At this year’s gathering in West Knoxville, 865 Fest makes a simple case: entrepreneurship and innovation are economic development. Hundreds of entrepreneurs, investors, students and community leaders filled Bridgewater Place on Tuesday for the Innov865 Alliance event, Teknovation.biz reports.
Attendees also left with a challenge. Skip the usual small talk about what you do and ask a better question: What are you building? Co-emcees Chris McAdoo and Teknovation Managing Editor Katelyn Biefeldt set that tone early in the day.
How 865 Fest Makes the Case for Local Builders
Knoxville Mayor Indya Kincannon picked up the theme in her welcome. “We want to build Knoxville into being the most founder-friendly city in America,” she said. She added that people at a recent international climate conference in New York City “were amazed and impressed at what we are doing in the area.”
Kincannon moved to Knoxville from Arizona 25 years ago, when her husband took a job at the University of Tennessee. She drew laughs by calling herself “the trailing spouse who ended up being mayor.” She urged attendees to use the region’s connected ecosystem and to network at the event.
Newly elected Knox County Mayor Betsy Henderson, the featured speaker, said big things do not have to be attracted from out of state. They can also be built here. Henderson announced a new business liaison position in the mayor’s office to help businesses with growth and government processes.
“Government’s role is really about getting out of the way, streamlining those processes, getting past those barriers, making sure that we’re cutting red tape and making it easier for businesses to not only come here but thrive here,” Henderson said.
Quantum Ambitions and Their Gaps
A “Quantum Momentum” panel, presented by Three Roots Capital, was moderated by its founder and CEO, Grady Vanderhoofven. With the launch of the Knoxville Quantum Accelerator, or K-Quantum, panelists argued the region is positioned to become a national quantum leader.
Shaun Gleason of Oak Ridge National Laboratory said ORNL now has about 160 scientists working across quantum computing, networking, sensing and materials. Panelists also named the gaps: specialized facilities, workforce development and long-term funding.
Founders Who Changed Course
Innovation at the event was not limited to hard tech. Former news anchors Abby Ham and Heather Waliga shared how they left broadcast journalism to launch We Know People Media. They describe it as a personality-driven marketing firm they built during commercial breaks.
“At the heart of it, we loved connecting with people, and we loved to tell stories. We still get to do that,” Waliga said. The agency is eyeing expansion into additional metro areas.
A Visit Knoxville panel moderated by Kim Bumpas covered the realities of restaurant entrepreneurship. Joseph Lenn of J.C. Holdway, Laurence Faber of Potchke and Trevor Stockton of RT Lodge took part as Knoxville’s dining scene earns national and Michelin-recommended attention.
What Investors Look For
In a “Real Talk” session, two investors explained what they look for and what kills deals. Maha Krishnamurthy represented the UT Research Foundation’s UT Ventures angel network. Marty Brown represented PYA and Market Square Ventures.
Both said founders must show grit, trustworthiness and optimism balanced with realism. Their advice for getting noticed was direct: do not send unsolicited pitch decks. Build relationships, show up at events like 865 Fest and make sure investors know to look for you.
UT Ventures requires “UT System DNA” in a company’s leadership or intellectual property tied to the university. Because backing startups carries much higher risk, investors expect a higher return, typically through an acquisition or IPO. They described getting into investing as “philanthropy with an upside.”
Alumni Show Where a Pitch Can Lead
The day closed with 865 Fest and Startup Day alumni, moderated by Tom Rogers of Innovation Crossroads and the Spark Innovation Center. Anna Douglas discussed SkyNano’s acquisition and the importance of community support during federal funding setbacks.
John Sorochan described moving from academic research to developing a global FIFA-standard turf testing technology. Hicham Ghossein’s Endeavor Composites won Axle Logistics’ Traction Award, a few days after moving into a new 22,000-square-foot advanced manufacturing facility.
Grit Daily has covered how young entrepreneurs secure growth through regional networks, and how student entrepreneurship competitions create new companies. It has also reported on a big private bet on a startup.
Looking ahead, alumni predicted more collaboration, more student founders and deeper corporate involvement in Knoxville’s startup scene over the next five years. That is the case 865 Fest makes: many of the region’s next companies can be built at home.
