Silicon Valley publication Pandodaily highlighted Chattanooga’s Gig Tank this week.
Local leaders formed the Gig Tank competition to inspire next-generation Internet apps and businesses and to challenge young entrepreneurs to find innovative ways to use the city’s high-speed, 1-gig-per-second Internet.
Last year, they got about 150 applications from students and entrepreneurs who wanted to participate in the 100-day business accelerator and mentorship program.
Writer for Pandodaily Hamish McKenzie wrote about last year’s winner, Banyan-whose creators moved from Florida to Chattanooga in January-and interviewed CO.LAB founder Sheldon Grizzle.
Banyan creators won the biggest prize of $100,000 for their cloud-based control system for collaborative research. The product aims to make it easier for researchers at universities nationwide to share information.
The creators of Banyan also recently launched a side project, called Nooga Startups, that highlights and links to new, local businesses.
But McKenzie also references an article that says joining an accelerator program isn’t a good idea.
And though most of the attention for the Gig Tank has been positive, there have been some questions about the practical costs of the gig.