This EDA investment funds the launchtn industry networks expansion project, to implement an expansion of the recipient's industry networks model

The LaunchTN Industry Networks Expansion Project will provide $7.957 million in services to expand Tennessee's commercialization programs under a Project Grant awarded by the Department of Commerce Economic Development Administration (EDA).

The grant funds will support LaunchTN, the state's entrepreneur support organization, to implement an expansion of its proven Industry Networks model through October 2025. Specific services include further developing the state's assets in advanced energy, agricultural technology, automotive/mobility, and life science sectors while establishing new networks in consumer products/advanced manufacturing and financial technology. The expansion aims to bolster connectivity and job growth across Tennessee.

Additionally, the funding will grow LaunchTN's Entrepreneurs-in-Residence program statewide and ensure founders and companies in targeted industries receive support accessing early-stage capital through the BUILD TO SCALE federal grant program (CFDA 11.024). Once completed, Tennessee's expanded commercialization ecosystem is expected to stimulate further high-skill job creation and economic opportunity across the region.

The project will help (1) further tennessee's technology assets and previous work with the advanced energy, agricultural technology, automotive/mobility, and life science industry sectors, and add new industry sectors of consumer products/advanced manufacturing and financial technology, bolstering the recipient's proven industry networks model; (2) expand a statewide implementation of entrepreneurs-in-residence (EIR) programs, leading to further connectivity in targeted regions; and (3) ensure founders and companies in key industries have support accessing early-stage capital. Once implemented, tennessee's commercialization programs will increase job creation in the region and help ensure that founders and companies in key industries, as well as traditionally underrepresented founders, have support in accessing early-stage capital.