LaunchTN (Launch Tennessee) is a public-private partnership and nonprofit startup ecosystem builder based in Tennessee, USA that helps founders with capital access, commercialization support, and strategic connections across the state’s entrepreneurial landscape. It is not a typical accelerators that mandates a fixed equity deal for all participants, and much of its direct investment happens through specific equity capital programs it administers.

Pre-Seed / Seed: Through LaunchTN’s InvestTN equity fund infrastructure, early-stage companies (pre-seed and seed) can receive capital.
Series A / Series B: The Growth Fund under InvestTN also supports later rounds for scaling companies.

Typical Investment Size: Equity investments through InvestTN range from $25,000 up to $3,000,000 depending on stage and fund type (Regional Seed Fund: ~$25K–$250K; Growth Fund: ~$250K–$3M).
Equity Taken:
• LaunchTN does not publicize a fixed equity percentage it always takes from companies — its equity positions are negotiated per investment as part of the InvestTN application and diligence process (standard practice for institutional or government-linked investment vehicles).
• Because InvestTN is a public equity investor funded via the State Small Business Credit Initiative (SSBCI), terms (including valuation and equity share) are determined in negotiation with the startup and approved by the investment committee.
• Industry context: Public-sector equity funds like this typically take minority positions that align with private market norms (e.g., early institutional minority ownership), though the exact % ownership varies by deal structure, valuation, and round size. (This reflects general VC/angel norms where specific targets aren’t published.)

Equity Structure: Investments are usually priced equity with preferred terms (or similar instruments) administered through InvestTN; governance and investor rights are negotiated per company.

Submission Method: Founders start by submitting an intake form via InvestTN (the main LaunchTN equity program); LaunchTN’s team then routes companies into the appropriate fund track and may require engagement with a regional entrepreneur center.
Regional Entrepreneur Centers: To qualify for the Regional Seed Fund, startups typically work with a designated entrepreneur center; LaunchTN helps make those connections.

Sector Focus: Broad — scalable technology and innovation across industries with potential for outsized economic impact.
 Geography: Must be Tennessee-located (registered and operating in the state under defined criteria).
Stage: Pre-seed, seed, Series A/B depending on fund track (Regional Seed Fund for earlier; Growth Fund for later). 
Company Profile: Scalable business model, growth potential, and a clear path to venture-style capital returns. 

Initial Intake: Submit an intake application for review.
 Routing & Engagement: LaunchTN matches companies to the appropriate fund track.
 Investment Committee Review: After diligence, the InvestTN Investment Committee votes on funding decisions.
Term Negotiation: If selected, LaunchTN negotiates valuation and investment terms with founders and potential co-investors.

Strategic Capital: Direct equity investment via InvestTN ($25K–$3M).
Ecosystem Support: Access to entrepreneur centers, networking events, SBIR/STTR assistance, mentor networks, and statewide programming facilitated by LaunchTN. 
SBIR/STTR Support: Matching funds for federal SBIR/STTR awards (separate from InvestTN). 
Connections & Growth Resources: Visibility within Tennessee’s startup ecosystem and downstream investor introductions.