One thing that makes Memphis great is the great startup community here. Many cities are lacking helpful resources for small business launches. Memphis has many! Here are some organizations and links to their website.
LaunchMemphis: LaunchMemphis is a fantastic company, an extension of LaunchYourCity, which helps entrepreneurs with promising startups get their company ready to pitch to investors and to hone their competitive edge.
One of Launch Memphis's strategic partners is "Seed Hatchery." These people are great, as are all of the Launch Memphis partners. Anyone who has a cutting-edge company idea fleshed out should go see these people.
Another of Launch Memphis's strategic partners is the "Wolf River Angels," a community of successful investors who are interested in helping the city grow, in part by helping the best and the brightest to succeed in their ventures.
Located on the campus of Memphis's largest research university, The University of Memphis, the Center for Entrepreneurship and Innovation helps the university's students start companies, with many services directly available, without the students having to leave the main campus.
Also well-known in the local startup 'scene' is Emerge Memphis, located in South Downtown, an area that exemplifies innovation and renewal.