“Accelerate Appalachia” is a new collaboration among four organizations including Sync Space
Heath Guinn describes the initiative as a “beacon for the region.”
“We’ve been focused on developing the ecosystem the last two years,” says Heath Guinn, Founder and President of the Sync Space Entrepreneur Center in Kingsport. “Through this focus, we’ve seen nearly $4 million of new resources awarded to our region’s entrepreneurial network.”
As is the case with all programs that are supported by Launch Tennessee, Sync Space serves a nine-county region in Tennessee, but also extends its non-Launch Tennessee activities into parts of three other states: Eastern Kentucky, Western North Carolina, and Southwest Virginia.
When we talked with Guinn, he was most excited about a new initiative named “Accelerate Appalachia.” Describing it as a “beacon for the region,” it is a collaborative effort between the East Tennessee State University (ETSU) Research Corporation, Ballad Health Systems, Appalachian Highlands Center for Innovation, and Sync Space which will leverage support from regional organizations and Launch Tennessee to promote entrepreneurial programs throughout the Appalachian Highlands region.
According to the newly-launched website, the partnership will integrate all aspects of the regional entrepreneurial ecosystem in support of early stage company growth with a particular emphasis on biomanufacturing initiatives and other regional comparative advantages in medical and rural health care, ag and med tech, advanced manufacturing, logistics, and entertainment tech.
“Accelerate Appalachia,” through the ETSU Research Corporation and Sync Space, will run a new initiative named the ß-Tech Accelerator. It is an early stage start-up program that identifies, recruits, and nurtures high-potential start-ups through tailored programs, creating a pipeline of scalable ventures that drive regional economic growth. Through its comprehensive support system that encompasses business mentorship, access to funding, and specialized facilities, the Accelerator helps companies overcome commercialization hurdles and scale up to meet market demands.
Applications for the accelerator program will open in spring 2025.
A second aspect of the “Accelerate Appalachia” initiative is developing a robust Intellectual Property Commercialization program that will identify promising research and assist in patent prosecution. ETSU’s Research Corporation is already the holder of all patents emanating from ETSU-based research and will assist in the coordination of the regional Intellectual Property Commercialization program, and will join the LaunchTN led Tennessee Technology Advancement Consortium (TTAC).
Two other aspects of the “Accelerate Appalachia” program include a regional seed fund and formation of the formal Appalachian Highlands Regional Mentor Network. Guinn cites Personality Pool, based in Kingsport, as an example of what the region needs more of. It was the first start-up that received funding from the “InvestTN” program that is managed by Launch Tennessee, and Guinn’s goal is to help create 10 more in the next few years.
To do that, he and his colleagues are also announcing Catalyst Capital LLC, with the Appalachian Investors Alliance (AIA), a Knoxville-based group, to create a Northeast Tennessee-focused fund. In early September 2024, the Appalachian Regional Commission awarded AIA $3,889,964 to establish micro-venture and angel funds for entrepreneurs and small businesses and launch the Appalachian Venture Foundry to prepare businesses for investments, in Kentucky, Mississippi, Ohio, Pennsylvania, Tennessee and West Virginia.
AIA is also working with The Biz Foundry in Cookeville on a similar fund named the Upper Cumberland Investment Alliance that was established several years ago.
“We leaned into the understanding of our role in workforce development,” Guinn says, and that effort was accelerated when Sync Space received a $546,711.20 from the Tennessee Department of Economic and Community Development to serve parts of Unicoi, Carter, Claiborne, Greene, Grainger, Hamblen, and Hancock Counties.
“We really hit a good stride when the region joined the vision,” he adds.
Finally, Sync Space has hired a Grants Manager and will be hiring a Regionwide Community Manager.
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