CHATTANOOGA, Tenn., March 28, 2016 /PRNewswire/ -- Dynamo, a first-of-its-kind accelerator program opens applications to companies in the $1 trillion logistics industry to change the face of supply chain management with entry into its accelerator program, now accepting applications through May 8, 2016.
Based in Chattanooga, TN--the up-and-coming technology hotbed whose Innovation District and economic incentives for startups and tech companies are a model to other cities--Dynamo was conceived to be a disruptive force to drive logistics industry change. Dynamo is being led by logistics veterans Ted Alling, Barry Large and Allan Davis who are current partners in Chattanooga-based venture incubator Lamp Post Group and who started Access America Transport and grew it to a multimillion dollar company in 10 years. Former Techstars managing director Jon Bradford will serve as Dynamo's entrepreneur-in-residence, helping to mentor the young companies.
"Transportation and logistics is a blue-collar industry--still relying on aging technology and infrastructure--that has been overlooked by venture capital for decades, which presents Dynamo with the perfect storm," says Ted Alling, managing director of Dynamo. "More freight passes through Chattanooga, TN, every day than any other metropolitan area in America. As a result, Chattanooga has become a major logistics hub for the eastern United States, with large-scale shippers, carriers, warehousers, barge operators and rail yards in our backyard."
Dynamo is inviting young companies in the logistics space to apply for its unique accelerator program. The goal? Push forward the lagging logistics industry to create efficiencies and faster business results with technologies and practices ranging from the "Internet of things" and robotics to big data, drones and beyond.
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 October 4, 2016. Businesses at the early stages of their development--pre-seed through series A--within the logistics, transportation, and supply chain industries are encouraged to apply.
"Dynamo has put together an amazing crew of mentors and partners from the transportation and logistics industry, including the original founders of Access America Transport, who built a business with over $400 million in revenue and sold it to Coyote," says Dynamo entrepreneur-in-residence Jon Bradford. "With my accelerator experience personally running 10 programs--including, most recently, Techstars London--we have created a world-class accelerator that can truly change the logistics industry for the better."
Sibling to the accelerator program, Dynamo's $12 million early stage fund will evaluate opportunities with logistics businesses that may not fit the criteria for the accelerator but share its mission to enact change within the logistics 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," says Alling.
Dynamo is a logistics, supply chain and transportation accelerator program and early stage fund in Chattanooga, TN. Industry veterans Ted Alling, Barry Large, and Allan Davis, who started Access America Transport and grew it to a multimillion dollar company in under ten years, are leading the Dynamo team and will mentor and accelerate 10 teams via the three-month intensive program for logistics companies that are trying to change the face of the industry. Dynamo welcomes applications from businesses in any stage of development within logistic spectrum through May 8, 2016 and welcomes opportunities to discuss logistics companies that are interested in the fund.
Rachel Hanson, Dynamo firstname.lastname@example.org
Accelerator/Fund General Contact: email@example.com