According to findings released last week by one of the country's
leading entrepreneurial associations, most startup owners who opened
a business during the past year are optimistic about the future of
their companies.
The Ewing Marion Kauffman Foundation, in collaboration with
LegalZoom, issued its inaugural "Startup Confidence Index" to
measure the state of startups in America. The report will be
compiled quarterly, with the next edition arriving in April.
Leading off their premier edition, Kauffman leaders discovered
that an overwhelming majority of entrepreneurs polled - 81 percent -
believe their businesses will be more profitable this year than last
and more than two-thirds expect the economy to stabilize or improve.
Also encouraging was the revelation that 25 percent of
respondents plan to hire new employees in 2012. For more details on
the index, visit online at kauffman.org.
In addition to the Kauffman findings that revealed a rising sense
of optimism in entrepreneurial sectors across the country, an
inspiring development also surfaced last week in Memphis.
The good news arrived with the official launch of the ZeroTo510
entrepreneurial accelerator program, which focuses on biomedical
device research and manufacturing.
The initiative is the brainchild of leaders at the Memphis
Bioworks Foundation and Innova and is affiliated with the Greater
Memphis Accelerator Consortium.
Focusing on the health care and medical device industries
ZeroTo510 will make significant educational, financial and
professional investments in a half-dozen local startups with the
expectation of sizable returns. The companies must either be based
in Memphis, or the entrepreneurs behind the ventures must be willing
to relocate here to participate in the program.
Organizers maintain that ZeroTo510, with its focus on medical
devices, is the first of its kind in the nation.
Ken Woody, partner at Innova and ZeroTo510 board member, said the
program is already attracting notice from around the world. And
mirroring that spirit of entrepreneurial optimism reported by
Kauffman, Woody said response to ZeroTo510 has been overwhelmingly
positive.
"I think people appreciate this kind of innovation and commitment
and the willingness of investors to say, 'Yes. We believe in your
concept and we're willing to invest $150,000 in it,'" Woody said.
"There's optimism from entrepreneurs who believe they can create a
successful company and take it to market and there's optimism from
investors because they're excited about the potential for
significant returns."
The potential for significant returns also exists for Memphis.
Allan Daisley, director of innovation and sustainability
initiatives for Bioworks, said the program demonstrates a solid
commitment to entrepreneurial excellence.
"We have a strong presence in the research and medical device
communities and supporting startups in those areas stands to
positively affect the lives of all Memphians through increased
economic development and more jobs," Daisley said. "This is an
exciting, proactive step toward supporting a vibrant and sustainable
entrepreneurial ecosystem."
Applications for ZeroTo510 are being accepted and deadline is
April 5.
