The Tennessee Valley may be a long ways from Silicon Valley, but Tennessee is attracting more of the investments in startup businesses that have fueled the growth of California's computer industry and other tech centers around the country.
Launch Tennessee, the state-funded venture capital fund and agency that tries to promote and seed more business startups in the Volunteer State, announced Tuesday that private investment in early stage companies based in Tennessee has surpassed $1 billion in the past four years. The billion-dollar milestone was reached well ahead of the 2017 goal that LaunchTN set when it was formed in 2012.
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