Reno has become an incubator for ambitious entrepreneurs. The City of Reno recognizes the positive impact entrepreneurs and their great ideas have on our economy, culture and community. This is why City Council approved a $200,000 fund that is financed through part of the City’s annual allocation of U.S. Department of Housing and Urban Development community development block grants.
Funded by the City of Reno and managed by Newbean Capital and EDAWN, the Reno Accelerator Fund is a pilot project that makes investments in Reno’s most promising early stage startups. The program will invest $20,000 in each of 8 startups by June 30, 2014, through convertible notes.
Learn more about the Reno Accelerator Fund.
Finalists Announced 5/28/2014
The City of Reno has named the 11 recipients of the first round of its Reno Accelerator Fund (RAF). The $200,000 program is supported by Community Development Block Grant (CDBG) funds from the U.S. Department of Housing and Urban Development and designed to provide early-stage financing to promising startups.
The RAF program was developed in October 2013 to advance one of Reno City Council’s main priorities — to “Promote a Sustainable and Vibrant Economy” — and support Reno’s blossoming entrepreneurial community.
- American Duchess, Inc.
- BHeard, Inc.
- BootRoxx (pictured below)
- EasyKeeper Herd Manager, LLC
- Inqiri (pictured below)
- Sierra Delectables, Inc.
- Under the Rose Brewing Company
“The goal of the program is job creation, and we exceeded the target set forth by Reno City Council,” Kerslake says. “We also raised the profile of the City of Reno within the entrepreneurial community and attracted attention from other cities such as Davis [California] and Las Vegas.”
“The Reno Accelerator Fund is an important tool in our economic development toolkit,” says Doug Erwin, Vice President of Entrepreneurial Development for the Economic Development Authority of Western Nevada. “This fund helps us support our local startups and helps us attract new startups to the community.”