Logistics Innovations Accelerator hosts inaugural Demo Day

The Memphis EPIcenter Logistics Innovations Accelerator, based at the FedEx Institute of Technology at the University of Memphis, held its inaugural Demo Day on Nov. 19.
 
“EPIcenter aims to convene and catalyze the entrepreneurial resources provided by our partners around our community. Together with these partners, EPIcenter is pursuing a common goal of creating a robust and vibrant entrepreneurial ecosystem in Memphis and the Mid-South region,” explained Leslie Lynn Smith, President of EPIcenter. “The goal of the logistics accelerator is to help entrepreneurs turn their innovative ideas into high-growth businesses.”
 
“During the 90-day accelerator period, entrepreneurs go through an intense, mentorship-focused program that includes classroom activity, hands-on exercises and mentor sessions. The companies spend the bulk of their time on market validation and proofs-of-concept. In return for an equity stake, each participating company received a $25,000 investment to work on developing the initial product and business model.”
 
There are three aspects of this accelerator that make it unique among entrepreneurial programs: focus, access and location. The program is focused on technologies and products that enable and enhance logistics. Additionally, with FedEx as the sponsor, the program provides unprecedented access to a community of logistics professionals, corporations and resources. And being located in Memphis means that the accelerator is strategically located in America’s distribution hub.
 
“In a city offering air, rail, road and water transportation options, this accelerator is in close proximity to the world’s second busiest cargo airport, five Class 1 railroads, the mighty Mississippi River and the I-40/I-55 corridors, making it the ideal place to launch new logistics innovations,” said program emcee Elizabeth Lemmonds, Director of EPIcenter Logistics Innovation Accelerator.
 
At the recent Demo Day, four entrepreneurs presented their businesses to the community and potential investors; LiLoE, L7, Thaddeus Medical and OneClickShip.

“We could not be happier about the outcomes of the inaugural accelerator or the progress of the cohort,” said Smith. “We’ve learned a lot throughout our first year, and next year, we’re aiming for expanded attraction activities across the country, deeper engagement with the corporate community here in Memphis, a broader mentor base with expertise in logistics, and the attraction of more outside follow-on investment into these extraordinary companies.”