Nearly $1.5 million invested in local startups for Reno Venture Conference |

Nearly $1.5 million invested in local startups for Reno Venture Conference

Special to the NNBV
The inaugural Reno Venture Conference took place May 14-15 at the Nevada Museum of Art.
Courtesy EDAWN

RENO, NEv. — The Economic Development Authority of Western Nevada (EDAWN) hosted the inaugural Reno Venture Conference May 14-15, bringing entrepreneurs, investors and community members together to highlight the success of local startups.

The two-day conference’s mission was to increase early-stage investment in the local economy while celebrating the successes seen in the region over the past few years.

Active angel investors evaluated pre-seed and seed stage startups for investment opportunities during the two-day conference.

In total, 10 companies competed for a share of nearly $1.5 million in funding, provided by several funding groups in the area. The four companies awarded are:

Reno-based startup Fox Optimization earned $500,000 at the conference; the company uses “cutting-edge prescriptive analytics to make better decisions…” according to its website.

Courtesy EDAWN

“The Reno Venture Conference is a significant milestone in the development of our entrepreneurial ecosystem,” said EDAWN President and CEO, Mike Kazmierski. “It demonstrates our communities’ commitment to investing in emerging technology sectors and growing the jobs of the future.”

Funding awarded will help select local businesses to grow and create high-wage jobs in the community.

The Reno Venture Conference — which was partially funded by a grant given by the Office of Innovation and Entrepreneurship, within the U.S. Economic Development Administration — will help several investments into local startups within the area through the Reno Seed Fund.

This article was provided to the NNBV on behalf of EDAWN.