Chattanooga’sDynamohas partnered withGE Ventures for its upcoming logistics accelerator.
“GE Ventures is providing a suite of resources that leverages the entire GE platform,”Dynamo DirectorSantosh Sankar said via email. “The partnership includes a financial component but, more importantly, includes mentorship for our teams that will draw from experience across the various GE business units.”
“Supply chain and logistics are areas ripe for disruption.
“GE Ventures is excited to partner with Dynamo, an accelerator that is well-positioned to attract the best entrepreneurs with the most innovative ideas.”
-Source: Lisa Coca, managing director of advanced manufacturing and enterprise practice at GE Ventures
Dynamo launched in March with leaders callingfor 10 companies to help disrupt the industry.
GE Ventures, which is the venture capital arm of General Electric, partners and invests in ideas around the world in an effort to advance industries, officials said in this Medium post.
Dynamo and GE Ventures have corresponding values, so the partnership is a good fit.Both are committed to advancing the logistics, transportation and supply chain industries, which requires more than capital,Sankar said.
“GE is a prolific user of the supply chain and could prove to be a valuable testing ground for teams,”he said.
Logistics veterans Ted Alling, Barry Large and Allan Davis-who are partners in venture incubator Lamp Post Group and who founded, grew and soldAccess America Transportin a multimillion-dollar deal-are leading the newaccelerator.
Former Techstars Managing DirectorJon Bradfordwill serve as Dynamo’s entrepreneur-in-residence, helping mentor the young companies.
Dynamo’s 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.
Company applicants selected to participate in Dynamo will need to have at least one founder based inChattanoogaduring the business week throughout the three-month program, which runs fromJuly 6 to Oct. 4.
“The accelerator is attracting some of the strongest founders in the space, and they’re coming to build their business … by tapping into the resources Dynamo offers and of which GE is a big part,”Sankar said.
Disclaimer:Nooga.com‘s parent company is Lamp Post Group, but editorial decisions for this publication are made independently of Lamp Post Group.