The TennSMART Open Innovation Challenge catalyzes innovation by coupling established businesses with founders  to create solutions for technology and operational gaps. 

 

Many large, established businesses lack the operational capacity and personnel to keep up with innovation demands. In the current era of AI and robotics, the need for cutting-edge manufacturing and sustainable technologies to efficiently operate and supply demand is critical to a company’s success, regardless of their footprint in a given market.

 

The TennSMART program starts with a company willing to express a technology gap in their operational capacity or product offering. That gap then is presented to an engaged team of founders

​

Over the course of four weeks, the founder “think tank” will work to create a viable and marketable technology solution concept to respond to the innovation need(s) expressed by the participating company. Presentations will be pitched at the end of the four weeks for consideration by the company’s representative and a group of investors. 

 

Program Outcome Goal:

1. Create startup opportunities from partnerships with high-tech founders and companies in need of innovative solutions.

2. Promote startup concept-to-scale deal flow through the LaunchTN entrepreneurship and commercialization system.

3. Bridge the gap in innovation for large scale established businesses in Tennessee.

4. Engage investment in collaborative programs for entrepreneurs.

​

The inaugural TennSMART Open Innovation Challenge event will be held in the summer of 2023.