Fieldbook venture studio launches in Arkansas to create technology startups that catalyze growth and innovation

Fieldbook venture studio launches in Arkansas to create technology startups that catalyze growth and innovation

Published: 09-05-2024 09:58:00 | By: Pie Kamau | hits: 1349 | Tags:

VentureWell and Cartwheel Studio have partnered with venture builder High Alpha Innovation to launch Fieldbook Studio (Fieldbook), a pioneering $10 million venture studio based in Bentonville dedicated to revolutionizing the entrepreneurial landscape in Arkansas and beyond.

Fieldbook, a studio operated by High Alpha Innovation, plans to launch five new startups over the next three years. These efforts will support long-term job creation and foster an environment where startups are not only positioned to succeed but also contribute significantly to the regional economy.

VentureWell, a nonprofit with a 29-year history of promoting innovation and entrepreneurship nationwide, has been awarded a $5.75 million grant from the Walton Family Foundation to establish Fieldbook in Arkansas. The Walton Family Foundation's grant will be matched by an investment from the State Small Business Credit Initiative (SSBCI). With the unique use of SSBCI grants into a venture studio, Arkansas is making a bold investment into the growth of the state.

Phil Weilerstein, President and CEO, VentureWell: "The launch of Fieldbook Studio represents a transformative step for the entrepreneurial landscape in Arkansas. This initiative not only amplifies our commitment to innovation and entrepreneurship but also aligns with our mission to cultivate a vibrant ecosystem where diverse ideas and talents can thrive."

This pioneering venture studio will leverage Arkansas's growing potential within the retail value chain, a sector that includes 80% of the global workforce.

Joshua Stanley, Managing Partner, Fieldbook: "There's a convergence of unmatched expertise, resources, and entrepreneurial support in Arkansas right now, setting the stage for us to maintain our position on the Retail Value Chain throne for decades to come. Fieldbook seeks to capitalize on our inherent strengths, and nurture the next generation of Arkansas businesses poised to evolve and disrupt everything from the way products get created to getting them to their final destination in the hands of eager consumers."

Ultimately, Fieldbook's goal is to operate a proven new company creation model designed to identify and validate new venture opportunities, incubate startup concepts, form viable businesses, and prepare founders to successfully fundraise from private investors while achieving scale.

To position Fieldbook for success, the core Cartwheel Studio team has joined High Alpha Innovation, including co-founder Joshua StanleyKathryn CarlisleMatt CasanovaBri Suitt, and Courtney Ulrich-Smith. The Arkansas-based team joins High Alpha Innovation to utilize its venture building playbook and shared service model, as leveraged by more than 20 startups and four studios across the country, to support the portfolio of startups to be created by Fieldbook.

Elliott Parker, CEO, High Alpha Innovation: "The state of Arkansas has done a great deal to support a growing entrepreneurial ecosystem, and its support of Fieldbook furthers that commitment. The startup community in Arkansas has benefited from the fantastic work of the Cartwheel team. We are thrilled to have Josh, Matt, Kathryn, Bri, and Courtney join our team of venture builders at High Alpha Innovation. Together, through Fieldbook, we will bring a new wave of advantaged startups to life, creating new jobs and opportunities in the state."


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