A Founders Guide to Tulsa
The second-largest city in Oklahoma, Tulsa is home to just over 400,000 people.
Originally settled by the Lower Creek Native American tribe, Tulsa soon became a hub on the St. Louis–San Francisco Railway line, which served local ranches. In 1901, oil was discovered in nearby Redfork and thus ushered in an era of tremendous economic growth and good fortune for Tulsa and its citizens. As a result, Tulsa eventually became a hotbed for oilmen looking to strike it rich in the oil business. Tulsa soon became known as the “oil capital of the world.”
While Tulsa thrived in some areas of life, it failed in others. Between May 31 and June 1, 1921, the Tulsa race massacre took place. Racial violence erupted and resulted in the killing of 300 African Americans, destroying 40 square blocks of Tulsa’s Greenwood District neighborhood and leaving nearly 10,000 residents homeless. The Tulsa Race Massacre continues to be a dark moment in both the history of Tulsa and the United States.
Tulsa is a city with a long, and sometimes controversial, history. Yet it is a city that is keen on becoming better for all people. While Tulsa’s economic past is rooted in the success of the oil industry, the city’s future depends on its ability to foster innovation across multiple industries. Tulsa is a city for all builders of all backgrounds. Tulsa can be a center for innovation and a hub for those willing to take a chance and build something great.
The Tech Ecosystem of Tulsa
Tulsa’s tech ecosystem is still relatively nascent as compared to some cities of similar sizes, such as Birmingham, Kansas City and St. Louis. Oklahoma’s tech ecosystem is also much smaller than neighboring states in terms of venture dollars raised, which is something Atento is actively working to change. While the numbers do not show it, the potential is here:
Oklahoma 2010–2019 VC Dollars Raised: $400 million
Kansas 2010–2019 VC Dollars Raised: $1 billion
Missouri 2010–2019 VC Dollars Raised: $2.6 billion
Texas 2010–2019 VC Dollars Raised: $24 billion
While Tulsa is not seeing high numbers in terms of venture dollars raised, the city is home to a variety of energy companies such as Magellan Midstream Partners, Williams Companies, and WPX Energy. Additionally, the University of Tulsa (TU) Cybersecurity program is one of the top cyber programs in the country. The NSA even declared TU a National Security Agency Center of Academic Excellence in Information Assurance and Cyber Defense Education. All of this to say, Tulsa’s tech ecosystem is a blank slate and has the resources, talent, and potential to be a hub for cyber security, energy tech, digital health, finTech, and defense tech.
If you’re a founder, operator, or investor new to Tulsa and want to get a better picture into Tulsa’s tech ecosystem, head to the Tulsa Innovation Labs website and check out their report on how Tulsa can establish its tech niche.
Who can I raise money from?
Incubators/Accelerators
StitchCrew: Based in Oklahoma City and in partnership with the Oklahoma City Thunder, StitchCrew hosts a bi-annual selection of up to ten startups and helps them get in the best possible shape to launch and grow their companies. Startups go through an intensive 12-week program culminating with Demo Day, when founders present their company to a curated audience made up of investors, community stakeholders and business leaders.
Team8: Team8, a top cyber-security incubator out of Israel, and The University of Tulsa, which boasts one of the top cyber-security programs in the world, have collaborated to expand the University’s cyber-security PHD program with the intention of commercializing IP and building local cyber-related companies here in Tulsa.
OK Catalyst: Runs an accelerator dedicated to helping science and technology-focused innovators solve our nation’s greatest challenges by leveraging the Small Business Innovation & Research and Small Business Technology Transfer programs (SBIR/STTR) as a tool to launch and grow small businesses.
Angel Groups
Cowboy Technology Angels: Cowboy Technology Angels is composed of alumni and other friends of Oklahoma State University. They desire to see the wealth of research, innovation and talent developed at the university put to good work by investor-ready entrepreneurs and their young companies. You can apply for investment through their site.
SeedStep Angels: Are a formalized group of Angel Investors, managed by i2E, Inc., created to narrow the capital gap in Oklahoma by making the investment process between early stage companies and member angel investors more efficient. SeedStep Angels is designed to provide investors with increased deal flow, coordinated due diligence and standardized term sheets and company valuations.
Creative Capital
TEDC Creative Capital: Tulsa Economic Development Corporation’s makes direct loans and participates with other financial institutions on small business projects that fall short of conventional lending standards. In today’s economic climate, most small businesses can benefit from TEDC’s menu of loan programs. Special consideration is given to companies that create and retain jobs, to businesses located in special targeted areas, and to entrepreneurs who have traditionally faced barriers to capital access.
Early-Stage Investors
Atento Capital: Atento is a Tulsa-based investment firm focused on returns, quality job creation, and being helpful (besides it’s in our name, Atento means helpful in Spanish). Atento makes early-stage direct investments (Pre-Seed, Seed, and Series A) with a focus on SaaS and Internet businesses with recurring revenue models. Atento also makes fund-of-fund investments in some of the best venture fund managers across the country, which allows us to make connections between the fund managers we back and Atento’s early-stage direct portfolio for potential follow-on investment.
