Las Vegas sets the stage for thriving entrepreneurship

Three years ago, I co-founded StartUp Vegas to strengthen our region’s culture of entrepreneurship. Today, some of Las Vegas’ former weaknesses from an entrepreneurial perspective have already evolved into assets that now boost economic development broadly.

Historically, Las Vegas’ proximity to California wasn’t seen as an asset for entrepreneurship. There was such a vibrant entrepreneurial culture in Silicon Valley that we were overlooked and not part of the startup culture conversation. COVID-19 changed that: It accelerated remote working, enabling Silicon Valley employees to look for better quality of life, including more affordable housing and lower taxes. That in turn allowed Silicon Valley founders, who were considering starting other companies, to look at cities to which that talent had moved, including Las Vegas.

Today, our proximity to California is a strength. Las Vegas’ geographical advantage is a benefit for startup founders who crave a high quality of life while still having easy access to the Silicon Valley ecosystem. Founders can fly from Las Vegas to San Francisco in less time than some spend driving to work in Silicon Valley. This logistical convenience allows entrepreneurs to maintain a base in a more relaxed, cost-effective environment here while easily tapping into the wealth of resources, networking opportunities and venture capital that Silicon Valley offers. Some startup founders in Las Vegas tell me they make the trip to the Bay Area twice a week, seamlessly blending the best of both worlds.

Founders and CEOs increasingly recognize Las Vegas not only as a premier convention and entertainment hub — a place to unwind or attend pivotal trade shows — but also as a vital center of business opportunity. This unique combination of lifestyle and professional advantages makes Las Vegas an integral part of their success strategy, as they leverage the additional offerings we provide, which no other city delivers on such a scale.

Moreover, the influx of California transplants has helped our ecosystem accelerate its growth. On top of organic programming and organizing, the addition of seasoned entrepreneurs choosing Las Vegas to build and scale their companies has led to an increase in mentorship and knowledge sharing; local programs also have improved impact, and with such clientele, there are added business opportunities for local entrepreneurs.

As an example, during CES, I met two founders at a “Shark Tank”-style event hosted by StartUp Vegas. Both had exited companies based elsewhere and were exploring new business and geographic opportunities. As a result of that meeting, they are now building a company based here.

In the past three years, the entrepreneurial environment in Las Vegas has undergone a remarkable transformation. Gaps in training, mentorship and support have been effectively addressed by local nonprofits. There’s a deep commitment to foster a supportive atmosphere for founders and continue to revitalize an ecosystem rich with opportunities for learning, development and growing numerous companies. As a result, I am currently aiding several startups in their move to Southern Nevada, which promises to bring high-paying, sustainable careers to our region.

Additionally, statewide support for entrepreneurs is significantly reinforced by the creation of the Office of Entrepreneurship within the Governor’s Office of Economic Development (GOED). It’s the first such office to be created in the nation in response to the policy recommendations of the national nonprofit Right to Start, which champions entrepreneurship as a civic priority.

Establishing a statewide resource significantly enhances overall economic development. CEOs considering relocation to Nevada often seek confirmation that essential components of a thriving ecosystem are in place. They expect to pursue innovative projects and require immediate access to local expertise that can support these new ventures. This assurance is crucial.

However, in Las Vegas and statewide, we still have much more to do. A sustainable entrepreneurial ecosystem is emerging, but there are shortcomings. We don’t yet have the workforce needed for large tech startups to thrive at scale. That challenge must be addressed in high schools, community colleges and universities. The ecosystem also needs to reach every part of the state, and it needs to become much more robust everywhere.

If we look at the extraordinary progress made over the past three years, however, it is clear we are capable, and the future is bright. The expansion of resources, enhanced access to training and mentorship, and robust support from the statewide Office of Entrepreneurship reinforce our efforts to drive local entrepreneurship forward. Together, across the state we are setting the stage for a thriving innovative future, and I am convinced that the coming years will usher in an era of unprecedented drive and opportunity for Southern Nevada entrepreneurs.

Heather Brown is senior vice president of entrepreneurial development at Las Vegas Global Economic Alliance, president and co-founder of StartUp Vegas, and an ambassador for Right to Start.