Collaboration

Compiled by the Economic Development Board, the following information pertains to collaborative partners in the Knoxville MSA.

University of Tennessee
The University of Tennessee's flagship campus in Knoxville is home to a wide array of vigorous programs doing research on issues vital to the community, the state, the nation, and the world. The university has collaborative relationships with public and private agencies including Oak Ridge National Laboratory, Battelle Memorial Institute (forming UT-Battelle), St. Jude Children's Research Hospital, the Memphis Bioworks Foundation, and the Boston-Baskin Cancer group (forming UT Cancer Institute). Office of Research includes: Centers of Excellence, Compliance, COEUS Database, Export Control, Graduate Fellowships & Assistantships, Knoxville Office of Research, Limited Submissions, Undergraduate Research, Undergraduate Internship, UT Research Foundation.

East Tennessee State University
More than 1,300 doctors have graduated from East Tennessee State University’s Quillen College of Medicine. Graduates of the medical school and its residency programs can be found in 48 states. Ranked third in the nation for excellence in rural medicine education by U.S. News & World Report in its "America's Best Graduate Schools" 2007 edition. For several consecutive years, ETSU has been ranked among the top 10 schools in the country for rural medicine. U.S. News also ranked ETSU in the top 25% of medical schools for primary care education.

Tennessee Air National Guard
McGhee Tyson is the home of the 134th Air Refueling Wing, 228th Combat Communications Squadron, 572nd AF Band and the I.G. Brown Training and Education Center. In 1952, McGhee Tyson was established as an Air Force Base to protect East Tennessee industry: Alcoa, Oak Ridge and TVA dams. In 1957 by direction of the National Guard Bureau, McGhee Tyson became part of the Air National Guard.

Oak Ridge National Laboratory
The Oak Ridge National Laboratory (ORNL) is a multiprogram science and technology laboratory managed for the U.S. Department of Energy by UT-Battelle, LLC. Scientists and engineers at ORNL conduct basic and applied research and development to create scientific knowledge and technological solutions that strengthen the nation's leadership in key areas of science; increase the availability of clean, abundant energy; restore and protect the environment; and contribute to national security. ORNL also performs other work for the Department of Energy, including isotope production, information management, and technical program management, and provides research and technical assistance to other organizations. The laboratory is a program of DOE's Oak Ridge Field Office.

Tennessee Valley Authority Industry Resources
The Tennessee Valley Authority (TVA) provides support, technology, expertise, and financial resources to existing businesses and industries in the Valley to help them grow and be more efficient and profitable. These resources include technical assistance, low-interest loans, and other tools needed by businesses for successful operation.

Southern Appalachian Fund
The Southern Appalachian Fund (SAF) is a $12.5M venture capital fund formed to provide equity capital and operational assistance to qualifying businesses in southern Appalachia. The Fund focuses specifically on companies in Kentucky, Tennessee, and the Appalachian counties of Georgia, Alabama, and Mississippi.

The Southern Appalachian Fund is one of six New Markets Venture Capital (NMVC) Companies in the United States. The NMVC Program is a developmental venture capital program designed to promote economic development and the creation of wealth and job opportunities in low-income geographic areas and among individuals living in such areas. To learn more about the New Markets Venture Capital program, go to www.sba.gov/INV/venture.html. The Fund's investors include a number of institutional investors and the United States Small Business Administration (SBA).

The Fund's mission is to generate market-rate returns for its investors while promoting shared and sustainable economic development throughout its target region. The Fund will invest $200,000 - $600,000 in companies with strong management teams, high growth potential, and defensible market positions. The Fund Managers also work to add value to the Fund's portfolio companies through operational assistance, active board participation, and mentoring.

Southeast Community Capital
Southeast Community Capital (SCC), a Community Development Financial Institution (CDFI), as certified by the CDFI Fund, a division of the U.S. Treasury Department, provides loans to disadvantaged small businesses lacking access to traditional financing options in low-income areas throughout Tennessee.

In the seven years since its inception in 1999, SCC has grown to more than $12 million in assets. SCC has made 271 loans to 205 companies totaling $19,187,129. These loans have facilitated the creation of more than 786 new full-time jobs with average wages of $15.20 per hour. Additionally, SCC client companies have maintained or retained more than 2,593 jobs.

With an average loan size of $71,326 and average loan outstanding of $63,447 SCC is accomplishing its goal of making credit available to the smallest most disadvantaged businesses. SCC has been able to create one job for every $24,411 of originated loans and one job created or maintained/retained for every $7,870 of originated principal compared to HUD requirements of one job per $30,000 originated.

Battelle Ventures
Battelle Ventures, L.P., is a $150 million independent venture fund that invests in technology companies at many early stages of development, from companies looking for seed or start-up capital through pre-revenue and post-revenue companies raising later rounds of financing.

The fund, which is based in Princeton, N.J., is actively seeking to invest in technology companies within the following three key areas: Life Sciences, Information Technology, Homeland Security, Energy and Advanced Materials and Nanotechnology. In August 2005, Innovation Valley Partners, a $35 million affiliate fund of Battelle Ventures, was launched by a group of Knoxville business leaders.

Battelle Ventures enhances and adds value to its portfolio companies by leveraging the technologies and expertise of Battelle Memorial Institute and the National Laboratories it manages or co-manages for the U.S. Department of Energy.

Innovation Valley Partners
Innovation Valley Partners is the $35 million affiliate fund of Battelle Ventures, L.P., a $150 million independent fund that invests in early-stage companies nationwide. Backed by business leaders in Knoxville, Tenn., Innovation Valley Partners participates alongside Battelle Ventures, focusing on companies in the areas of life sciences, information technology, homeland security, energy and advanced materials/nanotechnology.