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Fieldbook Studio Launches in Arkansas

Fieldbook Studio

VentureWell, funded by the Walton Family Foundation, the Arkansas Development Finance Authority (ADFA), and Cartwheel Studio (a local Northwest Arkansas studio), have partnered with venture builder High Alpha Innovation to launch Fieldbook Studio, a $10m venture studio based in Bentonville, Arkansas.

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 positioned to succeed and contribute to the regional economy.

VentureWell, a nonprofit with a 29-year history of promoting innovation and entrepreneurship nationwide, has been awarded a $5.75m 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).

The venture studio will leverage Arkansas’s potential within the retail value chain, a sector that includes 80% of the global workforce. The 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 fundraise from private investors while achieving scale.

The core Cartwheel Studio team has joined High Alpha Innovation, including co-founder Joshua Stanley, Kathryn Carlisle, Matt Casanova, Bri 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.

VCWire

08/05/2024