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Eight Tennessee startups nab $50K TTDC grants

Monday, March 21st, 2011

TtdcNASHVILLE, TN – Eight startups have won Tennessee Technology Development proof-of-concept grants of $50,000 each.

The companies include 4D Medical Systems, Oak Ridge; Foundation Instruments, Collierville; LED North America; Nutraceutical Discoveries; Phenotype Screening Corp.,Nashiville; The University of Tennessee Research Foundation (2 grants); Venture Incite and Y12 National Security Complex.

For background information on the companies see: Company descriptions.

Founders of the winning firms told Milt Capps of Venture Nashville the grants will help them achieve a number of goals, from refining their software to achieving scale.

TTDC President Leslie Wisner Lynch told Capps the grants also increase the chances of the winning firms receiving future venture capital.

Applicants for the grants must be affiliated with Oak Ridge National Laboratory, St. Jude Children’s Research Hospital, the Tennessee Board of Regents, the Tennessee Independent Colleges and Universities Association, the University of Tennessee System, Vanderbilt University and-or the Y-12 National Security Research Complex.