Is Memphis a Good Place to Launch a Startup?

Where you start your company still matters – but sticking too closely to one location might limit what you’re able to build. In today’s startup landscape, geography shapes your path – but it doesn’t have to define your potential.

Memphis has emerged as a strong hub for entrepreneurship, offering access to funding, talent, and infrastructure. But with growing competition, rigid local programmes, and support often reserved for the most polished startups, relying solely on what’s nearby can slow you down – or hold you back.

In this article, we’ll explore what Memphis gets right – and where founders often run into friction. We’ll also show how EWOR offers an alternative: a global, remote-first platform that gives you access to funding, mentorship, and community – no matter where you’re based.

1. Access to Funding in Memphis

Funding is one of the most critical ingredients in building a successful startup – and Memphis offers a growing ecosystem of support. From venture capital firms to government grants and angel investors, founders in this region have several pathways to raise capital and gain early traction.

Memphis's early-stage funding landscape is supported by local players like Innova Memphis, a key early-stage investor focusing on healthcare, technology, and AgTech. Epicenter also plays a significant role, managing funds like the Formation Fund and Co-Investment Fund, and partnering with the City of Memphis on initiatives like the Memphis Small Business Opportunity Loan Fund aimed at minority and women-owned businesses. Accelerators such as Start Co. (including Seed Hatchery and Upstart) and ZeroTo510 are crucial in providing initial capital and mentorship. Despite these resources, challenges exist, including a recognized gap in Series A funding needed for companies ready to scale beyond seed stage. While Memphis has shown strength in directing early-stage capital to Black founders compared to the national average, access to capital remains a hurdle for some entrepreneurs. Reports on the broader Southeast indicate a recalibration in venture capital, with investors favoring follow-on rounds and larger average seed deals, though overall capital deployed has seen some fluctuation.

A More Flexible Path Forward

In the wake of these challenges, founders don’t have to rely solely on local funding options. EWOR offers a more flexible path – providing up to €500,000 in early-stage capital But EWOR is more than a cheque. Our capital comes bundled with personalised support, investor-ready storytelling, and access to a network of over 400 active European investors – many of whom regularly participate in our Grand Pitch events. On average, EWOR fellows who complete the programme and pitch go on to raise €2 million in follow-on funding – over 10x more than founders from comparable European initiatives.

2. Innovation and Startup Culture  

Memphis has become a centre of innovation, with numerous tech hubs, coworking spaces, and accelerators that foster creativity and new ideas. The local startup culture is vibrant, with a growing community of entrepreneurs working together to push the boundaries of what’s possible.

Memphis has a developing startup and innovation culture characterized by a collaborative ecosystem. The city offers numerous coworking spaces, providing flexible workspaces and networking opportunities. Tech events and meetups are also present, fostering connections and knowledge sharing among entrepreneurs and tech professionals. Entrepreneurial activity is growing, with a focus on key industries like healthcare, logistics, and technology. Early-stage founders can receive personalized support through various programs, mentorship networks, and accelerators like Epicenter, CO.STARTERS, and ZeroTo510, which offer tailored guidance and resources rather than solely relying on competitive, standardized programs or favoring only mature startups. The ecosystem emphasizes mentorship and hands-on assistance for startups at different stages.

For many entrepreneurs, the energy and resources available in Memphis can provide the ideal environment to test new ideas and gain early traction. The collaborative atmosphere allows founders to connect with fellow innovators and build networks that can help their startups grow.

While the local startup culture is vibrant, the support founders actually receive can be hit or miss. VCs might offer funding but little time. Angel investors often give advice, but it’s scattered and inconsistent. What’s more, many accelerators rely on a one-size-fits-all model that doesn’t reflect the needs of exceptional founders. In fast-moving, competitive ecosystems like Memphis, standing out is hard enough – getting the right kind of support shouldn’t be.

The Alternative to Cookie-Cutter Programmes

Finding a programme that truly adapts to your journey, not the other way around, is rare. However, EWOR offers the kind of depth and flexibility that many local programmes simply can’t match. Instead of following a fixed curriculum, our fellowships are modular and tailored – giving you the right support at the right time, based on where you are in your journey.

But the real strength of EWOR goes beyond structure. Fellows often describe the community as the most unexpected – and valuable – part of the experience. As some have put it: “The real magic lies in the community: the kind of conversations, insights, and connections that lead not only to breakthroughs – but to lasting friendships with some of the most fascinating people they’ve ever met”.

3. Talent and Workforce Availability

One of the greatest assets of launching a startup in Memphis is access to a skilled and diverse talent pool. With universities producing top-tier graduates in technology, business, and other fields, startups can tap into a wealth of expertise to help grow their teams.

