Governor Steve Sisolak joined Reno Mayor Hillary Schieve virtually today, to announce the launch of a nationally ranked small business startup accelerator called Gener8tor. They say this start up will accelerate at least 10 small businesses and startups a year.
The program is originally from Wisconsin and is now helping our own local small businesses. They told us the Economic Development Authority, or EDAWN, has really been a catalyst to bringing them into Reno.
The Gener8tor Co-Founder tells us, historically small businesses account for almost all new net job growth in the United States. The Gener8tor program is a way for them to bring the best jobs, technology and skills to the local workforce.
Joe Kirgues, the Co-Founder of Gener8tor explains "Our job is to help them get their first customers, to help them build their business plan, to get investors and key hires and along the way we're able to help companies succeed."
They say the small businesses that successfully compete for space in the accelerator will receive a start up investment of $100,000, which will mostly be used for paying new employees. They also said Gener8tor will help our economy with small business growth.
Kirgues adds "If they need to buy new computers or new technology they'll use that to get going, then they'll plan out the next 2 to 3 years of their start up growth."
He also says they've seen venture capital having big disparities when it comes to race, place and gender.
Kirgues mentions "The Gener8tor accelerator is committed to making sure that the graduates from our program reflect the gender, race and place of Nevada."
They say the program also reduces the business failure rate by 85%. They told us the program has created approximately 8,000 jobs so far. They even have something called "trash can dreams" where you can submit your ideas to them. Which is also how they can see if your idea is fit for their program.
Kirgues says "Our most successful companies... I wasn't sure I would ever buy but it turns out people like buying things that I didn't know, and our job is to facilitate those entrepreneurs thriving."
