“We had to make some hard decisions,” Dynamo Director Santosh Sankar said.
The 10 teams include founders from London, Dublin, Ireland and Monterrey, Mexico as well as domestic teams from San Francisco, Des Moines, Boston, Atlanta and Chattanooga.
“We look forward to these next several months where we, along with the broader Dynamo family, will be focused on driving the fundamentals of each business,” Sankar said.
Dynamo was founded in March by logistics industry veterans Ted Alling, Barry Large and Allan Davis, who had previously started Access America Transport, which they sold to freight broker Coyote Logistics Inc. in 2014.
The aim of the incubator is to foster growth of logistics technology companies by providing them with business guidance and practical industry expertise to mold their technology ideas. The logistics industry is currently a hot commodity among venture capital and private equity groups looking to fund tech startups.
The head of a technology provider American Shipper recently spoke with said Silicon Valley venture capital firms are looking for a few characteristics from startups: a massive market, a unique and buzz-worthy idea, traction against the company and a great team.
The 10 startups will work from Chattanooga for the three-month accelerator, culminating in a demo day Oct. 4.