important factor when it comes to office space, residences, and other amenities. There doesn’t seem to be any areas of Nashville that aren’t experiencing significant appreciation. All areas of real estate are in play. Areas should be mapped to determine cost and identify those areas that have the potential for lower cost.
- Austin should be studied as a model for development.
- The Entrepreneur Center (EC) is oriented toward programs. The EC doesn’t have enough space to host communities. Do we need more specific ECs? Food accelerator, Social EC, Music EC? There are some who are frustrated with the EC because they are trying to do too much. When it comes to EC and other similar types of organizations what is the expectation when someone shows up?
- Entrepreneurs often do not fit into programs. They need access to resources.
- Leadership programs are also more about a process/program than building solid networks and support.
- TSU also has an incubator. It is centrally located. How does it support entrepreneur community?
- VUMC is focused on students.
- Challenges can be very effective in motivating/inspiring entrepreneurs to address particular issues. Should the City sponsor challenges to deal with City related problems? What about companies and educational institutions? Could they sponsor related challenges? They are very specific expectation of what to do for winning teams. Offer resources to implement ideas/solutions.
- Could the Fairgrounds and/or the old Greer Stadium site offer opportunities to build affordable space? How could they both accommodate community needs and additionally start up space, maker spaces, or other needed amenities? Could affordable housing be incorporated?
- How could vacant Metro land be utilized more effectively to offer amenities and keep space affordable?
- Where can large hackathons be held? Skyways studio spaces was discussed.
- Redeveloping an area gracefully is difficult. How do you create new resources, opportunities, and amenities without disrupting the authenticity and existing residents? Dealing with gentrification is an important issue. How do you fill in organically?
