[ad_1]
Nevada is known for its gaming and tourism industries, but there are ongoing efforts to strengthen the state’s startup community, especially in Las Vegas.
Several business incubator and accelerator programs have been launched in Southern Nevada in recent months. Many are focused on supporting and funding early-stage companies in Las Vegas. Most of the programs are funded by the US Relief Plans Act or other federal grants.
Additional support comes from several new companies, including fintech company Pomelo, self-driving rental service Halo.Car, and Esoes Cosmetics, which makes cosmetics with safety features such as hidden drug test strips, launching in 2022. It’s done when you see the service start. for drinks.
Mayor Carolyn Goodman attributes this growth to how people view Las Vegas today and its potential for entrepreneurs.
“It’s really important to spread the word about doing business in Las Vegas,” she said.
In fiscal 2022, the City issued 3,850 new business permits. This is a 10.6% increase from his 3,481 grants in FY2021. Still, many in the business and technology communities believe there is room for growth.
Jeff Saling, executive director and founder of non-profit business incubator StartUpNV, believes the startup community needs to “leverage” these funding opportunities to continue developing the Las Vegas startup ecosystem. I’m here.
“If you’re comparing our startup ecosystem to anything else[with it]our journey through school… I’d say Las Vegas is probably about middle school,” Salling said.
StartUpNV is partnering with government agencies to help manage several new programs for Las Vegas startups.
Jamie Schwartz, Director of Industry and Business Engagement for UNLV’s Department of Economic Development, grew up in Las Vegas. She said the region is still in the early stages of becoming a dynamic community for startups, but has become more serious in recent years.
“We’ve been talking about the need to diversify the economy here for a long time, really since I was a kid,” she said. “But maybe five years ago she didn’t hear as much about using strategies to attract startup activity as a method of diversification.”
“I feel like I’m at summer camp”
One company that recently moved to Las Vegas in search of a better business environment is SafeArbor. It sells lockers for the cannabis industry, making it easy for customers to pick up their pharmacy orders.
SafeArbor co-founders Marta Spegman and Lindsay Ballengee said moving the company from Northern California to Las Vegas in 2020 would be ideal. Because we can operate in a small start-up environment and raise funds while working with regulators.
“It was refreshing to step into a place that was taken more seriously from an investment perspective. I wasn’t overwhelmed by all the extraordinary talent in Silicon Valley,” said Spegman. “We feel like we are at his summer camp for tech entrepreneurs downtown. I think it’s getting bigger.”
SafeArbor started with $100,000 raised from family and friends and raised $270,000 during a stay in Las Vegas. This includes $220,000 from StartUpNV’s AngelNV investment program.
“We were really able to move this at the speed of light,” Barenzi said.
Other support services for startups include the non-profit Tech Alley, which launched last year and hosts monthly gatherings for the tech community, and UNLV’s 122-acre Harry Reid Research and Development Park, which hosts students and small businesses. And so on.
“We have a strong competitive advantage here in that every major CEO and organization comes to the city at least every other year,” Schwartz said. “Harry Reed International Airport, all these major conventions.
place, place, place
Michael Luciani, managing partner of investment group Climate Capital, said the company invested in Las Vegas-based Halo.Car not only because of its mission, but also because of its headquarters location.
“I think Las Vegas is the perfect place for (Halo.Car). People coming to Las Vegas looking to rent a car come from all over the country and can basically drive around the city as temporary visitors.” said Luciani.
Logistics tracking company SeeID moved operations from Idaho to Las Vegas in 2020 after considering several other markets, said SeeID co-founder and chief revenue officer William Reny. I’m here.
He said the fundraising was easier than expected, with SeeID raising $2.1 million last year when it was aiming to raise $1 million.
“Corporate tax here is much more favorable for businesses and having a hub airport is a huge selling point,” Renee said. I have to pass this to Las Vegas. It’s the easiest thing in the world to convince a customer to come see us because they’re not just here to see us. ”
However, according to Saling, continuing to build the Las Vegas startup community requires overcoming challenges that cannot be solved “overnight.”
He said challenges include bringing in a stronger system of higher education and more Las Vegas-based funding groups like venture capital firms.
He said such companies often develop when local founders “quit” the startup or go public or sell the company. Salling says that having successfully exited founders reinvest in his startup community creates a “virtuous circle” of investment.
“We need more founders for successful exits to get the rest of the virtuous circle on track,” he said. “It will still take him 15 to 25 years to get to this virtuous cycle and apply that effort consistently. It will take time to grow these companies and exit. .”
Please contact Sean Hemmersmeier at Shemmersmeier@reviewjournal.com.follow @seanhemmers34 on Twitter.
[ad_2]
Source link
