Logistics entrepreneurs begin local accelerator program

Five entrepreneurial teams have been selected for the 2015 EPIcenter Logistics Innovation Accelerator, which is sponsored by FedEx, and began the 14-week program this week. The 2015 participants represent a diverse set of logistics technology solutions.

Burro, from Austin, Texas, is a father and son team who are leveraging the popularity of ridesharing and applying it to local deliveries. LiLoE, from Washington, D.C., is founded by a U.S. Navy veteran who is working on a solution to the doorstep delivery of unattended packages. L7, of Memphis, Tenn., is developing an online marketplace for consumer-to-consumer shipping options. One Click Ship, from San Francisco, is developing a website that aggregates available shipping options and costs for freight forwarders. Thaddeus Medical Devices, founded by a former Mayo Clinic researcher from Rochester, Minn., is developing a device that regulates package temperature.

The EPIcenter Logistics Innovation Accelerator is unique among entrepreneurship programs in that it focuses on technologies and products that enable and enhance logistics, leveraging the region's strengths as the world's distribution hub.

The accelerator is operated by EPIcenter, a collaborative and community-wide strategic initiative that is helping entrepreneurs conceive, launch and scale businesses in the Memphis region. Beyond the accelerator, participants will also have access to EPIcenter-led collaborations among entrepreneurial support organizations in Memphis, as well as support from the full ecosystem in the region.

“Memphis has unparalleled logistics expertise and capabilities, which makes it ideal for a business accelerator in this space,” said Leslie Lynn Smith, president of EPIcenter. “We’re thrilled to bring these companies from across the country here to Memphis to connect them with our vibrant entrepreneurial ecosystem and the resources they need to grow.”
Through a partnership with the University of Memphis, the accelerator will also leverage resources of the staff and space at the FedEx Institute of Technology.

“Entrepreneurial inspiration and a commitment to innovation have allowed FedEx to expand its footprint around the world,” said Richard W. Smith, vice president, Global Trade Services, FedEx Express. “We are proud to support EPIcenter as it seeks to tap that same entrepreneurial spirit in our hometown.”

The five companies received $25,000 in initial seed capital from Innova, a Memphis-based venture capital firm that has invested in more than 35 early-stage companies and co-founded the ZeroTo510 Medical Device Accelerator with Memphis Bioworks. At the end of the 14-week program, the participants will pitch to a group of investors, business leaders and community supporters at Demo Day, on November 19, 2015, for the opportunity to secure additional funding to further develop their businesses.