Nashville is a place that’s known for its entrepreneurial spirit, and it seems that a new startup capital is being created in Nashville as the city looks to attract more startups to fill a void left by the closure of Nashville-based Music City B.C.
The new venture, which is based in Nashville and has raised over $2 million from investors, aims to bring an infusion of VC money to the city.
“We are in a very competitive industry.
The city has a very young startup scene,” said founder and CEO Adam Hochberg.
“There are a lot of good ideas out there that are really going to drive the economy and drive growth, and there are so many people out there looking for opportunities to grow their business.”
Hochberg said that there’s been a lot more attention paid to startups in Nashville in the last year, and that there has been a resurgence in the city’s startup scene.
“It’s very much like the tech bubble,” Hochburg said.
“People are saying, ‘Why aren’t there more companies in Nashville?’
It’s because there’s too many of them.”
Hocke, who is also the director of operations for Nashville’s Capital Region Economic Development Authority, said the city has been focusing on attracting more startups and the Nashville Venture Capital Fund is looking to fill the void left in the area.
“The city of Nashville is always looking for innovative, high-growth companies that are building on their experience, their resources, and their capital,” Hocke said.
He added that Nashville has “the largest startup ecosystem in the country.”
Nashville’s incubator network, called the Techstars Nashville, has been instrumental in bringing in a large number of new venture-backed companies.
Hochburg and Hockelberg said they are confident that the Nashville VC will make an impact in Nashville.
“They have the ability to really get this industry going and build up the capital that Nashville needs,” Hochez said.
Hockel said he’s excited to see what the city is able to attract from its startup ecosystem.
“I think it’s really a very exciting time in Nashville, and I’m looking forward to seeing what we can bring to the table,” Hichberg said.
The Techstars has already been able to help Nashville build a strong tech startup scene in the past, and Hochberger said he believes that Nashville’s VC community will be able to be as successful as they have been in attracting more companies.
“What we’ve seen in the community is really exciting,” Hocaesberg said, adding that the capital has already given a lot to the community.
Hocaesig, the other founder and chief executive of Nashville Venture Partners, said he thinks Nashville is in good hands.
“This has been the incubator of the world,” Hachasberg said in a press release.
“As an incubator, Nashville Venture has seen over $1 billion in seed and venture capital dollars invested in Nashville startups and accelerators.
The success of Nashville’s startup ecosystem, and the city of Memphis as a whole, will only continue to grow.”
Hocainger added that he is excited to be part of a startup community in Nashville that’s focused on building a great tech ecosystem, which he said will ultimately benefit Nashville’s economic growth.