For Gary Pratt, the idea behind UT Ventures grew from his longstanding interest in entrepreneurship and his desire to see more University of Tennessee (UT) innovations make their way into the marketplace.
“I’ve always been an entrepreneur,” Pratt said. “I wanted to see UT have a stronger entrepreneurship program.” He saw an opportunity to build on UT’s existing entrepreneurial efforts by creating another avenue to support promising companies connected to the University, helping bring the idea for a venture network to life.
As an investor, Pratt is drawn to opportunities where he can take a focused approach and understand what he is investing in. UT Ventures gives him that opportunity while allowing him to support companies with ties to the University.
“UT Ventures provides exactly what I’m looking for,” he said. “We’re also helping companies that are related to the University of Tennessee get off the ground and gain momentum.”
For Pratt, that connection to UT is just as important as the potential financial return. “It’s a way for me to repay and give back to the University and be aligned with its mission,” he said.
His approach to investing is shaped by his experience as an entrepreneur, including the lessons he has learned from both successes and failures. One principle has remained consistent: “Hire people smarter than you in what they do. Listen to them and take their advice.”
Pratt also values the relationships he has built with fellow UT Ventures members, enjoying the opportunity to connect with like-minded investors who share his entrepreneurial spirit and ambitions. “I often come out of these calls with a big grin,” he said. “I just really enjoy it.”