DREW’S NEWS
Greetings from Chattanooga,
This issue’s news highlights a fundamental contrast in leadership: the difference between a vision that builds and a vision that consumes.
True leadership isn't just about managing assets; it’s about articulating a clear vision, getting your community "on the bus," and communicating with enough grit to navigate through friction rather than running over it, unapologetically. We are seeing the fruit of this "execution as a team" with the City of Chattanooga being honored for their unique housing affordability initiatives. This wasn’t a stroke of luck or a PR play; it was a deliberate, synchronized vision to design a policy that unlocks mixed-income housing without a single dollar of federal subsidy.
However, we are also seeing what happens when leadership lacks that same collaborative spirit. The County’s recent unanimous vote to declare the Business Development Center (BDC) as surplus property—essentially a rob Peter to pay Paul vision—feels like a shortsighted trade. When you prioritize the sale price of the "soil" over the health of the "seeds" planted within it, you aren't leading; you're liquidating. Real progress isn’t found in a real estate transaction, but in the trust built and the opportunities expanded when a community works as a synchronized team.
See you around town,
Drew
🚀 Connections + Congrats
Sensory Bridges Wins $12,500 Grant: A congratulations to Megan Cales, founder of Sensory Bridges, for securing third place in the 2026 Boyd Venture Challenge. This grant from the Anderson Center for Entrepreneurship and Innovation fuels her work on the "Brooks Band," a supportive wearable for neurodivergent individuals.
Nation's First Quantum Pre-Apprenticeship: The Enterprise Center and the Chattanooga Quantum Collaborative have launched the nation’s first Quantum Pre-Apprenticeship program. This 12-week initiative prepares local professionals to lead quantum adoption across logistics, healthcare, and energy sectors.
Let Brickyard Cook: Matt Patterson announced the success of seven different teams at Brickyard who have reached significant revenue and scaling milestones this month ($1M ARR). A wild stat, TBH.
Ridgeline Secures $180M Pool: Memphis-based venture investor Ridgeline has closed an oversubscribed $180 million fund with backing from the U.S. Office of Strategic Capital, specifically targeting technologies that modernize American industry. Why I’m highlighting Ridgeline: Their fund isn't just about Memphis; it is a regional engine designed to fuel the exact sectors where Chattanooga leads: Logistics, Manufacturing, and Quantum Computing.
Chattanooga Lab Tackles U.S. Metal Dilemma: Kunin Technologies, a local laboratory, has received federal support to address critical national metal supply chain issues, directly aligning with new administration efforts to strengthen domestic manufacturing through targeted tariffs and industrial support.
The Bend’s $300M Anchor: The new Sunset Amphitheater is officially the catalyst for the 120-acre redevelopment at The Bend, projected to bring world-class entertainment and a massive $4.2 billion economic footprint to the West End. Music, arts, entertainment and sports can individually (and collectively) be a multiplier for economic and the “it” factor, which will directly impact innovation and jobs. An exciting project for all of us.
A recent New York Times report highlighted the city of Chattanooga as an innovator in affordable housing. This "Social ROI" model proves that long-term community health and tenant retention can be a more resilient financial strategy than aggressive market-rate flipping. By aligning private capital with public-sector policy, these partnerships demonstrate how synchronized leadership can protect a city’s "soil" while still delivering sustainable economic growth.
The BDC Vote: And in direct contrast, the Hamilton County Commission has unanimously voted to surplus the Business Development Center (BDC). While relocation discussions continue, county officials estimate tenants will have until at least May 2027 to transition operations. A disappointing and short sided development, particularly for the early-stage entrepreneurs who occupy the center with subsidized rent.
🗓️ Upcoming Events
Chattanooga Founders Forum: (May 14th, 11:30 AM), Society of Work, Somer Station. Dan Wycoff of Branch Technology (LINK)
Rethinking Capital Event (May 26, 12 - 1pm), INCubator. A specialized workshop focused on founder strategy and navigating the current capital landscape will be hosted at the INCubator.
Have an event? Reply to this email.
Introducing an acquisition newsletter for the serious buyer
I’ve started a separate weekly acquisition brief called Letter of Intent, a highly-curated brief at regional and remote cash-flowing SMBs for serious buyers.
TVFCU Idea Leap Loans and Grants - Applications open again in July 2026 - TVFCU's Idea Leap initiative is distributing $225,000 in grants of up to $30,000 each to qualified small businesses. Eligibility requirements include: 2-25 employees (owner included), maximum annual revenue of $2.5 million, at least 12 months of operational history with proven revenue generation, and location within TVFCU's 17-county service area.
InvestTN Regional Seed Fund - This is a $28M Tennessee-focused initiative investing in startups served by 7 Regional Entrepreneur Centers across all 95 counties. Investments range from $25,000 to $250,000.
Small Business Innovation Research Program - Transform your innovations into market-ready solutions with the SBIR Program. This strategic federal funding initiative empowers small businesses to commercialize cutting-edge research and technology. Whether you're developing next-generation solutions or pioneering scientific breakthroughs, SBIR provides the capital and resources to accelerate your journey from concept to commercialization.
📈 What I’m Reading
The Ted Turner Effect: One of my favorite books is Call Me Ted, an inspirational roadmap for anyone who believes that a bold vision—and the sheer grit to see it through—can change the world. It chronicles Turner’s transformation from a risk-taking media outsider to a global mogul, proving that the biggest rewards often go to those willing to bet on an "impossible" idea like a 24-hour news cycle or a world-class athlete. (It also has an entire chapter devoted to Chattanooga and McCallie, a school he credited with his success.)
Footnotes
My mission is to cultivate the startup community through connection. I'm a big believer in building this newsletter in public, so if you have ideas on how to further this ecosystem initiative, reply back to this email and let's work on this together.
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I'm also building a curated database of businesses for sale. Trying to slog through the noise has been tricky. If you know of a business owner who might be thinking of an exit, let me know. I have a database of pre-vetted buyers ready to buy and scale local businesses.