Across the American Inno network of publications that covers 45 cities in the U.S., the Inno Fire Awards highlight innovative organizations and people who have had a year worth celebrating. Honorees could be startups, accelerators, or nonprofits buoying startups. They could be researchers or institutional leaders who rally innovators and give them the tools they need to succeed.
Memphis’ innovation ecosystem is growing swiftly, and the city isn’t short on high-caliber startups and individuals worthy of this award. There are many organizations and people in the community that could be considered “on fire.” But after careful consideration, MBJ and Memphis Inno have chosen five to highlight.
Below is a profile of one of the 2022 Inno Fire Award honorees — Epicenter — and a Q&A with Jessica Taveau, the organization's president and CEO.
Jessica Taveau
President and CEO, Epicenter
Successful startups can and should be celebrated. Launching and growing one is an immense challenge, and it’s one that requires a significant amount of passion and effort. But no startup can soar without support.
And that’s where Epicenter comes in.
A nonprofit, Epicenter supports the Mid-South’s entrepreneurial ecosystem in a variety of ways. It recently launched its 10th annual ZeroTo510 Medical Device Accelerator, which has brought an array of promising medical device startups to the Bluff City. It’s partnered with the University of Memphis on the P2P program, which hires post-doc fellows to start businesses, and gives them the tools they need to succeed. It’s connected the city’s fledgling companies to an array of resources and created Investable Memphis, an online, Bluff City-focused startup directory that seeks to connect potential investors and mentors with entrepreneurs.
Epicenter is, in many ways, the hub of entrepreneurship in the Memphis area — and it’s a hub that’s continuing to grow.
In 2021, Epicenter moved its headquarters from its Cooper Young office to Peabody Place Downtown, where it occupies about 20,000 square feet on the building’s ground floor. The nonprofit made the change amid significant growth, and now, it’s looking to the future.
We asked Epicenter’s president and CEO, Jessica Taveau, about the past year, and the years to come. This Q&A has been edited for clarity and space.
MBJ: What have the biggest highlights of 2022 been for your organization so far?
Jessica Taveau: The Epicenter team has had much to celebrate in 2022. We launched the milestone 10th cohort of the ZeroTo510 Medical Device Accelerator. Together with the University of Memphis, we recruited the second cohort of the Patents2Products Ph.D. post-doc fellowship, a partnership that creates a funded position for research entrepreneurs and provides them with the necessary tools for launching a successful startup.
We’ve onboarded new companies and partners in our Downtown headquarters. We reconvened in-person meetings of the Memphis Investment and Advisory Club, which provides opportunities for angel investors to hear pitches from local founders who are raising funds and seeking connections to help them scale. We’ve welcomed a new venture capital partner, Ridgeline, to Memphis. We continued to collaborate with partners to seek transformative resources for our region.
We’ve added two new directors to our board, Aarti Bowman and Gloria Boyland, under the leadership of our board chair, Kojo McLennon. And of course, any time an entrepreneur meets a milestone or reaches a goal is a highlight for our community.
What big wins has Epicenter had in funding this year? As a 501(c)3 nonprofit organization, we’re grateful for the individual, philanthropic, corporate, and public sector donors who believe in local entrepreneurs and who know that their investment into the Memphis ecosystem has an exponential impact on our economy.
Have you made any new hires in the past year, and what are your hiring plans in 2023? We’re proud to have hired Dr. Sheneka Balogun as director of business growth operations. Dr. Balogun is leveraging her expertise to build a more robust and efficient triage system that connects business owners to needed resources, tracks progress, and measures outcomes. Gillian Tinnin is our new community associate, and she’s creating a vibrant and collaborative work and meeting space for founders and partners in our Downtown office.
What’s the most fun you've had with your colleagues in 2022? We recently ventured out for a team-building painting project at Orijennal Art, a locally owned business. We really enjoyed seeing how each of our team members interpreted the original artwork and made their painting their own. The experience both validated what we knew about each other and offered new revelations about our team members. And we laughed really hard together.
You’ve been selected for this honor because your organization has been, in a sense, “on fire.” What’s been the fuel that’s kept this flame burning? Local entrepreneurs are always at the center of our work — our organization exists to support them and the growth of their businesses. They create the fire that fuels us and inspires us. Sitting around that fire is our team, as well as our ecosystem of partners in capital, programs, academia, and the public and private sectors. Further supporting us are the essential counsel and investments from our board of directors and donors, who deeply understand the importance of entrepreneurship to the growth and sustainability of our economy.
What are your key areas of focus for 2023? As we plan for 2023, our priorities are clear. We will continue to build community among business owners, which is more important now than ever. We will strengthen our system for connecting entrepreneurs to resources needed to launch, grow, and accomplish their goals, and we will scale those resources to meet the needs of Memphis businesses. We will work with partners to build entrepreneurship training capacity in our neighborhoods. We will tell the stories and raise the visibility of Memphis-area entrepreneurs, as well as advocate for policies that benefit them — locally, regionally, and nationally. We’ll do this work with a mission of being the front door to all entrepreneurs in Memphis and Shelby County while ensuring our entrepreneurial community reflects our majority Black and majority female population.
What do you think the biggest opportunities and challenges will be next year? The biggest opportunity lies within the biggest challenge. More businesses are started within economic downturns, for a variety of reasons. We are always here to support Memphis businesses to help ensure they weather whatever cyclical economic conditions may come — and emerge stronger.
Where do you see your organization one year and five years from now? We measure much of the success of our organization by the success of local entrepreneurs. In five years, our goal and intention is that resources to start or scale a business are abundant and easily accessed and navigated by all of our citizens. More capital — both early stage and follow-on — will be flowing to women and people of color, who have received a tiny percentage of overall venture investment. Our young people will better understand that entrepreneurship is a viable career path in Memphis, and they will know and be inspired by founders and business owners who are forging the path before them. Our region’s entrepreneurial ecosystem will be more connected and continue to grow its impact on our economy.
We’ve made progress over the past five years, but we have a lot of work to do in the next five.
