Jumpstart Foundry announces the spin out from Solidus Company and capital raise.
Nashville, TN February 11, 2014
Jumpstart Foundry (“JSF” or “the company”), has raised a round of venture capital from a diverse group of investors and with Clayton Associates leading the round. This capital will support both the annual accelerator and the new corporate innovation joint venture with the Nashville Entrepreneur Center – Jumpwerx. “It is an exciting step that capitalizes the firm and positions us to reach our full potential as Nashville’s engine for corporate innovation and successful start-ups,” said Vic Gatto, CEO and Founder of JSF.
With four years of experience, Jumpstart Foundry established itself as a top accelerator with many successful alumni and a success rate over 60%. Each summer, Jumpstart selects 10 startup teams to participate in its 14-week mentor-based cohort. JSF was established by Solidus Company, a Nashville based venture capital firm. During the first four years of JSF’s operation, Solidus provided much of the capital. In order for the company to fulfill its mission and continue growing, it is spinning off into a fully independent company. “This funding partnership is very significant for our city” says Michael Burcham, CEO of the Nashville Entrepreneur Center, “both Jumpstart Foundry and Jumpwerx are key partners of the EC and make a significant impact on the entrepreneurial landscape of Nashville.”
Jumpstart Foundry CMO and Co-Founder, Marcus Whitney, talks about the market opportunity in front of the company: “Jumpstart Foundry has involved the entire Nashville venture community in the process of developing innovative tech companies through modern methodologies and mentorship for the last four years. It’s exciting to continue this legacy while bringing our expertise and talent to corporations seeking to innovate like the leading startups in the region.”
Solidus Company remains a sponsor and key supporter of JSF, however the spin out will allow the company to establish relationships with many venture capital firms across the country. “Solidus will always be a Founder and supporter of Jumpstart Foundry, but the time was right for it to break off on its own and capitalize on the incredible market opportunity in innovation,“ said Townes Duncan, President of Solidus. “I’m excited to see how it grows and evolves.”
The investment round was lead by Clayton Associates. Stuart McWhorter, Chairman of Clayton Associates said “We are excited about the Jumpstart Foundry platform. Our firm has always been passionate about seed and very early-stage investing. Our investment in Jumpstart provides our firm the opportunity to strengthen our presence in the seed stage investment cycle. It further enhances the continuum of venture capital investing by complementing our angel fund, Rolling Hills Ventures, and our venture capital fund, FCA Venture Partners.”
Jumpstart Foundry is currently gearing up for its 2014 accelerator program. If you have a big, innovative idea and need help successfully launching – apply here: http://jsf.co
About Jumpstart Foundry
Jumpstart Foundry (JSF) provides a platform of services to support & foster innovation in start-ups and large corporations in the Southeast US. It fast-tracks successful technology businesses from launch to investment through a 14-week, mentor-driven acceleration program capped by an Investor Day showcase. Jumpstart also partners with large corporations through its Jumpwerx program. Jumpwerx uses an immersive learning program to invent new solutions for large companies while training key employees in a learn-by-doing the curriculum.
For more information, please visit http://jsf.co