Funding accelerates Nebraska startup ecosystem

OMAHA, Neb., May 14, 2018 /PRNewswire/ -- Entrepreneurs focused on building high-growth, software-centric companies in the Midwest have one less barrier in their path to scale.

The Startup Collaborative (TSC), an on-demand startup accelerator and program of the Greater Omaha Chamber, in collaboration with 'Murphy Vision Funds', today announced it would begin making growth capital investments in early stage tech startups.

Initial funding – $300,000, provided by Chris and Betsy Murphy, in partnership with First Westroads Bank – will be matched dollar-for-dollar by Invest Nebraska, a private-public venture development organization that partners with the Nebraska Department of Economic Development. The funding, a total of $600,000, seeks to increase participation in TSC's on-demand fellowship initiative. 

"Our family is honored to celebrate innovation by supporting Nebraska's startup entrepreneurs, and our team at First Westroads Bank is excited to assist these entrepreneurs on their journey to starting a successful business," said Chris Murphy, chairman and CEO, First Westroads Bank.

"We hope our investment in the region will serve as a spark that encourages others to help elevate our community and advance the next wave of creators and trailblazers," said Daniel Murphy, director of marketing, First Westroads Bank.

David G. Brown, president and CEO, Greater Omaha Chamber, echoed Murphy's remarks, "Innovation is at the core of our economy, our community and our businesses. We would like to thank the Murphy Family and Invest Nebraska for helping us enhance our culture of innovation."

Brown explained available funds will be deployed in $25,000 and $50,000 increments to qualifying participants in TSC's fellowship program who have pinpointed product-market fit, developed a prototype, have an in-house team and at least 25 paying customers.

Interested entrepreneurs can earn their way to growth capital by joining the fellowship. Learn more about TSC here: http://startupcollaborative.co/.

About First Westroads Bank
First Westroads Bank, celebrating its 50^th Anniversary, is a locally-owned and managed, financially strong, community bank committed to exceeding customer expectations.

About the Greater Omaha Chamber
The mission of the Greater Omaha Chamber is to champion a thriving business community and prosperous region through visionary leadership and collaboration.

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SOURCE Greater Omaha Chamber