Memphis offers a growing talent pool for startups, supported by various educational institutions like the University of Memphis and technical colleges. These provide graduates and training in relevant fields such as technology, advanced manufacturing, and logistics. The city's workforce possesses industry-specific skills in areas like software development, data analytics, and transportation. Local talent contributes to entrepreneurial growth through a collaborative ecosystem, mentorship, and programs fostering innovation and providing skilled individuals for new ventures.

Like funding, competition for talent can be fierce, especially for highly specialised roles in fields like software development or AI. For startups looking to scale quickly, hiring the right people at the right time can be a challenge, leading some founders to look outside the region for remote talent solutions.

Get Global While Local

While hiring locally in Memphis can be competitive and slow, EWOR gives you instant access to a global network of exceptional talent. Built by founders for founders, the EWOR team has launched and exited companies worth over €12 billion – and they bring that experience directly into your venture. It's not just about funding or surface-level advice; it's akin to having a co-founder from day one. 

The team collaborates closely with you to refine your idea, challenge your thinking, and support you through real-world decisions – just like a hands-on partner would. Moreover, with EWOR’s exclusive co-founder pool, you can find the right person to build with, regardless of their location.

4. Infrastructure and Support Systems

Memphis boasts a strong infrastructure that supports the growth of new businesses. From modern office spaces to high-speed internet, entrepreneurs have access to everything they need to run their startups smoothly. Government policies may also provide tax breaks, legal support, and other incentives that make starting a business more attractive in this region.

Memphis offers a robust ecosystem for startups with various support systems. Key resources include incubators and accelerators like Start Co., Epicenter Memphis, AgLaunch, and ZeroTo510, providing mentorship, resources, and networking opportunities. Organizations such as the Tennessee Small Business Development Center (TSBDC) and SCORE Memphis offer free business counseling and workshops. Funding sources range from angel investors and venture capital firms like Innova Memphis to specific funds like the University of Tennessee Research Foundation's Accelerate Fund and the Formation Fund. Government initiatives also play a role. The City of Memphis has an Entrepreneurs Network Center offering training and financing programs. State-level programs like LaunchTN contribute through increased access to capital and grants. The State Small Business Credit Initiative (SSBCI) provides loans and investments. These combined efforts help Memphis startups thrive.

But what looks good on paper often proves more complicated in practice. Bureaucracy can be time-consuming and opaque, especially for first-time founders unfamiliar with local laws. Incorporation takes longer than expected. Accessing public funding often means navigating slow processes, strict requirements, or hard-to-reach advisors. And operational costs – from accounting to regulatory compliance – can quickly eat into early budgets. 

A System That Moves With You

With access to expert guidance, practical legal resources, and a network of experienced entrepreneurs who’ve built across a range of regulatory systems, EWOR is well positioned to help founders navigate the bureaucratic and legal complexities that often come with building in Memphis. Instead of wasting time figuring things out alone, you’ll have the tools and support to stay focused on what matters most – growing your venture.

And while we’re remote-first, our support is anything but distant. Through in-person gatherings like the EWOR House, city-based meetups, and our twice-yearly Grand Pitch event, you’ll still build meaningful relationships with investors, peers, and mentors. It’s a system that helps you focus on building – not just dealing with paperwork.

Can Memphis Be Considered the Best Place to Launch a Startup?

There’s no doubt that Memphis provides a vibrant environment for startups, with access to funding, innovation, talent, and infrastructure that can help entrepreneurs build successful businesses. For many, it’s a strong contender for the best place to launch a startup, thanks to its growing entrepreneurial ecosystem and support systems.

While Memphis is highlighted as having a lower cost of living and a supportive ecosystem, entrepreneurs may still face challenges. Competition exists, particularly within key industries like logistics and healthcare. While the cost of living is lower than the national average, securing sufficient capital remains a challenge for some, especially for community-based and minority-owned businesses who may face difficulties accessing favorable lending terms. Regulatory hurdles, while not explicitly detailed as a major barrier in all searches, are a general challenge for businesses in any city, and navigating local permitting and compliance can require effort.

However, it’s important to remember that the location of a startup is no longer the be-all and end-all. In today’s digital age, location-independent options like EWOR allow entrepreneurs to access world-class mentorship, funding, and resources from anywhere in the world. Whether you’re based in Memphis or elsewhere, EWOR’s remote programmes are designed to support founders no matter where they are located.

So, while Memphis offers significant advantages, it’s worth considering options like EWOR that enable you to launch and scale your startup with global support – whether you’re in the heart of a bustling startup hub or working from a quiet corner of the world.

Image credits: by Andreas Brücker on Unsplash