One of the top-15 startup accelerators in the country, gener8tor, launches new programs in Las Vegas and Reno-Tahoe to provide investment, support, mentorship, and access to in-state and out-of-state capital to early-stage small businesses and startups throughout Nevada.
gener8tor Las Vegas and gener8tor Reno-Tahoe will invest in and accelerate at least 10 small businesses and startups per year.
The new program in Las Vegas is created in partnerships with Nevada Governor’s Office of Economic Development (GOED) and the City of Las Vegas. Startups and small businesses in Las Vegas can submit their application online. Each selected team will receive $100,000 cash investment from gener8tor’s venture fund and, subject to federal approval, from Nevada’s federal Small Business Credit Initiative (SSBCI) funds.
Selected teams will also receive 12 weeks of coaching and mentorship from the gener8tor team, introductions to over 100 industry experts and investors, build relationships with other like-minded entrepreneurs and gener8tor alumni, and more.
“We will bring our focus on investing across race, place, and gender along with a national network of companies, investors, and relationships to Nevada to incentivize companies to start here, hire here, and stay here,” said gener8tor Co-Founders Joe Kirgues and Troy Vosseller.
Startup accelerators can help a region to growth its employment, support entrepreneurs and small businesses, and diversify the local economy. gener8tor has a track record of accelerating hundreds of companies that have created approximately 8,000 jobs and gone on to raise $1.2 billion in follow-on financing or through exit events.
“The accelerators we are launching today with gener8tor will diversify Nevada’s economic development system by investing in home-grown innovation and ensuring businesses survive and thrive here in Nevada,” said Nevada Governor Steve Sisolak.
“Las Vegas has more than 1,200 startups and they are critical to the present and future of our city’s economy,” said Las Vegas Mayor Carolyn Goodman. “The city has been a leader in creating a startup ecosystem that is among the best in the nation through our International Innovation Centers @Vegas, and the step we are taking today with gener8tor and our partners will continue what we have started.”