Tracy Thompson may not be a University of Tennessee (UT) alumnus, but after moving to Knoxville from Texas in 1991, he quickly became part of the UT community.
“You cannot live in Knoxville this long and not be a UT fan,” Thompson said.
His connection to the University grew when UT System President Randy Boyd invited him to join the UT Research Foundation (UTRF) board five years ago. Through that role, Thompson met UTRF President and CEO Maha Krishnamurthy and learned about the idea behind UT Ventures.
“When she talked to me about UT Ventures, I loved the idea of evaluating companies,” Thompson said. “And when she talked to me about the goal, which is UT-related people helping UT-related people, I was very interested.”
With a background spanning software, banking, oil and gas, real estate and medical companies, Thompson brings a diverse perspective to UT Ventures. Medical companies remain his particular area of expertise. “My sweet spot would be in that space,” he said. “I think I can add some value.”
But for Thompson, the potential impact of UT Ventures extends beyond financial returns. He hopes the group can help UT-connected entrepreneurs build successful companies, create jobs and keep talented people in Tennessee.
“I feel like UT Ventures could make a really healthy impact in more than one way,” he said. “Hopefully some of these UT-related folks will end up staying in Knoxville.”
Thompson also sees the founding members’ collective expertise as a resource for entrepreneurs, even when an investment does not happen.
“There’s so many smart people in that group that they give really good feedback,” he said. “It can be helpful to the startups whether we invest or not.”
Looking ahead, Thompson hopes the group’s impact will be compounded over time. “If we look back 10 years from now, I hope there’s a lot of startups that are healthy and have created jobs and that UT can ultimately benefit from that.”