Scott Sohr is the chairman of Built Technologies, a Nashville, Tennessee-based company that focuses on providing construction lenders with a platform that allows them to borrow funding easily online. In addition to his work with Built Technologies, Scott Sohr is the president of STS Ventures, a company that serves as an incubator for successful startups in areas like fintech, healthcare, renewables, and finance.
A startup incubator is a company that provides a collective physical workplace for multiple startups in the same location. The goal of an incubator is to provide these early-stage companies with the resources they need to fuel growth. A company typically can stay within an incubator’s space until it has grown in scale to a size big enough to merit its own location.
In addition to a physical place to work, startups that work with incubators are also usually mentored by experienced investors and entrepreneurs involved with the organization, and may also secure funding from these investors. New entrepreneurs in these business relationships also may gain access to a wider and more accomplished range of business partners, as more established technology and media companies may feel more comfortable working with a newly-created startup backed by an incubator than with a small firm working to find success on its own.