U.S. Rep. Chuck Fleischmann visited Tech 20/20 to congratulate the Oak Ridge venture development organization for its global ranking in managing new business incubators.
Sweden’s University Business Incubator (UBI) Index listed Tech 20/20 the fourth-best in the U.S. and in the top six worldwide in managing business incubators for value contributed to their clients and community, and overall performance.
During the visit, the congressman, who represents Tennessee’s Third District, was briefed by Tech 20/20 Chief Executive Officer John Morris, Board Chair David Bradshaw, and Chair-Elect Tom Rogers about the entrepreneurial support and venture development work the organization performs throughout the region.
Since its founding in 1995, Tech 20/20 has assisted more than 214 companies, creating almost 2,000 jobs with an average annual salary of $65,000, having a total payroll impact of more than $128 million, and generating $260 million in the region’s economy, a press release said. Thirty-five companies are members of Tech 20/20’s Million Dollar Club by reaching at least one of the milestones of $1 million in capital raised, annual revenues, or sales price.