Hatch Innovation HubCreating and scaling high growth businesses in WNC
The Hatch Innovation Hub is Asheville and Western North Carolina’s non-profit resource for innovation, serving the needs of ALL entrepreneurs seeking to build high growth businesses. The Hub will represent the best of the region’s entrepreneur support organizations, such as the Hatch AVL Foundation, Venture Asheville and Mountain Bizworks. We enable founders to support founders, in the trenches, every day. No more going it alone or figuring out where to go for support!
Who Is Hatch For
What We Do
Hub members will get the benefits of “founders supporting founders” from informal contact in the halls of Hatch headquarters, and through our Slack channel. Members will also get access to our team of expert mentors and our partner service providers.
In addition to the 3Ps, we are building a capital marketplace to address the current issue that founders struggle to find investors, and investors struggle to find deal flow. The capital marketplace will become a “one stop shop” to facilitate these introductions.
The Hub offers world class programs and education to support founders as they move from idea, to business plan, to test market and finally to scale.
Why We Do It
Creating a new business is tough, especially early on when there is no or little revenue, when it’s tough for a founder to attract talent, mentors and investors. At the Hatch Innovation Hub, we understand the power of “paying it forward” to fledgling companies by providing world class education, mentorship and networking to founders through a non-profit foundation, rather than founders relying on for-profit venture groups or incubators. All this increases the odds of success for young and growing businesses.
Founders need this support, and our community needs founders, as the startups and small businesses founders create are the only reliable means of new job creation. This is even more critical as our region recovers from the economic impact of COVID.
By supporting the establishment and scaling of high growth potential* startups, we expect to produce the following outcomes within 5 years:
Well Paying Jobs
in Combined Annual Revenue to the Regional Economy
of Capital Investments in Startups
* Note that we define a high growth potential startup as one where the founder has the ambition to create a company with revenue of at least $1 Million and employing at least 10 employees.
Since inception in 2016, the Venture Asheville and Hatch AVL Foundation mentorship programs have facilitated over $82M in revenue, 276 net new jobs with an average salary of $61K (the county average is $41K), and $25.5M in capital investment.
Hatch could not provide its support to entrepreneurs here in WNC without the support of our partners. Many thanks to our partners and sponsors.