A new Chattanooga accelerator called Dynamo is calling for 10 companies to help disrupt the logistics industry.
"Dynamo is a first-of-its-kind accelerator program for the $1 trillion logistics industry, inviting early-stage companies poised to change the face of logistics, transportation and supply chain management to enter its summer mentorship program based in Chattanooga," Dynamo Managing Director Ted Alling said via email.
—Dynamo founders have been working on the idea since fall 2015.
—The accelerator's annual budget is $1 million a year. It's funded by Lamp Post Group, as well as corporate partners.
—Click here for more information or to apply.
Logistics veterans Alling, Barry Large and Allan Davis—who are partners in venture incubator Lamp Post Group and who founded, grew and sold Access America Transport in a multimillion-dollar deal—are leading the new accelerator.
Former Techstars Managing Director Jon Bradford will serve as Dynamo's entrepreneur-in-residence, helping mentor the young companies.
The team is inviting young logistics companies to apply for the accelerator program with the goal to push forward the "lagging logistics industry" and create faster, more efficient business results using technologies and practices that range from the Internet of Things, robotics, big data, drones and more, according to a news release.
Company applicants selected to participate in Dynamo will need to have at least one founder based in Chattanooga during the business week throughout the three-month program, which runs from July 6 to Oct. 4.
Businesses at the early stages of their development—preseed through series A—within the logistics, transportation and supply chain industries are encouraged to apply.
Examples of companies Dynamo is interested in include:
- Automated warehouse operations using aerial drone technology
- Telemetrics and software that help predict machinery failure
- Artificial intelligence that can drive 18-wheeler trucks on its own
- Software platforms that are evolving on the traditional address system
- Tools to streamline the manufacturing line
Coinciding with the accelerator is a $12 million early-stage fund that will provide opportunities for logistics businesses that may not fit the criteria for the accelerator but have the same mission to prompt change within the industry.
"The Dynamo accelerator and the fund are managed by separate entities, but will share resources and work together to create the most comprehensive funnel of transportation and logistics companies in the world to make meaningful lead investments in top-performing companies that come through the accelerator," Alling said.
Disclaimer: Nooga.com's parent company is Lamp Post Group, but editorial decisions for this publication are made independently of Lamp Post Group.