I2E: I2E stands for Innovation to Enterprise and is a nationally-recognized private not-for-profit corporation focused on growing innovative small businesses in Oklahoma and making a positive impact on the state’s economy. Their concept fund provides pre-seed financing and early-stage risk capital to advance scalable startup Oklahoma companies to prove new products and processes.
I2E started and runs the Love’s Cup, a state-wide collegiate business plan competition that simulates the real world process of researching a market, writing a business plan and making a presentation to potential investors.
Cortado Ventures: Based in Oklahoma City, Cortado Ventures is a new $15 million industry agnostic early stage seed fund focused on backing great entrepreneurs right here in Oklahoma. They look for quality teams building truly differentiated products in large markets.
Oklahoma Life Sciences Fund: is an early-stage venture capital fund that focuses on investing in life sciences startups in Oklahoma. Since its inception in 2000, The Oklahoma Life Science Fund has been the single largest driver of private equity capital to Oklahoma
What about the tech talent?
Innovative technology needs innovative talent and Tulsa is working hard to make sure it is preparing a workforce built for the future of work.
University of Tulsa: There is no shortage of cybersecurity talent being produced at the University of Tulsa. TU has been a designated Center of Academic Excellence in Information Assurance and Cyber Defense Education by the federal government since 2000 and was one of the first 14 institutions awarded this distinction. TU also is recognized by the federal government as a Center of Academic Excellence in Information Assurance Research and Cyber Operations.
Holberton School: Holberton offers a fully-aligned software development program to grow the base of Tulsa’s technical talent pool with no upfront cost to the student and a monthly living stipend to help make it affordable.
Where can I work from?
The beautiful community room at 36 Degrees N
36 Degrees N: With two locations in downtown Tulsa, 36 Degrees North is the central gathering point for Tulsa’s startup founders, small business owners, remote workers and innovative community leaders.
Root Coworking: Another perfect co-working space conveniently located in downtown Tulsa. Root is a place for creators, innovators, and founders.
I want to work at a startup in Tulsa. Where do I find jobs?
Atento Capital Portfolio Companies Job Page: The recruiters on our platform services team are constantly updating our portfolio jobs page to find the best talent for our portfolio companies. Apply through our site or feel free to send an email your resume to our Head of Recruiting Megan Thomas, meg@atentocapital.com
Tech Organizations and Networking
Techlahoma: Techlahoma is a professional network of more than 4,000 information technology workers, hobbyists, students, teachers, and future technologists. Volunteers have created 32 free user groups and 4 conferences that train on the latest skills needed to obtain employment and succeed in today’s increasingly tech-focused workforce.
What’s it like to live in Tulsa?
Tulsa is home to a young and vibrant community. It has a little bit of everything, no matter your interests. For those who love art, the Philbrook Museum of Art and the Brady Arts District are must-sees. There is also a dedicated sports community, as Tulsa is home to the Los Angeles’ Dodgers Double A baseball team, the Tulsa Drillers, and FC Tulsa of the USL.
When it comes to grabbing coffee, eating out and having drinks, Tulsa has a second to none culinary, coffee, and nightlife scene. Some of my personal favorites include Sisserou’s, East Village Bohemian Pizza, Hodges Bend, and Doubleshot Coffee.
One of Tulsa’s most notable attractions for everyone? The Gathering Place park. Built at a cost of nearly $465 million, The Gathering Place is the largest public park (66.5 acres with plans to expand to 100 acres) ever to be built in the United States through the use of private funds. It was named to Time Magazine’s “Top 100 Greatest Places” in 2019 and National Geographic’s list of “Twelve Mind-Bending Playgrounds Around the World.”
Startups to Watch
RespondFlow: is a platform that empowers people to be brilliant at building relationships with their customers through text message conversations.
Boddle Learning: is a learning platform on a mission to engage 1–6th-grade students for lifelong learning by gamifying practice & assessments.
Sway Medical: is an innovative software company using mobile technology to improve outcomes. Sway’s core product is a concussion management system that uses objective measures to revolutionize the way athletes and patients are monitored for signs of neurological and vestibular dysfunction.
ZeroCard: provides an entirely new healthcare delivery model that allows self-funded employers to cut episodic healthcare costs by as much as 50% while simultaneously improving the employee benefits plan by offering plan members access to high-quality, cost-effective care for $0
Who should I follow on Twitter?
Lightship Capital
Conclusion
Tulsa has come a long way since it’s early days. In the words of Atento team member and Program Director Aaron Wingham, “the only way to move on from the darkness of the past is to offer a brighter future.”
Tulsa and Atento Capital are continuing to work hard to offer a better more inclusive future to all builders and that is something to truly be excited about.
If you’re interested in learning more about Tulsa or about raising capital in Oklahoma, reach out to me. My email is sean@atentocapital.com or connect with me on Twitter, @_mccroskey. We at Atento are dedicated to being helpful to founders who are ready to help write the story of the future.
We look forward to meeting you!
