Sometimes an innovative idea for a business or life-changing product connects with the resources to make it happen. And sometimes they come together when the idea is pitched to a team of angel investors or venture capitalists. Northwestern Nevada has a number of investor organizations springing up along with a rising spirit of entrepreneurship throughout the region.
The Reno Angels and Summit Venture Mentoring Service (VMS) are joining forces to help entrepreneurs in the Northern Sierra Region. The Reno Angels, at its monthly meetings, will hear pitches from entrepreneurs participating in Summit VMS’ comprehensive mentoring program. The goals are to provide real-world feedback to the entrepreneurs on their business plans and presentations, and to consider investments in selected businesses.
Plans are underway for the 9th NCET Small Business Expo, which returns to the Atlantis’ Grand Ballroom on Friday, Sept 26. This column is a chance to reflect on how Nevada’s small business and entrepreneurial climate has changed since the first Expo. (If you are curious, the NCET Expo features everything you need to start or grow. Ten years ago, Nevada had few entrepreneurial resources and probably wasn’t top-of-the-mind for companies looking to expand or relocate. How the world has changed. NCET’s first Expo featured just 30 exhibitors (versus 100+ this year) and was designed primarily to showcase the “alphabet soup” agencies such as EDAWN, NMI, SBA, SCORE and UNR.
The first place a new startup business looking for capital might approach is their local bank. Although traditional lenders are loosening their grip as the economy improves, they are still not as open to funding startups, especially those that require large amounts of capital. So what is a new business to do? Perhaps an angel investor is right for the job. So what is an angel investor and what do they do? Angel investors are often entrepreneurs themselves or have expertise in an area that might be helpful to a new company. Once an angel or angel group has enough confidence in a company’s business proposal, they might offer funds to finance their business.
Bryan Lang relocated his company, Trans World Health Services, to Reno about 10 years ago for tax reasons. Like many companies in the very early stages, the health care software outfit was self-funded. Steven Kay was brought on as CEO in 2011 to help take Trans World to the next level. That meant transitioning from […]
Sometime during the fourth quarter, Reno-based First Warning Systems Inc. expects to begin European marketing of a sophisticated technology that, its executives say, can detect breast cancers years earlier than traditional screening tools such as mammography. The company’s sensors, which might be placed in a garment that looks like a sports bra, collect temperature data […]